Hudbay Minerals mines copper, zinc and gold from its Constancia, Copper World and Snow Lake operations in Peru, Arizona and Manitoba, and sells concentrates to smelters. Its edge is a copper-weighted portfolio sitting in stable mining jurisdictions, with Copper World in Arizona, which has a permitted path to production, the most visible piece of that story. The near-term catalyst is ramp-up and cost execution at Copper World and Constancia, which will determine how fast volume growth converts into free cash flow. At a 17.7% revenue growth rate, a 32.6% operating margin and a 14.2 trailing P/E against a 15.3 forward P/E, the market is pricing in roughly flat earnings despite the top-line expansion, which is the gap a deeper look should test. The 56.6% gross margin and 16.7% ROE are strong for a $10.8B miner, so the question is whether that profitability holds through the capex cycle.
Plain-English pros, cons, and what to watch. Pro feature.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 19 Oct 2026, 18:04 CEST | Rating | Overvalued | first publication | $23.62 |
| 19 Oct 2026, 18:04 CEST | Fair value | $19.14 | $20.07 | $23.62 |
| 10 Oct 2026, 00:00 CEST | ACCE price target | $23.50 | first publication | $25.39 |
| 10 Oct 2026, 00:00 CEST | Fair value | $20.07 | $20.61 | $25.39 |
| 2 Oct 2026, 00:00 CEST | Fair value | $20.61 | $20.85 | $26.68 |
| 29 Sept 2026, 00:00 CEST | Fair value | $20.85 | $21.11 | $26.63 |
| 26 Sept 2026, 00:00 CEST | Fair value | $21.11 | $20.64 | $26.48 |
| 24 Sept 2026, 00:00 CEST | Fair value | $20.64 | $21.22 | $27.74 |
| 21 Sept 2026, 00:00 CEST | Fair value | $21.22 | $20.31 | $26.90 |
| 18 Sept 2026, 00:00 CEST | Fair value | $20.31 | $20.66 | $25.26 |
Answered from Hudbay Minerals Inc. Ordinary Shares (Canada) fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| HBM Hudbay Minerals Inc. Ordinary Shares (Canada) | $21.98 | $19 | 15% above | 12.8x | 16.7% | 82 | 71 |
| HBM.TO Hudbay Minerals Inc. | C$30.67 | C$24 | 29% above | 11.8x | 16.7% | 82 | 70 |
| CS.TO Capstone Copper Corp. | C$11.17 | C$14 | 19% below | 13.3x | 14.2% | 79 | 71 |
| SFR.AX Sandfire Resources Limited | A$19.82 | A$18 | 8% above | 17.6x | 17.7% | 90 | 86 |
| CSC.AX CAPSTONE CDI 1:1 [CSC] | A$11.66 | A$14 | 14% below | 12.9x | 14.2% | 79 | 71 |
| LUN.TO Lundin Mining Corporation | C$29.51 | C$36 | 18% below | 13.7x | 24.3% | 91 | 76 |
| FM.TO First Quantum Minerals | C$34.09 | C$17 | 101% above | - | -1.2% | 40 | 53 |
Where HBM ranks against its sector peers on each metric.