10 Stocks Plummet on Wednesday

4. Hudbay Minerals Inc. (NYSE:HBM)

Hudbay Minerals Inc. (NYSE:HBM) dropped for a second day on Wednesday, losing 13.62 percent to finish at $7.74 apiece following mixed earnings results last year, coupled with weak outlook guidance for 2025.

In its earnings release, HBM said attributable net income declined by 30.9 percent to $21.2 million in the fourth quarter of 2024 from $30.7 million in the same period last year, as revenues dipped 2.87 percent to $584.9 million from $602.2 million.

However, attributable net income for full-year 2024 increased by 15.5 percent to $76.7 million from $66.4 million in 2023, as revenues grew by 19.6 percent to $2.02 billion from $1.69 billion.

For this year, HBM said it expects consolidated copper production to remain stable with 2024 levels at 133,000 tons, but consolidated gold production would be lower than in 2024.