HBM.TO vs. ERO.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Hudbay Minerals Inc. (HBM.TO) and Ero Copper Corp. (ERO.TO).

Performance

HBM.TO vs. ERO.TO - Performance Comparison

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HBM.TO Hudbay Minerals Inc.	6.93%	134.08%	60.29%	6.88%	-25.13%	3.05%	66.44%	-16.44%	-41.80%	13.92%
ERO.TO Ero Copper Corp.	-4.53%	100.36%	-7.49%	12.39%	-3.42%	-5.48%	-13.51%	140.67%	29.42%	59.58%

Fundamentals

Market Cap HBM.TO : CA$11.65B ERO.TO : CA$3.88B
EPS HBM.TO : CA$1.43 ERO.TO : CA$2.54
PE Ratio HBM.TO : 20.30 ERO.TO : 14.58
PEG Ratio HBM.TO : 0.14 ERO.TO : 0.15
PS Ratio HBM.TO : 5.23 ERO.TO : 4.89
PB Ratio HBM.TO : 3.61 ERO.TO : 4.16
Total Revenue (TTM) HBM.TO : CA$2.22B ERO.TO : CA$790.77M
Gross Profit (TTM) HBM.TO : CA$639.91M ERO.TO : CA$346.87M
EBITDA (TTM) HBM.TO : CA$1.41B ERO.TO : CA$516.88M

Returns By Period

In the year-to-date period, HBM.TO achieves a 6.93% return, which is significantly higher than ERO.TO's -4.53% return.

HBM.TO

• 1D: 9.80%
• 1M: -24.61%
• YTD: 6.93%
• 6M: 38.23%
• 1Y: 167.25%
• 3Y*: 60.46%
• 5Y*: 26.45%
• 10Y*: 20.38%

ERO.TO

• 1D: 6.80%
• 1M: -20.55%
• YTD: -4.53%
• 6M: 31.50%
• 1Y: 112.68%
• 3Y*: 15.74%
• 5Y*: 11.02%
• 10Y*: —

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

Return for Risk

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

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

HBM.TO

HBM.TO Risk / Return Rank: 94
HBM.TO Sharpe Ratio Rank: 97
HBM.TO Sortino Ratio Rank: 94
HBM.TO Omega Ratio Rank: 93
HBM.TO Calmar Ratio Rank: 93
HBM.TO Martin Ratio Rank: 95

ERO.TO

ERO.TO Risk / Return Rank: 86
ERO.TO Sharpe Ratio Rank: 91
ERO.TO Sortino Ratio Rank: 85
ERO.TO Omega Ratio Rank: 84
ERO.TO Calmar Ratio Rank: 86
ERO.TO Martin Ratio Rank: 86

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.

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

This table presents a comparison of risk-adjusted performance metrics for Hudbay Minerals Inc. (HBM.TO) and Ero Copper Corp. (ERO.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.

	HBM.TO	ERO.TO	Difference
Sharpe ratio Return per unit of total volatility	3.10	2.02	+1.07
Sortino ratio Return per unit of downside risk	3.26	2.39	+0.86
Omega ratio Gain probability vs. loss probability	1.44	1.32	+0.13
Calmar ratio Return relative to maximum drawdown	4.60	3.04	+1.56
Martin ratio Return relative to average drawdown	16.88	8.37	+8.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current HBM.TO Sharpe Ratio is 3.10, which is higher than the ERO.TO Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of HBM.TO and ERO.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HBM.TO	ERO.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.10	2.02	+1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.22	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.53	-0.53

Correlation

The correlation between HBM.TO and ERO.TO is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HBM.TO vs. ERO.TO - Dividend Comparison

HBM.TO's dividend yield for the trailing twelve months is around 0.07%, while ERO.TO has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HBM.TO Hudbay Minerals Inc.	0.07%	0.07%	0.17%	0.27%	0.29%	0.22%	0.22%	0.37%	0.31%	0.18%	0.26%	0.38%
ERO.TO Ero Copper Corp.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

HBM.TO vs. ERO.TO - Drawdown Comparison

The maximum HBM.TO drawdown since its inception was -92.86%, which is greater than ERO.TO's maximum drawdown of -62.77%. Use the drawdown chart below to compare losses from any high point for HBM.TO and ERO.TO.

Drawdown Indicators

	HBM.TO	ERO.TO	Difference
Max Drawdown Largest peak-to-trough decline	-92.86%	-62.77%	-30.09%
Max Drawdown (1Y) Largest decline over 1 year	-35.94%	-36.71%	+0.77%
Max Drawdown (5Y) Largest decline over 5 years	-62.48%	-62.63%	+0.15%
Max Drawdown (10Y) Largest decline over 10 years	-84.01%	—	—
Current Drawdown Current decline from peak	-24.61%	-27.61%	+3.00%
Average Drawdown Average peak-to-trough decline	-62.58%	-22.82%	-39.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.79%	13.33%	-3.54%

Volatility

HBM.TO vs. ERO.TO - Volatility Comparison

Hudbay Minerals Inc. (HBM.TO) has a higher volatility of 21.05% compared to Ero Copper Corp. (ERO.TO) at 19.09%. This indicates that HBM.TO's price experiences larger fluctuations and is considered to be riskier than ERO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBM.TO	ERO.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.05%	19.09%	+1.96%
Volatility (6M) Calculated over the trailing 6-month period	40.39%	41.24%	-0.85%
Volatility (1Y) Calculated over the trailing 1-year period	54.36%	56.05%	-1.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.71%	51.22%	+0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.99%	51.97%	+4.02%

Financials

HBM.TO vs. ERO.TO - Profitability Comparison

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

HBM.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Hudbay Minerals Inc. reported a gross profit of 166.81M and revenue of 737.06M. Therefore, the gross margin over that period was 22.6%.

ERO.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Ero Copper Corp. reported a gross profit of 165.59M and revenue of 325.08M. Therefore, the gross margin over that period was 50.9%.

HBM.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Hudbay Minerals Inc. reported an operating income of 242.47M and revenue of 737.06M, resulting in an operating margin of 32.9%.

ERO.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Ero Copper Corp. reported an operating income of 142.83M and revenue of 325.08M, resulting in an operating margin of 43.9%.

HBM.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Hudbay Minerals Inc. reported a net income of 129.97M and revenue of 737.06M, resulting in a net margin of 17.6%.

ERO.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Ero Copper Corp. reported a net income of 78.15M and revenue of 325.08M, resulting in a net margin of 24.0%.