11 Best TSX Stocks to Buy According to Hedge Funds

7. Hudbay Minerals Inc. (NYSE:HBM)

Number of Hedge Fund Holders: 40

Stock Upside: 21.34%

Hudbay Minerals Inc. (NYSE:HBM) is one of the best TSX stocks to buy according to hedge funds. On March 27, Hudbay Minerals Inc. (NYSE:HBM) said it expects its copper output over the 2026-2028 period to average 147,000 tons per year, a 24% increase from the 2025 production. The firm forecast that the production will step up further to 159,000 tons per year in 2027 and 2028, a 28% jump. All this will be possible because of optimization work at Copper Mountain and as throughput upgrades at Constancia come online.

The company also expects gold production to average 243,000 ounces per year over the three-year period. This will be anchored by strong output from the Snow Lake operation in Manitoba and a new contribution from the New Ingerbelle deposit in British Columbia beginning in 2028, Hudbay said in the annual mineral reserve and resource update.

Hudbay added that mine life at Constancia in Peru has been extended to 2040. This will be supported by an upgrade in mill throughput to more than 90,000 tons per day. The upgrade was made possible by the installation of two pebble crushers expected in the second half of 2026.

At Snow Lake in Manitoba, Hudbay stated that the reserve update added approximately 330,000 ounces of gold. It also extended mine life by four years to 2041.

Hudbay Minerals Inc. (NYSE:HBM) is a mining company engaged in the exploration, development, and operation of base and precious metal properties. Its core operations include copper-focused mines such as Constancia in Peru and Snow Lake in Manitoba, alongside gold production as a by-product.