Hudbay Q4 Profit Drop, Misses Estimates; Provides 2025 Production Guidance; Stock Drop In Pre-market

(RTTNews) - Hudbay Minerals Inc. (HBM), a diversified Canadian mining company, Wednesday announced that its net income decreased in the fourth quarter.

Shares of Hudbay Minerals are dropping by 6% in the pre-market trading.

For the fourth quarter, net income attributable to owners decreased to $21.2 million from $30.7 million last year.

Earnings per share were $0.05 versus $0.10 last year.

On an adjusted basis, earnings attributable to owners were $70.3 million, while it was at $68.9 million in the previous year.

Adjusted earnings per share were $0.18 versus $0.20 the previous year.

Analysts, on average, had expected the company to earn $0.23 per share. Analysts' estimates typically exclude special items.

Revenues declined by 2.9 percent to $584.9 million from $602.2 million, in the prior quarter.

For 2025, consolidated copper production is forecasted to remain stable with 2024 levels at 133,000 tonnes. Meanwhile, consolidated gold production of 277,750 ounces is expected to be lower than the production of 2024.

President and CEO Peter Kukielski said, "... gold production significantly exceeding the top end of the guidance range and the outperformance of our twice-improved consolidated cash cost guidance."

The company said its Copper World project in Arizona is now fully permitted and once in production, it is expected to increase consolidated copper production by more than 50 percent from current levels.

In the pre-market trading, Hudbay is 5.13% lesser at $8.50 on the New York Stock Exchange.