Hudbay Receives TSX Approval for Normal Course Issuer Bid
Hudbay Minerals (TSX, NYSE: HBM) has received approval from the Toronto Stock Exchange to initiate a Normal Course Issuer Bid (NCIB) for its common shares. The company is authorized to purchase up to 19,751,983 shares, representing 5% of its outstanding shares, for cancellation over a 12-month period from May 30, 2025 to May 29, 2026.
Daily purchases will be limited to 425,832 shares, with the possibility of one block purchase per week exceeding this limit. The share repurchases will be made through the TSX, NYSE, and other Canadian trading systems at market prices. Hudbay will fund the purchases using cash, cash equivalents, and operational cash flow. The company believes the market price may not fully reflect its underlying value and future prospects.
Hudbay Minerals (TSX, NYSE: HBM) ha ottenuto l'approvazione dalla Borsa di Toronto per avviare un Programma di Riacquisto di Azioni Ordinarie (NCIB). La società è autorizzata ad acquistare fino a 19.751.983 azioni, pari al 5% delle azioni in circolazione, da annullare entro un periodo di 12 mesi dal 30 maggio 2025 al 29 maggio 2026.
Gli acquisti giornalieri saranno limitati a 425.832 azioni, con la possibilità di un acquisto a blocco settimanale che superi tale limite. I riacquisti saranno effettuati tramite TSX, NYSE e altri sistemi di negoziazione canadesi a prezzi di mercato. Hudbay finanzierà gli acquisti con liquidità, equivalenti di cassa e flussi di cassa operativi. La società ritiene che il prezzo di mercato potrebbe non riflettere appieno il valore intrinseco e le prospettive future.
Hudbay Minerals (TSX, NYSE: HBM) ha recibido la aprobación de la Bolsa de Toronto para iniciar un Programa Normal de Recompra de Acciones (NCIB) para sus acciones ordinarias. La compañía está autorizada a comprar hasta 19,751,983 acciones, que representan el 5% de las acciones en circulación, para su cancelación durante un período de 12 meses desde el 30 de mayo de 2025 hasta el 29 de mayo de 2026.
Las compras diarias estarán limitadas a 425,832 acciones, con la posibilidad de una compra en bloque semanal que supere este límite. Las recompras se realizarán a través de TSX, NYSE y otros sistemas de negociación canadienses a precios de mercado. Hudbay financiará las compras con efectivo, equivalentes de efectivo y flujo de caja operativo. La empresa considera que el precio de mercado puede no reflejar completamente su valor subyacente y sus perspectivas futuras.
Hudbay Minerals (TSX, NYSE: HBM)는 토론토 증권거래소로부터 자사 보통주에 대한 정상 과정 발행자 매입 계획(NCIB)을 시작할 승인을 받았습니다. 회사는 2025년 5월 30일부터 2026년 5월 29일까지 12개월 동안 발행 주식의 5%에 해당하는 19,751,983주를 취득하여 소각할 권한을 부여받았습니다.
일일 매입 한도는 425,832주로 제한되며, 이 한도를 초과하는 주간 단위 블록 매입이 한 차례 허용됩니다. 주식 매입은 TSX, NYSE 및 기타 캐나다 거래 시스템을 통해 시장 가격으로 이루어집니다. Hudbay는 현금, 현금성 자산 및 운영 현금 흐름을 통해 매입 자금을 조달할 예정입니다. 회사는 시장 가격이 내재 가치와 미래 전망을 완전히 반영하지 못할 수 있다고 보고 있습니다.
Hudbay Minerals (TSX, NYSE : HBM) a obtenu l'approbation de la Bourse de Toronto pour lancer un Programme Normal de Rachat d'Actions (NCIB) pour ses actions ordinaires. La société est autorisée à racheter jusqu'à 19 751 983 actions, représentant 5 % de ses actions en circulation, en vue de leur annulation sur une période de 12 mois, du 30 mai 2025 au 29 mai 2026.
Les achats quotidiens seront limités à 425 832 actions, avec la possibilité d'un achat en bloc hebdomadaire dépassant cette limite. Les rachats seront effectués via la TSX, la NYSE et d'autres systèmes de négociation canadiens à des prix de marché. Hudbay financera ces achats avec des liquidités, des équivalents de trésorerie et des flux de trésorerie opérationnels. La société estime que le prix du marché ne reflète pas pleinement sa valeur intrinsèque ni ses perspectives futures.
Hudbay Minerals (TSX, NYSE: HBM) hat die Genehmigung der Toronto Stock Exchange erhalten, ein reguläres Aktienrückkaufprogramm (NCIB) für seine Stammaktien zu starten. Das Unternehmen ist berechtigt, bis zu 19.751.983 Aktien zu erwerben, was 5 % der ausstehenden Aktien entspricht, und diese innerhalb eines Zeitraums von 12 Monaten vom 30. Mai 2025 bis zum 29. Mai 2026 zu annullieren.
Tägliche Käufe sind auf 425.832 Aktien begrenzt, wobei wöchentlich ein Blockkauf über dieses Limit hinaus möglich ist. Die Rückkäufe erfolgen über die TSX, NYSE und andere kanadische Handelssysteme zum Marktpreis. Hudbay wird die Käufe mit Bargeld, Zahlungsmitteln und operativem Cashflow finanzieren. Das Unternehmen ist der Ansicht, dass der Marktpreis den inneren Wert und die zukünftigen Aussichten nicht vollständig widerspiegelt.
- Authorization to repurchase up to 19.7 million shares (5% of outstanding shares) demonstrates confidence in company's value
- Strong financial position with ability to fund buyback through cash, cash equivalents and operational cash flow
- Flexible purchase program allowing for strategic timing of share repurchases based on market conditions
- Share repurchases reduce cash available for other growth opportunities or operations
- No guarantee that all authorized shares will be repurchased
Insights
Hudbay's new 5% share buyback program signals management's confidence in undervalued shares and strengthens shareholder returns.
Hudbay Minerals has received TSX approval to repurchase up to 19,751,983 shares (representing
The mechanics of the program include a daily purchase limit of 425,832 shares (equal to
This capital allocation decision reflects a strategic choice by Hudbay's management team. Rather than deploying all available capital toward mining operations expansion or debt reduction, they're choosing to return value to shareholders through buybacks. This suggests management views their shares as undervalued at current market prices - essentially investing in themselves.
The funding mechanism - using cash, cash equivalents, and operational cash flow - indicates healthy liquidity. This approach balances shareholder returns with maintaining financial flexibility for potential growth investments. The discretionary nature of the program (noted by the "number of shares which may be purchased... remains subject to a number of factors") gives management flexibility to adjust based on market conditions and alternative capital deployment opportunities.
TORONTO, May 28, 2025 (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 19,751,983 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 425,832 Shares (which is equal to
Hudbay may begin to purchase Shares on or about May 30, 2025 and the NCIB will terminate on May 29, 2026 or 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 using its cash and cash equivalents together with cash flow from operations.
Hudbay did not have a NCIB in place during the 12-month period preceding the date hereof, and accordingly, no Shares were repurchased or cancelled during that period.
Hudbay has elected to implement the 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.
Forward-Looking Information
This news release contains “forward-looking statements” and “forward-looking information” (collectively, “forward- looking information”) within the meaning of applicable Canadian and United States securities legislation. Forward- looking information includes information that relates to, among other things, statements with respect to any potential Share purchases under the NCIB, including the number of Shares to be repurchased and the timing thereof. Forward-looking information is not, and cannot be, a guarantee of future results or events.
Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Hudbay at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Hudbay does not assume any obligation to update or revise any forward-looking information after the date of this news release or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law.
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-friendly 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 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
Vice President, Investor Relations, Financial Analysis and External Communications
(416) 814-4387
investor.relations@hudbay.com
FAQ
What is the maximum number of shares HBM can repurchase under its 2025 NCIB program?
What is the daily purchase limit for HBM's 2025 share buyback program?
When does Hudbay's 2025 NCIB program begin and end?
How will Hudbay Minerals fund its 2025 share buyback program?
Why is HBM implementing a share buyback program in 2025?
