Hudbay Minerals Restarts Snow Lake Operations Post Wildfire Disruption

Hudbay Minerals Inc. HBM announced that it resumed operations in the Snow Lake mine, Manitoba, after evacuation orders were lifted on Saturday following a wildfire crisis.

On June 4, 2025, the company announced the temporary suspension of operations in the Snow Lake mine due to advancing wildfires.

Hudbay Minerals' proactive measures and community response initiatives have protected Snow Lake and Flin Flon infrastructure and facilities from structural damage.

HBM has resumed mining operations at the Lalor mine, wherein the company is currently prioritizing the gold zones. The company expects the New Britannia gold mill to reach full production this week and the Stall base metal concentrator to ramp up next week. 

Hudbay Minerals remains on track to meet its 2025 annual guidance for Manitoba, driven by strong year-to-date performance in the Snow Lake mine.

HBM’s Focus on Employee Safety

Hudbay Minerals is working closely with local communities and authorities to help its employees and neighbors return to the region. 

HBM has decided to double its initial commitment, pledging more than $2 million in support. It will now contribute $1.6 million to evacuated employees and a $500,000 donation to the Canadian Red Cross for wildfire relief in the region.

The company has also secured accommodations for evacuated employees and their families, as well as deployed external firefighters.

Hudbay Minerals has started a community Relief Donations Fund, wherein it will contribute $2 for every $1 donated by its employees.

Hudbay Minerals Stock’s Price Performance

Shares of the company have gained 11.6% in the past year compared with the industry’s 1% growth.

HBM’s Zacks Rank & Other Stocks to Consider

The company currently has a Zacks Rank #2 (Buy).

Some other top-ranked stocks from the basic materials space are SSR Mining Inc. SSRM, Carpenter Technology Corporation CRS and ATI Inc. ATI. SSR Mining currently sports a Zacks Rank #1 (Strong Buy), and Carpenter Technology and ATI carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

SSR Mining has an average trailing four-quarter earnings surprise of 58.8%. The Zacks Consensus Estimate for SSRM’s 2025 earnings is pegged at $1.14 per share, implying year-over-year growth of 307%. SSR Mining stock has soared 88.6% in the last year.

Carpenter Technology has an average trailing four-quarter earnings surprise of 11.1%. The Zacks Consensus Estimate for CRS’ 2025 earnings is pegged at $7.20 per share, which indicates year-over-year growth of 51.9%. Carpenter Technology shares have skyrocketed 111% in the last year.

ATI has an average trailing four-quarter earnings surprise of 12.54%. The Zacks Consensus Estimate for ATI’s 2025 earnings is pegged at $3.01 per share, indicating year-over-year growth of 22.4%. ATI shares have jumped 54% in the last year.

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This article originally published on Zacks Investment Research (zacks.com).

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