Triasima Scoops Up Over Half a Million Hudbay Minerals Shares in an $8.1 Million Move

Company Overview - Hudbay Minerals has a market capitalization of $6.40 billion and trailing 12-month revenue of $2.20 billion, with a net income of $289.02 million [3] - The company produces copper, gold, silver, molybdenum, and zinc from its operations in North and South America, operating three polymetallic mines and four ore concentrators [4] - Hudbay's dividend yield stands at 0.09%, with a forward P/E ratio of 14.13 and an EV/EBITDA of 6.70 [3] Recent Developments - Triasima Portfolio Management Inc. established a new position in Hudbay Minerals, purchasing 531,833 shares valued at approximately $8.06 million, representing 1.2% of Triasima's reportable assets [1][2] - Hudbay Minerals shares have increased by 68.7% over the past year, significantly outperforming the S&P 500 by 49.5 percentage points [2] - The stock has risen about 51% since the end of June, indicating strong performance in the metals sector [6] Financial Performance - Hudbay's trailing 12-month revenues have increased by 47.1% over the past decade, with gold accounting for 36% of total revenue in the second quarter [6] - Management has improved expectations for full-year consolidated cash costs for copper production, reducing the midpoint guidance from $0.90 per pound to $0.75 per pound [7] - Recent gold prices have exceeded $4,200 per ounce, attracting investors seeking a hedge against rising government debt [7]