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TORONTO - In a recent shareholders’ meeting for Hudbay Minerals Inc. (TSX, NYSE: HBM), a copper-focused critical minerals company with a market capitalization of $3.32 billion, all nine nominated individuals were elected as directors with an overwhelming majority. The election took place during the Annual and Special Meeting of Shareholders on Tuesday. According to InvestingPro data, the company maintains strong financial health with revenue of $2.09 billion and a healthy current ratio of 2.32, indicating solid liquidity.
The company, which operates in Canada, Peru, and the United States, reported that the nominees received between 98.54% to 99.83% of the votes in favor. John E.F. Armstrong and Peter Kukielski secured the highest approval with 99.83% of votes for their election. The lowest approval was for Colin Osborne, who still received a notable 98.54% of the votes.
Hudbay’s portfolio includes the Constancia mine in Peru, the Snow Lake operations in Manitoba, and the Copper Mountain mine in British Columbia. The company’s primary product is copper, supplemented by the production of gold, zinc, silver, and molybdenum.
The company is involved in several growth projects, including the Copper World project in Arizona, the Mason project in Nevada, and the Llaguen project in Peru. These initiatives are part of Hudbay’s strategy to leverage its strengths in community relations, exploration, mine development, and efficient operations to create sustainable value and strong returns.
Hudbay emphasizes its commitment to sustainability and community impact, stating that it aims to provide metals needed globally while working sustainably and transforming lives for the better in the communities where it operates.
The detailed voting results from the shareholders’ meeting reflect confidence in the company’s governance and strategic direction. Hudbay’s statement, based on a press release, did not include any forward-looking statements or promotional content but focused on the election results and the company’s current projects and operational philosophy.
In other recent news, HudBay Minerals Inc. reported a strong financial performance for the first quarter of 2025, surpassing analyst expectations. The company achieved an earnings per share of $0.24, exceeding the forecasted $0.18, and reported revenues of $594.9 million, above the anticipated $567.67 million. HudBay also highlighted a record adjusted EBITDA of $287 million, a 12% increase from the previous quarter, driven by robust copper and gold production. Additionally, HudBay’s strategic focus on optimizing operations and expanding its copper production capacity was emphasized.
In terms of analyst activity, the company has not reported any recent upgrades or downgrades from major firms. However, HudBay’s future prospects remain optimistic with plans to increase copper production by 50% through its Copper World project. The company projects significant copper and gold production over the next three years, with strategic exploration and development initiatives expected to enhance growth further.
Other notable developments include HudBay’s acquisition of Mitsubishi Materials’ 25% minority interest in Copper Mountain, consolidating a 100% interest in the mine. This acquisition reinforces HudBay’s position as a significant copper producer in Canada. The company is also advancing its Copper World project, which is fully permitted and expected to significantly increase HudBay’s copper production once operational.
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