Hudbay Minerals (TSX:HBM) just posted second-quarter earnings that made some investors do a double take. Sales surged to $536 million from $425 million last year, and a net loss has swung dramatically to a $118 million profit. Not only did earnings per share turn positive, but Hudbay also underscored its confidence by reaffirming full-year production guidance for both copper and gold, two metals at the heart of its story. The market seems to be digesting a company that is firing on more cylinders, and that naturally brings up the big question: is Hudbay now in a different league?
The current momentum is hard to overlook. The stock has jumped 35% in the past three months and is up 48% over the past year, outpacing most materials sector peers. Earlier in the year, management made leadership changes and stuck to its dividend, showing consistency alongside operational growth. Quarterly production numbers for copper ticked upward, while…
