Hudbay Minerals logged a rise in quarterly earnings as higher metal prices more than countered a rise in input costs for the Canadian miner.

The copper producer's net earnings rose in the second-quarter to $138.1 million, or 34 cents a share, from $114.7 million, or 30 cents, a year earlier.

On an adjusted basis, per-share earnings came in at 28 cents, topping the 26 cents a share expected from analysts polled by FactSet.

Revenue for the three months increased 14% to $631.3 million, near the about $632 million mean forecast.

Hudbay, which operates in Peru and Canada and is building mines in the U.S., produced 28,267 metric tons of copper in the latest quarter, down from 29,956 tons in the same period last year but up from 27,929 tons in the first quarter of 2026, as higher mill throughput in British Columbia more than offset lower planned mill throughput in Peru. Gold output declined to 51,234 troy ounces from 61,700 ounces in the prior quarter due to lower milled gold grades and 56,271 ounces last year.

The Toronto-based company in June closed a roughly $1.48 billion deal to buy the outstanding shares of Arizona Sonoran, growing its footprint in southern Arizona where Hudbay is pushing ahead with the Copper World project that is on track for sanctioning late this year. The combination puts Hudbay on a path to grow annual copper production o more than 250,000 tons by 2030 with Copper World and to more than 350,000 tons with the staged development of its Cactus project in Arizona.

For 2026, Hudbay said it continues to expect copper production of between 110,000 and 138,000 tons and gold production of 217,000 to 272,000 ounces.