Is ERO or HBM more undervalued in 2026?

CirclFi compares Ero Copper Corp. (ERO) and Hudbay Minerals Inc. (HBM) using 13 institutional-grade valuation models. ERO has a Quality of Company score of 9.1/10 while HBM scores 2.2/10.

Which is a better buy — ERO or HBM?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do ERO and HBM valuations compare?

ERO at $29.86 and HBM at $28.23 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

ERO vs HBM Valuation Comparison 2026 — Intrinsic Value Analysis

ERO

Copper

Ero Copper Corp.

Quality

9.1

out of 10

Value Trap

SAFE

Price

$29.86

Last close

Models

13/13

Active

HBM

Copper

Hudbay Minerals Inc.

Quality

2.2

out of 10

Value Trap

SAFE

Price

$28.23

Last close

Models

13/13

Active

Model-by-Model Comparison

Model	Type	ERO Fair Value	ERO Upside	HBM Fair Value	HBM Upside
Bayesian DCF	Intrinsic	$13.88	-53.5%	$13.20	-53.2%
Earnings Power Value	Intrinsic	$24.84	-16.8%	$10.60	-55.8%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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ERO vs HBM — Which Stock Is More Undervalued?

ERO scores higher with a 9.1/10 quality rating vs HBM's 2.2/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Ero Copper Corp. (ERO) and Hudbay Minerals Inc. (HBM) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

ERO currently trades at $29.86 with a QOC of 9.1/10, while HBM trades at $28.23 with a QOC of 2.2/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).