HudBay Minerals Earnings Set to Reveal Impact of Slumping Volume on Copper Prices

HudBay Minerals is set to report its second-quarter earnings on July 29, with analysts expecting a significant decline from the previous quarter. Despite the expected slump, copper prices have surged 11.8% year-over-year, which could help offset volume headwinds.

The company's net income is forecasted to be $0.27 per share on revenue of $652 million for the quarter ended June 2026, down from $0.40 per share and $757.3 million in the previous quarter. However, on a year-over-year basis, earnings are still expected to rise by 43.2%, while revenue is forecasted to increase by 21.5%.

HudBay's stock has traded in a wide range over the past year, from $8.93 to $32.15. Analysts have mixed sentiment on the company, with Barclays maintaining its Buy rating and raising its price target to $32, while BofA Securities kept its Buy rating but lowered its target to $29.50.