Copper Miner Hudbay Soars 200% in a Year as One Investor Exited a $2.5 Million Position
Key Points
Orion Resource Partners sold 167,225 shares of Hudbay Minerals in the fourth quarter.
The quarter-end position value decreased by $2.53 million as a result.
The move marked a full exit from Hudbay Minerals; the position previously accounted for 0.92% of the fund’s AUM.
On February 17, 2026, Orion Resource Partners disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it sold out its position in Hudbay Minerals (NYSE:HBM), with an estimated transaction value of $2.53 million based on previously disclosed position values.
What happened
According to an SEC filing dated February 17, 2026, Orion Resource Partners LP sold its entire holding of 167,225 shares in Hudbay Minerals. The shares had been worth $2.53 million as of the end of the previous quarter. The fund’s quarter-end position in Hudbay Minerals is now zero as a result, with the net position value change reflecting the same amount.
What else to know
- Top holdings after the filing:
- NYSE: SKE: $65.93 million (32.4% of AUM)
- NYSEMKT: SLSR: $40.07 million (19.7% of AUM)
- NYSEMKT: DC: $29.43 million (14.5% of AUM)
- NYSEMKT: IAUX: $25.57 million (12.6% of AUM)
- NASDAQ: MEOH: $5.01 million (2.5% of AUM)
- As of February 17, 2026, shares of Hudbay Minerals were priced at $25.19, up some 200% over the past year and far surpassing the S&P 500’s roughly 20% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 2026-02-17) | $25.19 |
| Market capitalization | $9.98 billion |
| Revenue (TTM) | $2.2 billion |
| Net income (TTM) | $568.5 million |
Company snapshot
- Hudbay Minerals produces copper concentrates, gold, silver, molybdenum, and zinc metals from operations in North and South America.
- The firm operates a vertically integrated mining model, generating revenue primarily from the sale of base and precious metals extracted from owned mines and processing facilities.
- It serves global commodity buyers, industrial manufacturers, and metal traders seeking reliable sources of copper and other metals.
Hudbay Minerals is a diversified mining company with a significant presence in both North and South America, operating multiple mines and processing facilities. The company leverages its integrated asset base to efficiently extract and market copper and other key metals, supporting a stable revenue stream. Its scale, geographic diversification, and focus on essential industrial metals provide a competitive advantage in the global mining sector.
What this transaction means for investors
Massive rallies can force investors to make difficult decisions. When a mining stock triples in a year, the question often becomes less about the company’s quality and more about how much of the upside has already been captured. And Hudbay Minerals sits squarely in that conversation after an extraordinary run.
The copper and gold producer has surged roughly 200% over the past year as metals markets strengthened and investors piled into companies tied to electrification and infrastructure demand. That outperformance was on full display in the firm’s latest earnings release, which included record annual revenue of $2.2 billion and over $1 billion in adjusted EBITDA. CEO Peter Kukielski emphasized the firm’s focus on deleveraging its balance sheet and lowering its cost of capital amid growing financial flexibility.
Within the portfolio, the exit is notable given how concentrated the remaining holdings are in resource and mining names. Positions tied to silver, gold, and other materials still dominate the top of the portfolio, making this seem more like a decision to lock in some gains as opposed to any broader strategy pivot.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends Methanex. The Motley Fool has a disclosure policy.