Hudbay Minerals Stock Price, News & Analysis

Hudbay Minerals has announced an initial mineral resource estimate for its Copper World project, located near the Rosemont copper project in Arizona. The estimate includes 272 million tonnes of indicated resources at 0.36% copper and 142 million tonnes of inferred resources. Notably, there are high-grade deposits near the surface, including 96 million tonnes at 0.57% copper. The company is advancing a preliminary economic assessment expected in the first half of 2022. The project aims to support U.S. efforts in reducing greenhouse gas emissions while creating local jobs.

Hudbay Minerals has appointed Andre Lauzon as the new Senior Vice President and Chief Operating Officer, effective January 4, 2022. Lauzon will replace Cashel Meagher, who is departing the company. With over 25 years of mining experience, Lauzon has been instrumental in key projects in Manitoba and Arizona. The company also promoted Candace Brûlé to Vice President of Investor Relations, continuing her leadership in investor and media communications. Hudbay focuses on copper, zinc, and silver production while pursuing growth through existing properties and potential acquisitions.

Hudbay Minerals reported Q3 2021 financial results, generating $359.0 million in revenue and $119.3 million in adjusted EBITDA. Copper production reached 23,245 tonnes, while gold production surged 35% to a record 53,872 ounces. Cash costs per pound of copper improved by 26% to $0.62. Despite an overall net loss of $170.4 million, adjusted net earnings per share were $0.15. The company remains on track with its production guidance and has increased liquidity to $450 million following credit facility amendments.

Hudbay Minerals (HBM) will host a conference call on November 4, 2021, at 8:30 a.m. ET to discuss its third quarter 2021 results. The company plans to release these results on November 3, 2021, accessible via its website. Interested parties can join the call by dialing 1-416-915-3239 or 1-800-319-4610. A webcast of the call will also be available online. Hudbay is a diversified mining company engaged in the production of copper concentrate, zinc metal, and operates several mines in Canada and Peru.

Hudbay Minerals Inc. (TSX, NYSE: HBM) has announced the ratification of new three-and-a-half year collective agreements by the United Steelworkers (USW) Local 7106 and Local 9338. This follows the approval of similar agreements by other unions at Hudbay's Manitoba operations in July 2021, completing the collective bargaining process for all six unions. Hudbay operates multiple mines and is focused on developing long-life, low-cost mining projects across the Americas.

Hudbay Minerals has announced promising exploration results from its Copper World project in Arizona, identifying three new deposits, bringing the total to seven. Significant copper mineralization was discovered, with drill hole #191 intersecting 404 feet of 1.50% copper from surface. The drill program, conducted between January and June 2021, is expected to increase the inferred resource estimate, with a preliminary economic assessment planned for 2022. The total drilling has expanded to over 200,000 feet, bolstered by an increased budget of $34 million.

Hudbay Minerals (HBM) has commenced gold production at the New Britannia mill in Snow Lake, Manitoba, achieving first gold on August 11, 2021. This milestone follows the completion of refurbishment activities in June and successful commissioning in July, ahead of the original timeline. The company anticipates annual gold production will exceed 180,000 ounces during the first six years of operation at a cash cost of $412 per ounce. Additionally, construction of a new copper flotation facility is on track for completion in Q4 2021.

Hudbay Minerals reported a Q2 2021 revenue of $404.2 million, a significant increase due to higher metal prices and sales volumes. Adjusted EBITDA stood at $143.2 million, reflecting strong production gains, particularly in gold with a record of 39,848 ounces. Copper production totaled 23,474 tonnes, though down 4% from Q1. A net loss of $3.4 million was recorded, a major improvement from a $60.1 million loss in Q1. The New Britannia project is on schedule for its first gold pour in August 2021, while the company faces COVID-related costs impacting financials. Cash reserves were $294.3 million.

Hudbay Minerals Inc. (TSX, NYSE: HBM) will host a conference call on August 10, 2021, at 8:30 a.m. ET to discuss its second quarter 2021 results. A news release with the results will be issued on August 9, 2021, and will be available on the company’s website. Investors can participate via webcast or by dialing in at 1-416-915-3239 or 1-800-319-4610. Hudbay is a diversified mining company focused on producing copper, gold, silver, and zinc across various operating mines primarily located in Canada and Peru.