HBM vs. USAR

Last updated Apr 1, 2026

Compare and contrast key facts about Hudbay Minerals Inc. (HBM) and USA Rare Earth, Inc (USAR).

Performance

HBM vs. USAR - Performance Comparison

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

HBM vs. USAR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HBM Hudbay Minerals Inc.	5.32%	145.46%	47.03%	6.78%
USAR USA Rare Earth, Inc	27.18%	3.66%	11.13%	2.58%

Fundamentals

EPS HBM : $1.43 USAR : -$4.57
PS Ratio HBM : 3.75 USAR : 3.14
Total Revenue (TTM) HBM : $2.22B USAR : $314.13M
Gross Profit (TTM) HBM : $719.02M USAR : $254.80M
EBITDA (TTM) HBM : $1.41B USAR : -$50.51M

Returns By Period

In the year-to-date period, HBM achieves a 5.32% return, which is significantly lower than USAR's 27.18% return.

HBM

• 1D: 9.71%
• 1M: -26.20%
• YTD: 5.32%
• 6M: 37.91%
• 1Y: 175.61%
• 3Y*: 58.80%
• 5Y*: 23.76%
• 10Y*: 19.51%

USAR

• 1D: 6.36%
• 1M: -19.92%
• YTD: 27.18%
• 6M: -11.95%
• 1Y: 154.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

Return for Risk

HBM vs. USAR — 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: 93
HBM Martin Ratio Rank: 96

USAR

USAR Risk / Return Rank: 79
USAR Sharpe Ratio Rank: 78
USAR Sortino Ratio Rank: 85
USAR Omega Ratio Rank: 77
USAR Calmar Ratio Rank: 80
USAR Martin Ratio Rank: 73

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. USAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hudbay Minerals Inc. (HBM) and USA Rare Earth, Inc (USAR). 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	USAR	Difference
Sharpe ratio Return per unit of total volatility	3.14	1.13	+2.00
Sortino ratio Return per unit of downside risk	3.29	2.35	+0.94
Omega ratio Gain probability vs. loss probability	1.44	1.25	+0.19
Calmar ratio Return relative to maximum drawdown	4.76	2.23	+2.53
Martin ratio Return relative to average drawdown	17.20	3.82	+13.38
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. USAR - Sharpe Ratio Comparison

The current HBM Sharpe Ratio is 3.14, which is higher than the USAR Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of HBM and USAR, 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	USAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.14	1.13	+2.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.16	+0.02

Correlation

The correlation between HBM and USAR is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HBM vs. USAR - Dividend Comparison

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

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HBM Hudbay Minerals Inc.	0.07%	0.07%	0.17%	0.31%	0.32%	0.22%	0.21%	0.36%	0.38%	0.23%	0.35%	0.52%
USAR USA Rare Earth, Inc	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 vs. USAR - Drawdown Comparison

The maximum HBM drawdown since its inception was -92.21%, which is greater than USAR's maximum drawdown of -69.23%. Use the drawdown chart below to compare losses from any high point for HBM and USAR.

Drawdown Indicators

	HBM	USAR	Difference
Max Drawdown Largest peak-to-trough decline	-92.21%	-69.23%	-22.98%
Max Drawdown (1Y) Largest decline over 1 year	-36.16%	-69.23%	+33.07%
Max Drawdown (5Y) Largest decline over 5 years	-65.47%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-86.34%	—	—
Current Drawdown Current decline from peak	-26.20%	-60.87%	+34.67%
Average Drawdown Average peak-to-trough decline	-52.93%	-17.18%	-35.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.00%	40.38%	-30.38%

Volatility

HBM vs. USAR - Volatility Comparison

The current volatility for Hudbay Minerals Inc. (HBM) is 20.96%, while USA Rare Earth, Inc (USAR) has a volatility of 25.45%. This indicates that HBM experiences smaller price fluctuations and is considered to be less risky than USAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBM	USAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.96%	25.45%	-4.49%
Volatility (6M) Calculated over the trailing 6-month period	42.37%	88.99%	-46.62%
Volatility (1Y) Calculated over the trailing 1-year period	56.37%	137.64%	-81.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.19%	104.05%	-48.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.45%	104.05%	-44.60%

Financials