Hudbay Minerals (HBM) is trading higher on May 1, 2026 after releasing first-quarter 2026 results that highlighted record quarterly revenue and profitability metrics. The quarter featured record revenue of $757.3 million and record adjusted EBITDA of $421.9 million, alongside record adjusted earnings, as investors focused on the company’s operating momentum and margin expansion.

Hudbay reported consolidated production of 27,929 tonnes of copper and 61,700 ounces of gold in Q1, and said operations are on track to achieve 2026 production and cost guidance. The company also pointed to industry-leading cost performance, including record low consolidated cash cost, net of by-product credits, of $(1.80) per pound of copper in the quarter, supporting free-cash-flow generation. Liquidity was a key highlight as well, with cash and cash equivalents at about $1,003.8 million at quarter-end.

Hudbay reaffirmed its full-year 2026 consolidated guidance ranges of 110,000 to 138,000 tonnes of copper and 217,000 to 272,000 ounces of gold, and reiterated 2026 cost guidance. On growth projects, the company reiterated that its Copper World definitive feasibility study remains on track for completion in mid-2026 and framed its strengthened balance sheet as improving flexibility to advance Copper World and support the planned acquisition-related de-risking of the Cactus project.