Overview

* Hudbay Q3 revenue missed analyst expectations due to operational interruptions

* Adjusted EPS for Q3 missed analyst expectations

* Company secured $600 mln partnership with Mitsubishi for Copper World project

Outlook

* Hudbay expects full-year copper and gold production near low end of guidance ranges

* Company improves full-year 2025 cash cost guidance to $0.15-$0.35 per pound

* Hudbay expects Peru gold production to exceed top end of 2025 guidance range

Result Drivers

* OPERATIONAL RESILIENCE - Despite wildfire evacuations in Manitoba and interruptions in Peru, Hudbay maintained strong copper and gold production

* COST CONTROL - Improved full year 2025 cash cost guidance due to strong cost control and increased gold by-product credits

* STRATEGIC PARTNERSHIP - Secured $600 mln partnership with Mitsubishi, reducing capital contributions for Copper World

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $346.80 $561.80

Revenue mln mln (5

Analysts

)

Q3 Miss $0.03 $0.20

Adjusted (11

EPS Analysts

)

Q3 EPS $0.56

Q3 $142.60

Adjusted mln

EBITDA

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the specialty mining & metals peer group is "buy"

* Wall Street's median 12-month price target for Hudbay Minerals Inc ( HBM ) is C$24.50, about 5% above its November 11 closing price of C$23.28

* The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)