HudBay Minerals' stock plummeted 7.24% in pre-market trading on Friday, following the release of its fourth-quarter financial results and 2026 production guidance.
The mining company reported lower-than-expected Q4 adjusted earnings per share and revenue, contributing to negative investor sentiment. Additionally, analysts noted that Hudbay's 2026 copper production guidance midpoint of 124,000 tons is approximately 8% below consensus expectations, representing a meaningful reset driven by reduced expectations at its Copper Mountain and Constancia operations.
While the company's gold production guidance showed improvement with a midpoint of 244,000 ounces compared to previous guidance of 233,500 ounces, the weaker copper outlook appears to have outweighed this positive development in the market's assessment.