ARG.TO vs. HBM.TO

Last updated Jun 4, 2026

ARG.TO (Amerigo Resources Ltd.) and HBM.TO (Hudbay Minerals Inc.) are both stocks. Both operate in the Copper industry within the Basic Materials sector. Over the past 10 years, ARG.TO returned 53.71%/yr vs 23.17%/yr for HBM.TO. At a 0.31 correlation, their price movements are largely independent.

Performance

ARG.TO vs. HBM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Amerigo Resources Ltd. (ARG.TO) and Hudbay Minerals Inc. (HBM.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARG.TO achieves a 59.88% return, which is significantly higher than HBM.TO's 54.77% return. Over the past 10 years, ARG.TO has outperformed HBM.TO with an annualized return of 53.71%, while HBM.TO has yielded a comparatively lower 23.17% annualized return.

ARG.TO

• 1D: -4.90%
• 1M: 16.81%
• YTD: 59.88%
• 6M: 89.76%
• 1Y: 300.43%
• 3Y*: 80.97%
• 5Y*: 51.54%
• 10Y*: 53.71%

HBM.TO

• 1D: -4.33%
• 1M: 42.24%
• YTD: 54.77%
• 6M: 73.70%
• 1Y: 228.91%
• 3Y*: 87.81%
• 5Y*: 35.80%
• 10Y*: 23.17%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARG.TO vs. HBM.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARG.TO Amerigo Resources Ltd.	59.88%	211.73%	23.68%	14.36%	-1.43%	85.47%	35.59%	-33.71%	-19.09%	214.29%
HBM.TO Hudbay Minerals Inc.	54.77%	134.08%	60.29%	6.88%	-25.13%	3.05%	66.44%	-16.44%	-41.80%	45.20%

Correlation

The correlation between ARG.TO and HBM.TO is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Feb 22, 1999	0.31

Over the past year, ARG.TO and HBM.TO have become more correlated (0.65) than their long-term average of 0.31, meaning their price movements have been converging.

Fundamentals

Market Cap ARG.TO : CA$1.16B HBM.TO : CA$16.81B
EPS ARG.TO : CA$0.29 HBM.TO : CA$1.65
PE Ratio ARG.TO : 24.36 HBM.TO : 25.52
PEG Ratio ARG.TO : 0.21 HBM.TO : 0.17
PS Ratio ARG.TO : 3.72 HBM.TO : 7.11
PB Ratio ARG.TO : 9.77 HBM.TO : 4.75
Total Revenue (TTM) ARG.TO : CA$308.76M HBM.TO : CA$2.36B
Gross Profit (TTM) ARG.TO : CA$84.85M HBM.TO : CA$851.84M
EBITDA (TTM) ARG.TO : CA$102.47M HBM.TO : CA$1.50B

Return for Risk

ARG.TO vs. HBM.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARG.TO

ARG.TO Risk / Return Rank: 98
ARG.TO Sharpe Ratio Rank: 99
ARG.TO Sortino Ratio Rank: 98
ARG.TO Omega Ratio Rank: 97
ARG.TO Calmar Ratio Rank: 97
ARG.TO Martin Ratio Rank: 98

HBM.TO

HBM.TO Risk / Return Rank: 95
HBM.TO Sharpe Ratio Rank: 98
HBM.TO Sortino Ratio Rank: 94
HBM.TO Omega Ratio Rank: 93
HBM.TO Calmar Ratio Rank: 94
HBM.TO Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARG.TO vs. HBM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amerigo Resources Ltd. (ARG.TO) and Hudbay Minerals Inc. (HBM.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ARG.TO	HBM.TO	Difference
Sharpe ratio: Return per unit of total volatility	6.06	4.24	+1.82
Sortino ratio: Return per unit of downside risk	5.04	3.97	+1.07
Omega ratio: Gain probability vs. loss probability	1.70	1.53	+0.17
Calmar ratio: Return relative to maximum drawdown	10.54	6.41	+4.13
Martin ratio: Return relative to average drawdown	36.85	21.37	+15.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARG.TO vs. HBM.TO - Sharpe Ratio Comparison

The current ARG.TO Sharpe Ratio is 6.06, which is higher than the HBM.TO Sharpe Ratio of 4.24. The chart below compares the historical Sharpe Ratios of ARG.TO and HBM.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ARG.TO	HBM.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.06	4.24	+1.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.19	0.70	+0.49
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	0.42	+0.48
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	0.00	0.00

Drawdowns

ARG.TO vs. HBM.TO - Drawdown Comparison

The maximum ARG.TO drawdown since its inception was -96.24%, roughly equal to the maximum HBM.TO drawdown of -92.86%. Use the drawdown chart below to compare losses from any high point for ARG.TO and HBM.TO.

Drawdown Indicators

	ARG.TO	HBM.TO	Difference
Max Drawdown Largest peak-to-trough decline	-96.24%	-92.86%	-3.38%
Max Drawdown (1Y) Largest decline over 1 year	-28.72%	-35.94%	+7.22%
Max Drawdown (3Y) Largest decline over 3 years	-29.42%	-38.61%	+9.19%
Max Drawdown (5Y) Largest decline over 5 years	-52.89%	-62.23%	+9.34%
Max Drawdown (10Y) Largest decline over 10 years	-90.00%	-84.01%	-5.99%
Current Drawdown Current decline from peak	-4.90%	-4.33%	-0.57%
Average Drawdown Average peak-to-trough decline	-49.03%	-61.91%	+12.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.20%	10.76%	-2.56%

Volatility

ARG.TO vs. HBM.TO - Volatility Comparison

The current volatility for Amerigo Resources Ltd. (ARG.TO) is 16.64%, while Hudbay Minerals Inc. (HBM.TO) has a volatility of 19.33%. This indicates that ARG.TO experiences smaller price fluctuations and is considered to be less risky than HBM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARG.TO	HBM.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.64%	19.33%	-2.69%
Volatility (6M) Calculated over the trailing 6-month period	39.81%	42.70%	-2.89%
Volatility (1Y) Calculated over the trailing 1-year period	49.94%	54.36%	-4.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.72%	51.66%	-7.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.24%	55.45%	+4.79%

Dividends

ARG.TO vs. HBM.TO - Dividend Comparison

ARG.TO's dividend yield for the trailing twelve months is around 5.15%, more than HBM.TO's 0.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARG.TO Amerigo Resources Ltd.	5.15%	3.96%	10.26%	8.63%	9.09%	1.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HBM.TO Hudbay Minerals Inc.	0.05%	0.07%	0.17%	0.27%	0.29%	0.22%	0.22%	0.37%	0.31%	0.18%	0.26%	0.38%

Financials

ARG.TO vs. HBM.TO - Profitability Comparison

The chart below illustrates the profitability comparison between Amerigo Resources Ltd. and Hudbay Minerals Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ARG.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Amerigo Resources Ltd. reported a gross profit of 26.88M and revenue of 100.54M. Therefore, the gross margin over that period was 26.7%.

HBM.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Hudbay Minerals Inc. reported a gross profit of 339.94M and revenue of 743.51M. Therefore, the gross margin over that period was 45.7%.

ARG.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Amerigo Resources Ltd. reported an operating income of 24.88M and revenue of 100.54M, resulting in an operating margin of 24.7%.

HBM.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Hudbay Minerals Inc. reported an operating income of 296.85M and revenue of 743.51M, resulting in an operating margin of 39.9%.

ARG.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Amerigo Resources Ltd. reported a net income of 14.72M and revenue of 100.54M, resulting in a net margin of 14.6%.

HBM.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Hudbay Minerals Inc. reported a net income of 187.28M and revenue of 743.51M, resulting in a net margin of 25.2%.

Frequently Asked Questions

Can I hold both ARG.TO and HBM.TO in my portfolio?

ARG.TO and HBM.TO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.