HBM vs. HL

Last updated Apr 2, 2026

Compare and contrast key facts about Hudbay Minerals Inc. (HBM) and Hecla Mining Company (HL).

Performance

HBM vs. HL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hudbay Minerals Inc. (HBM) and Hecla Mining Company (HL). The values are adjusted to include any dividend payments, if applicable.

HBM vs. HL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HBM Hudbay Minerals Inc.	10.87%	145.46%	47.03%	9.24%	-29.87%	3.82%	69.50%	-11.77%	-46.20%	54.77%
HL Hecla Mining Company	-0.03%	291.70%	2.82%	-12.93%	6.99%	-18.97%	91.83%	44.43%	-40.37%	-24.08%

Fundamentals

Market Cap HBM : $8.80B HL : $12.92B
EPS HBM : $1.43 HL : $0.65
PE Ratio HBM : 15.33 HL : 29.42
PEG Ratio HBM : 0.10 HL : 0.12
PS Ratio HBM : 3.95 HL : 8.92
PB Ratio HBM : 2.73 HL : 4.99
Total Revenue (TTM) HBM : $2.22B HL : $1.42B
Gross Profit (TTM) HBM : $719.02M HL : $622.20M
EBITDA (TTM) HBM : $1.41B HL : $563.50M

Returns By Period

In the year-to-date period, HBM achieves a 10.87% return, which is significantly higher than HL's -0.03% return. Over the past 10 years, HBM has underperformed HL with an annualized return of 20.12%, while HL has yielded a comparatively higher 21.56% annualized return.

HBM

• 1D: 5.26%
• 1M: -17.70%
• YTD: 10.87%
• 6M: 43.18%
• 1Y: 185.98%
• 3Y*: 61.54%
• 5Y*: 25.04%
• 10Y*: 20.12%

HL

• 1D: 2.95%
• 1M: -22.11%
• YTD: -0.03%
• 6M: 56.52%
• 1Y: 250.60%
• 3Y*: 45.42%
• 5Y*: 27.09%
• 10Y*: 21.56%

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

Return for Risk

HBM vs. HL — Risk / Return Rank

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

HBM

HBM Risk / Return Rank: 95
HBM Sharpe Ratio Rank: 97
HBM Sortino Ratio Rank: 94
HBM Omega Ratio Rank: 93
HBM Calmar Ratio Rank: 94
HBM Martin Ratio Rank: 96

HL

HL Risk / Return Rank: 94
HL Sharpe Ratio Rank: 97
HL Sortino Ratio Rank: 93
HL Omega Ratio Rank: 92
HL Calmar Ratio Rank: 94
HL Martin Ratio Rank: 94

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 vs. HL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hudbay Minerals Inc. (HBM) and Hecla Mining Company (HL). 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	HL	Difference
Sharpe ratio Return per unit of total volatility	3.31	3.43	-0.12
Sortino ratio Return per unit of downside risk	3.40	3.28	+0.12
Omega ratio Gain probability vs. loss probability	1.46	1.43	+0.03
Calmar ratio Return relative to maximum drawdown	5.26	5.34	-0.09
Martin ratio Return relative to average drawdown	18.82	15.21	+3.61
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 vs. HL - Sharpe Ratio Comparison

The current HBM Sharpe Ratio is 3.31, which is comparable to the HL Sharpe Ratio of 3.43. The chart below compares the historical Sharpe Ratios of HBM and HL, 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	HL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.31	3.43	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.46	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.34	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.01	+0.18

Correlation

The correlation between HBM and HL is 0.45, 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 vs. HL - Dividend Comparison

HBM's dividend yield for the trailing twelve months is around 0.06%, less than HL's 0.08% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HBM Hudbay Minerals Inc.	0.06%	0.07%	0.17%	0.31%	0.32%	0.22%	0.21%	0.36%	0.38%	0.23%	0.35%	0.52%
HL Hecla Mining Company	0.08%	0.08%	0.81%	0.65%	0.40%	0.72%	0.25%	0.29%	0.42%	0.25%	0.19%	0.53%

Drawdowns

HBM vs. HL - Drawdown Comparison

The maximum HBM drawdown since its inception was -92.21%, smaller than the maximum HL drawdown of -97.92%. Use the drawdown chart below to compare losses from any high point for HBM and HL.

Drawdown Indicators

	HBM	HL	Difference
Max Drawdown Largest peak-to-trough decline	-92.21%	-97.92%	+5.71%
Max Drawdown (1Y) Largest decline over 1 year	-36.16%	-45.95%	+9.79%
Max Drawdown (5Y) Largest decline over 5 years	-65.47%	-63.30%	-2.17%
Max Drawdown (10Y) Largest decline over 10 years	-86.34%	-82.45%	-3.89%
Current Drawdown Current decline from peak	-22.32%	-39.69%	+17.37%
Average Drawdown Average peak-to-trough decline	-52.92%	-70.07%	+17.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.10%	16.14%	-6.04%

Volatility

HBM vs. HL - Volatility Comparison

Hudbay Minerals Inc. (HBM) has a higher volatility of 20.94% compared to Hecla Mining Company (HL) at 18.45%. This indicates that HBM's price experiences larger fluctuations and is considered to be riskier than HL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBM	HL	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.94%	18.45%	+2.49%
Volatility (6M) Calculated over the trailing 6-month period	42.64%	58.18%	-15.54%
Volatility (1Y) Calculated over the trailing 1-year period	56.55%	73.62%	-17.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.17%	59.67%	-4.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.46%	62.96%	-3.50%

Financials

HBM vs. HL - Profitability Comparison

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

HBM - 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 245.92M and revenue of 737.06M. Therefore, the gross margin over that period was 33.4%.

HL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Hecla Mining Company reported a gross profit of 248.21M and revenue of 448.11M. Therefore, the gross margin over that period was 55.4%.

HBM - 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%.

HL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Hecla Mining Company reported an operating income of 220.04M and revenue of 448.11M, resulting in an operating margin of 49.1%.

HBM - 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%.

HL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Hecla Mining Company reported a net income of 134.41M and revenue of 448.11M, resulting in a net margin of 30.0%.