Scotiabank cuts earnings estimate for Hudbay Minerals stock

Published on 10/05/2026 at 19:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Snow Lake reserves rose 38 percent on September 28. Hudbay Minerals stock costs EUR 24.45 on October 5, 2026 after EUR 24.22.

HBM, CA4436281022, Illustration mit AI erstellt.

Hudbay Minerals (CA4436281022) was trading at EUR 24.45 at Lang & Schwarz on October 5, 2026 at 7:39 p.m. CEST, up EUR 0.23 or 0.95 percent versus the prior close of EUR 24.22. The latest analyst move is a lower fiscal 2027 earnings estimate from Scotiabank, which cut its forecast to USD 1.97 from USD 2.01 in a report dated October 1, 2026, while retaining an Outperform rating.

Scotiabank trims fiscal 2027 estimate

According to MarketBeat on October 5, 2026, Scotiabank lowered its fiscal 2027 earnings per share estimate from USD 2.01 to USD 1.97. The same report puts the current full-year consensus at USD 1.42 per share, leaving Scotiabank's forecast USD 0.55 above that consensus.

The adjustment matters because it contrasts with Hudbay's latest reported quarter. For the second quarter of 2026, the company posted revenue of USD 631.30 million and earnings per share of USD 0.28 against consensus of USD 0.26, while revenue increased 17.70 percent year over year, MarketBeat reported.

Snow Lake adds six years

Hudbay's September 28, 2026 release extended Snow Lake's proven and probable reserve mine life by two years to 2043. The update brings the total extension announced in 2026 to six years and sets average annual gold production at 185,000 ounces from 2026 through 2030, a 37.00 percent increase over the comparable five-year production in the 2021 technical report, according to Hudbay Minerals.

The same plan lifts total life-of-mine gold production to 2.8 million ounces from 1.8 million ounces in the 2021 technical report, a 60.00 percent increase. It also places Snow Lake reserves at 27.0 million tonnes containing 2.0 million ounces of gold as of September 1, 2026, while the 1901 project is expected to reach full production in late 2027, the company said.

Stock holds a measured gain

For investors, the operating update and the estimate cut point in different directions: the mine plan adds measurable production depth, while the Scotiabank revision lowers the expected fiscal 2027 earnings figure. That tension makes the USD 631.30 million second-quarter revenue base and the 17.70 percent year-over-year increase important reference points for judging execution.

EUR 24.45 after the Xetra close

HBM was trading intraday at EUR 24.45 at Lang & Schwarz on October 5, 2026 at 7:39 p.m. CEST, plus 0.95 percent versus the Lang & Schwarz prior close of EUR 24.22 dated October 2, 2026.