TORONTO, May 25, 2026, 16:03 EDT
- Hudbay shares in Toronto ended Monday at C$36.69, above their last close at C$33.68. The stock moved in a range between C$34.64 and C$36.73 during the session.
- Canada’s main stock index set a new record, paced by strength in mining shares. Hudbay was a top name on the benchmark.
- Hudbay shares in the U.S. were not trading with the NYSE shut for Memorial Day.
Hudbay Minerals Inc. shares climbed in Toronto Monday, part of a mining stock rally as copper prices moved higher and Canada’s main index set a new record.
Hudbay was last seen at C$36.69, up nearly 9% from C$33.68 at the previous close, Investing.com data showed. That gain put the stock among the S&P/TSX Composite’s leaders. Reuters earlier said miners were lifting the index.
Timing is in focus. Hudbay leans on copper, and the metal often tracks industrial demand since it goes into power, construction, electronics, and clean-energy setups. Three-month copper on the London Metal Exchange added 0.9% to $13,624.32 a ton Monday, as oil and the dollar slipped on U.S.-Iran peace hopes.
TSX climbed 0.7% to 34,778.98 points at 10:21 a.m. ET, Reuters said, as investors reacted to news that Washington and Tehran were talking about ending their conflict. The miners sub-index jumped 3.1%. Aya Gold & Silver, Hudbay, and Americas Gold & Silver all traded up over 5%.
Stocks moved up and oil fell as markets latched on to any hope for an end to the conflict, even if chances are slim, Brian Madden, chief investment officer at First Avenue Investment Counsel, said to Reuters. “Even a non-zero chance the conflict ends is enough to push stocks higher and oil lower, though we’re not 100% convinced this is the real deal,” Madden said. Reuters
Hudbay rallied after it posted a strong quarterly update earlier this month. For the first quarter, the company posted revenue of $757.3 million. Adjusted EBITDA came in at $421.9 million, and adjusted net earnings attributable to owners were $159.1 million.
Hudbay CEO Peter Kukielski said the latest quarter showed “steady operating performance, expanded margins from strong copper and gold exposure and a focus on cost control across the business.” The miner held its 2026 production outlook at 110,000 to 138,000 tonnes of copper and 217,000 to 272,000 ounces of gold. GlobeNewswire
Peers mostly tracked the market. Lundin Mining gained 5.13% on Google Finance. Ero Copper was last at C$38.81, above its C$37.30 close, Investing.com data showed.
Hudbay has been working to expand its U.S. copper holdings. In March, it struck a $1.48 billion deal to buy the rest of Arizona Sonoran Copper Company, according to Reuters, which said the move hands Hudbay the Cactus project in Arizona. “We believe this deal makes sense for Hudbay as it adds another meaningful project to the Arizona pipeline,” RBC Capital Markets analyst Sam Crittenden told Reuters. Reuters
The run is based on a handful of things that could turn fast: Middle East headlines, copper prices, and how Hudbay executes its projects. The company says risks include shaky commodity prices, rising costs, permitting issues, political and social risk in Peru, and not knowing if the Arizona Sonoran deal will close.
Hudbay’s Toronto shares are the easier route at the moment. The stock on the NYSE closed at $24.39 last Friday, but trading was paused Monday due to Memorial Day.
