By Adriano Marchese

Hudbay Minerals profit and revenue rose in the first quarter on the back of lower costs, while production fell.

The Canadian mining company, primarily focused on copper concentrate and zinc, posted on Monday a net income of $100.4 million, or 25 cents a share, up from $22.3 million, or 6 cents a share, in the comparable quarter a year ago.

Hudbay credits the performance to low consolidated cash cost performance and its execution on planned strategies. Sustaining cash cost per pound of copper produced came to 72 cents in the quarter.

Adjusted earnings were 24 cents a share. According to FactSet, analysts were expecting 10 cents a share.

Revenue rose to $594.9 million from $525 million.

Production in the quarter fell from a year earlier virtually across the board. Copper fell over 11%, while gold and silver output were down 18% and 3%, respectively. Zinc output fell 29%. Molybdenum output, which represents a small portion of its production, remained unchanged.

For the full year, the company reaffirmed its full year guidance of 117,000 to 149,000 tons of copper and 247,500 to 308,000 ounces of gold.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

May 12, 2025 06:37 ET (10:37 GMT)

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