TORONTO, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Hudbay Minerals Inc. ("Hudbay" or the "Company") (TSX, (TSX, NYSE:HBM) is pleased to announce that it has surpassed a total of one million ounces of gold produced at its Lalor Mine in Snow Lake, Manitoba. This milestone reinforces the significant value Hudbay has unlocked by combining its exploration expertise, processing infrastructure and operating efficiency to maximize gold production at its Snow Lake operations. "We are so pleased with the dedication and hard ...

Company Overview - Hudbay Minerals is a copper-focused critical minerals company with three long-life mining operations and a strong pipeline of copper growth projects in Canada, Peru, and the United States [2] - The primary metal produced by the company is copper, complemented by significant gold production [2] Mission and Values - The company's mission is to create sustainable value and strong returns by leveraging its strengths in community relations, focused exploration, mine development, and efficient operations [2] - Hudbay emphasizes its commitment to people, communities, and the planet, stating that it provides essential metals while working sustainably to transform lives and create better futures for communities [2] Market Presence - Hudbay celebrated its 20th listing anniversary on the Toronto Stock Exchange, highlighting its established presence in the market [1]

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Core Viewpoint - Hudbay Minerals Inc. has received the Air Quality Permit for the Copper World project, marking a significant milestone as it is the final major permit required for development and operation. The project is expected to produce 85,000 tonnes of copper annually over an initial 20-year mine life [1][2]. Group 1: Project Development and Economic Impact - The Copper World project is anticipated to increase Hudbay's consolidated annual copper production by over 50% from current levels, contributing significantly to the U.S. supply chain with plans to produce Made-in-America copper [2]. - Over the initial 20-year mine life, Hudbay expects to contribute more than $850 million in U.S. taxes, including approximately $170 million to the state of Arizona, and create over 400 direct jobs and up to 3,000 indirect jobs [4]. - The estimated initial capital investment for Phase I of Copper World is approximately $1.3 billion, with an additional $0.4 billion required in year four for a concentrate leach facility [12]. Group 2: Permitting and Regulatory Progress - Hudbay has completed all three key state permits required for Copper World: the Mined Land Reclamation Plan, the Aquifer Protection Permit, and the Air Quality Permit [3]. - The Air Quality Permit was received on January 2, 2025, following a robust process that included public comment periods [3]. Group 3: Financial Strategy and Planning - Hudbay has introduced a three prerequisites plan (3-P) for project sanctioning, which includes the completion of all required permits, a definitive feasibility study with an internal rate of return greater than 15%, and a prudent financing strategy [5][26]. - The company has generated $840 million in adjusted EBITDA and reduced net debt by $506 million for the twelve months ending September 30, 2024, improving its net debt to adjusted EBITDA ratio to 0.7x [6]. - A minority joint venture partner process is anticipated to commence early in 2025, which will participate in funding the definitive feasibility study activities and final project design [7]. Group 4: Project Specifications and Future Outlook - Copper World is located in Pima County, Arizona, and includes seven deposits discovered in 2021, with a new resource model completed for the preliminary economic assessment in 2022 [9]. - The project is one of the highest-grade open pit copper projects in the Americas, with proven and probable mineral reserves of 385 million tonnes at 0.54% copper [14]. - The internal rate of return for Phase I is estimated at 19% based on a copper price of $3.75 per pound, with an after-tax net present value of $1.1 billion [13].

Core Viewpoint - Micron Technology reported Q1 2025 earnings results that met estimates, but the guidance for Q2 2025 was significantly below market expectations, resulting in a 16% selloff in after-hours trading [2]. Financial Performance - Q1 2025 earnings results were in line with estimates [2]. - Management's revenue guidance for Q2 2025 is projected at $7.9 billion, which is $1 billion below the consensus estimate of $8.9 billion [2]. Market Reaction - The guidance led to a 16% decline in Micron's stock price during after-hours trading [2].

Core Insights - Micron Technology, Inc. reported better than expected fiscal Q1 earnings for FY 2025 but provided weak guidance for the second fiscal quarter [1] Financial Performance - The company achieved better than expected earnings in its first fiscal quarter of FY 2025 [1] - Specific financial figures were not disclosed in the provided content Future Outlook - Micron issued a weak guidance for the second fiscal quarter, indicating potential challenges ahead [1]

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Management's Discussion and Analysis of Results of Operations and Financial Condition For the three and nine months ended September 30, 2024 November 12, 2024 TABLE OF CONTENTS | I | n | t | r | o | du | c | t | i | o | n | 1 | O | u | r | B | u | s | i | n | e | s | s | 1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

Core Insights - HudBay Minerals reported revenue of $485.77 million for the quarter ended September 2024, reflecting a 1.1% increase year-over-year and surpassing the Zacks Consensus Estimate by 3.88% [1] - The company achieved an EPS of $0.13, significantly higher than the $0.07 from the same quarter last year, resulting in an EPS surprise of 160% compared to the consensus estimate of $0.05 [1] Financial Performance Metrics - Copper production in Manitoba reached 3,398 tons, exceeding the average estimate of 2,654.43 tons [3] - Zinc production in Manitoba was 8,069 tons, above the average estimate of 7,732.65 tons [3] - Gold production in Manitoba totaled 62,468 ounces, surpassing the average estimate of 47,181.62 ounces [3] - Silver production in British Columbia was 55,963 ounces, below the average estimate of 89,248.26 ounces [3] - Copper production in British Columbia was 6,736 tons, lower than the average estimate of 8,394.13 tons [3] - Silver production in Manitoba reached 281,397 ounces, exceeding the average estimate of 219,848.7 ounces [3] Revenue Breakdown - Revenue from copper contracts was $261.30 million, which is a 21.8% decrease year-over-year and below the average estimate of $318.46 million [3] - Revenue from zinc contracts was $24.20 million, representing a 36% increase year-over-year and above the average estimate of $21.06 million [3] - Revenue from gold contracts was $176.40 million, reflecting a 37.4% increase year-over-year and exceeding the average estimate of $140.40 million [3] - Revenue from silver contracts was $12.70 million, which is a 23.3% increase year-over-year but below the average estimate of $20.93 million [3] - Revenue from molybdenum contracts was $16.80 million, a 25% decrease year-over-year and above the average estimate of $14.56 million [3] - Total revenue from contracts was $491.40 million, below the average estimate of $531.80 million [3] Stock Performance - HudBay Minerals' shares have declined by 4.3% over the past month, contrasting with a 3% increase in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

HudBay Minerals (HBM) came out with quarterly earnings of $0.13 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to earnings of $0.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 160%. A quarter ago, it was expected that this mining company would post earnings of $0.06 per share when it actually produced break-even earnings, delivering a surprise of -100%.Over the last four quarters, the com ...