Hudbay Minerals (HBM.TO) has received approval from the Toronto Stock Exchange to renew a normal course issuer bid, the company said Thursday.
Under the NCIB, Hudbay can acquire up to 19,863,997 shares or 5% of its issued and outstanding shares for cancellation starting June 1 and ending May 31, 2027, or earlier.
Hudbay believes that market price of its shares may not fully reflect the company's underlying value, and repurchasing its shares may constitute a desirable use of capital and would be in the best interests of shareholders.
The miner did not purchase shares under its 2025 NCIB.