Commodity markets supported non-ferrous miners in Q4 2025, with precious metals and copper showing strength. Zacks Basic Materials sector expects year-over-year earnings growth, driven by a 9.5% rise in revenues due to higher commodity prices. Four mining companies, including HBM, LUNMF, FQVLF, and TECK, are expected to beat earnings estimates.

Gold prices reached record levels in Q4 2025, averaging $4,135 per ounce, up 55% year over year. Silver prices also rose significantly, hitting $82.67 per ounce, up 74% year over year. Copper prices ranged from $4.80 to $5.89 per pound, with an average of $5.21, up 22% year over year.

HudBay Minerals, LUNMF, FQVLF, and TECK are expected to benefit from the favorable commodity price dynamics in Q4 2025, despite a challenging operating environment with higher input costs. These companies have focused on improving throughput and optimizing their portfolios to mitigate cost impacts.

Identifying stocks poised to beat earnings estimates can be done by looking for positive Earnings ESP and Zacks Rank #1, 2, or 3. HudBay Minerals, with an Earnings ESP of +0.40% and Zacks Rank of 3, is set to release Q4 2025 results on Feb. 20. They have seen a 36.7% increase in earnings estimates over the past 60 days.

First Quantum Minerals, with an Earnings ESP of +26.15% and Zacks Rank of 3, will release Q4 2025 results on Feb. 10. Their earnings estimate is seven cents per share, up 75% from the previous year. First Quantum produced 101 thousand tons of copper in Q4, a 10% decrease from the year-ago quarter.

Teck Resources, with an Earnings ESP of +25.77% and Zacks Rank of 3, will report Q4 2025 results on Feb. 19. Their earnings estimate is 53 cents per share, up 60.6% year over year. Teck saw a 9.9% increase in copper production but a 5.1% decline in copper sales in Q4.

Lundin Mining, with an Earnings ESP of +11.49% and Zacks Rank of 3, is set to release Q4 2025 results on Feb. 18. Their earnings estimate is 30 cents per share, up 150% year over year. Lundin Mining’s copper production in Q4 was down 14% year over year, while gold output decreased by 27%.

Zacks Investment Research highlights potential outperformers in the mining sector for Q4 2025, focusing on companies like HudBay Minerals, First Quantum Minerals, Teck Resources, and Lundin Mining. These companies are expected to benefit from rising commodity prices and improved operational performance in a challenging environment.

Read more at Nasdaq: 4 Mining Stocks Likely to Outperform Earnings Estimates in Q4