Copper Rally Boosts HBM's Market Cap by 1.5 Trillion Won in Just One Day

Shares of Canada-based copper miner Hudbay Minerals Inc. (NYSE: HBM) jumped 9.47% on the New York Stock Exchange, closing at $26.70—a level equivalent to roughly KRW 36,000 per share.

The company’s market capitalization swelled to about $10.6 billion (approximately KRW 14 trillion), rising by some $1.1 billion (KRW 1.5 trillion) in a single day. Trading volume hit 2.26 million shares, reflecting a sharp surge in investor demand.

In its Q1 2026 results announced May 1, Hudbay posted record quarterly revenue of $757.3 million and adjusted EBITDA of $421.9 million, delivering net income of $190.4 million.

Earlier this year, Hudbay secured key permits in February for the New Ingerbelle expansion at its Copper Mountain mine in British Columbia, Canada. In March, it unveiled plans to acquire Arizona Sonoran Copper, aiming to build one of North America’s three largest copper production hubs in Arizona.

Headquartered in Toronto, Hudbay focuses on copper mining across operations that include the Constancia mine in Peru and the Snow Lake and Copper Mountain mines in Manitoba and British Columbia, while also producing gold, silver, zinc and molybdenum.

With development projects such as Copper World in Arizona and Mason in Nevada, the company targets expanding annual copper output from about 125,000 tonnes today to over 250,000 tonnes by 2030—positioning itself as a leading beneficiary of rising copper demand driven by electric vehicles and the global energy transition.