Key Points
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Louisbourg Investments bought 263,900 shares of Hudbay Minerals in a trade estimated at $5.25 million.
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The new stake in Hudbay Minerals represents 1.05% of Louisbourg Investments’ U.S. equity portfolio.
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The new position places outside the fund’s top five holdings.
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On January 16, Louisbourg Investments disclosed a new position in Hudbay Minerals (NYSE:HBM), acquiring 263,900 shares in an estimated $5.25 million trade based on quarterly average pricing.
What happened
According to an SEC filing dated January 16, Louisbourg Investments established a new position in Hudbay Minerals, acquiring 263,900 shares. The estimated value of the trade was $5.25 million based on the quarterly average price.
What else to know
This was a new position for the fund, representing 1.05% of its 13F reportable assets under management as of December 31.
Top holdings after the filing:
- NYSE: CNI: $28.72 million (5.7% of AUM)
- NASDAQ: GOOGL: $14.78 million (2.9% of AUM)
- NASDAQ: MSFT: $13.29 million (2.6% of AUM)
- NYSEMKT: IVV: $12.25 million (2.4% of AUM)
- NYSE: WPM: $10.80 million (2.2% of AUM)
As of January 15, Hudbay Minerals shares were priced at $22.76, up a staggering 159.8% over the past year and vastly outperforming the S&P 500 by about 143.1 percentage points.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $2.06 billion |
| Net income (TTM) | $461.7 million |
| Dividend yield | 0.06% |
| Price (as of January 15) | $22.76 |
Company snapshot
- Hudbay Minerals produces copper concentrates containing copper, gold, and silver, as well as silver/gold doré, molybdenum concentrates, and zinc metals
- The company operates a vertically integrated mining business model, generating revenue from the extraction, processing, and sale of base and precious metals from owned mines and facilities in North and South America
- It serves industrial customers and commodity buyers in the metals and mining sector, with a focus on the copper market
Hudbay Minerals is a diversified mining company with a significant presence in North and South America, operating multiple polymetallic mines and processing facilities. The company leverages its integrated asset base to supply copper and other metals, supporting a stable revenue stream and operational scale. Its strategic focus on copper positions it to benefit from long-term demand trends in global infrastructure and electrification.
What this transaction means for investors
After a big surge, adding exposure to Hudbay Minerals pushes Louisbourg further into real-asset and materials-linked upside alongside an existing position in Wheaton Precious Metals. The move brings balance rather than excess. Hudbay now sits at just over 1% of reported assets, well below core holdings like Canadian National or mega-cap tech, suggesting this is a targeted allocation rather than a high-conviction swing.
Fundamentally, Hudbay’s momentum has not been purely speculative. The company has benefited from stronger copper pricing, improving operating leverage across its North and South American assets, and growing investor focus on long-duration copper supply tied to electrification and grid buildout. That backdrop helps explain why investors are still willing to establish new positions even after a 160% run.
With a same-quarter trim in OR Royalties, this doesn’t look like it’s about Louisbourg chasing last year’s return, but rather about selectively adding exposure to copper when balance sheets, asset quality, and secular demand trends are aligned. Plus, Hudbay isn’t serving as a portfolio anchor here, which keeps upside optional while limiting downside if the commodity cycle cools.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet and Microsoft. The Motley Fool recommends Canadian National Railway and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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