Hudbay Minerals Inc. Receives Approval for Normal Course Issuer Bid
Hudbay Minerals (TSX, NYSE: HBM) received TSX approval to commence a new normal course issuer bid for its common shares.
Rhea-AI Summary
Hudbay Minerals (TSX, NYSE: HBM) received TSX approval to commence a new normal course issuer bid for its common shares. The program allows repurchases of up to 19,863,997 shares, or 5% of shares outstanding as of May 21, 2026, for cancellation over 12 months.
The NCIB runs from June 1, 2026 to May 31, 2027, with a daily limit of 469,604 shares on the TSX, subject to block purchase exceptions. Purchases, if made, will be funded from cash flow from operations. Hudbay’s 2025 NCIB expires May 29, 2026 with no shares repurchased.
Positive
- Authorization to repurchase up to 19,863,997 shares (5% of outstanding)
- Shares bought under the NCIB will be cancelled, reducing share count
- Program effective for 12 months, providing capital allocation flexibility
- Buybacks intended to be funded from cash flow from operations
- Renewal signals management views shares may trade below underlying value
Negative
- No assurance any shares will be repurchased under the NCIB
- Prior 2025 NCIB for 19,751,983 shares expired with no purchases
- Daily TSX limit of 469,604 shares may constrain repurchase pace
Details
News Market Reaction – HBM
On May 28, the day this news came out, HBM closed 6.17% above the previous close.
Data tracked by StockTitan Argus for the May 28 session.
Key Figures
- NCIB maximum shares
- 19,863,997 Shares
- Authorized repurchases over 12-month NCIB period
- NCIB size as float %
- 5% of issued and outstanding Shares
- Based on share count as of May 21, 2026
- Daily purchase limit
- 469,604 Shares
- 25% of average daily TSX volume under NCIB rules
- Average daily volume
- 1,878,417 Shares
- TSX average daily volume over six months to April 30, 2026
- NCIB term start
- June 1, 2026
- Earliest date Hudbay may begin share repurchases
- NCIB term end
- May 31, 2027
- Scheduled expiry of current NCIB, subject to earlier completion/termination
- Prior NCIB maximum
- 19,751,983 Shares
- Capacity under 2025 NCIB expiring May 29, 2026
- Shares bought under 2025 NCIB
- 0 Shares
- No repurchases executed under prior NCIB
Key Terms
normal course issuer bid financial
toronto stock exchange financial
nyse financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
TORONTO, May 28, 2026 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. (“Hudbay” or the “Company”) (TSX, NYSE: HBM) announced today that the Toronto Stock Exchange (the “TSX”) has approved its notice of intention to commence a normal course issuer bid (“NCIB”) for its common shares (“Shares”). The NCIB will be made in accordance with the requirements of the Toronto Stock Exchange and applicable securities laws.
Pursuant to the NCIB, Hudbay is authorized to acquire up to a maximum of 19,863,997 Shares, representing
Purchases will be made on the open market through the facilities of the TSX, NYSE, and/or other alternative Canadian trading systems and in accordance with applicable regulatory requirements at a price per Share equal to the market at the time of acquisition.
The number of Shares that can be purchased pursuant to the NCIB is subject to a daily maximum of 469,604 Shares (which is equal to
Hudbay may begin to purchase Shares on June 1, 2026 and the NCIB will terminate on May 31, 2027 or at such earlier time as Hudbay completes its purchases pursuant to the NCIB or provides notice of termination. Any Shares purchased under the NCIB will be cancelled upon their purchase. Hudbay intends to fund such purchases from its cash flow from operations.
Hudbay most recently commenced a normal course issuer bid on May 30, 2025 (the “2025 NCIB”). The 2025 NCIB, which permitted the purchase of up to 19,751,983 Shares, expires on May 29, 2026. No Shares have been purchased under the 2025 NCIB.
Hudbay has elected to renew its NCIB because it believes that, from time to time, the market price of the Shares may not fully reflect the underlying value of Hudbay’s business and future prospects. Hudbay believes that, at such times, the repurchase of the Shares for cancellation may constitute a desirable use of capital and would be in the best interests of shareholders. Any subsequent renewals of the NCIB will be in Hudbay's discretion and subject to further TSX approval.
About Hudbay
Hudbay (TSX, NYSE: HBM) is a copper-focused critical minerals mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States.
Hudbay’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the Company, which is complemented by meaningful gold production and by-product zinc, silver and molybdenum. Hudbay’s growth pipeline includes the Copper World project in Arizona (United States), the Cactus project in Arizona (United States), the Mason project in Nevada (United States), the Llaguen project in La Libertad (Peru) and several expansion and exploration opportunities near its existing operations.
The value Hudbay creates and the impact it has is embodied in its purpose statement: “We care about our people, our communities and our planet. Hudbay provides the metals the world needs. We work sustainably, transform lives and create better futures for communities.” Hudbay’s mission is to create sustainable value and strong returns by leveraging its core strengths in community relations, focused exploration, mine development and efficient operations.
For further information, please contact:
Candace Brûlé
Senior Vice President, Capital Markets & Corporate Affairs
(416) 362-8181
investor.relations@hudbay.com
FAQ
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