Hudbay cuts cost outlook as Copper Mountain improves - The Northern Miner

AI desk brief

Hudbay lowered annual copper cash-cost guidance after by-product credits to negative $0.55–$0.35/lb, supported by gold revenue. Third-quarter gold output rose 30% to 69,513 oz, exceeding analyst forecasts; annual gold guidance remains 217,000–272,000 oz. Copper Mountain generated its first positive quarterly free cash flow under Hudbay ownership, but group cash generation depends materially on definitions: Hudbay reported $201.9 million excluding working-capital changes and growth capital, versus BMO’s roughly $2 million deficit after working capital and total capital spending. The improvements primarily affect Hudbay’s operating and financing outlook; the source establishes no material directional bullion effect.