Orion Resource Partners Exits Hudbay Minerals Position
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 11 2026
0mins
Should l Buy HBM?
Source: Fool
Hudbay Minerals Inc. saw its stock price drop by 5.04% as it crossed below the 5-day SMA.
The decline follows Orion Resource Partners' complete exit from its position in Hudbay, selling 167,225 shares for approximately $2.53 million. This strategic move comes after Hudbay's stock surged nearly 200% over the past year, reflecting strong fundamentals and robust market performance. Despite the exit, Hudbay reported record annual revenue of $2.2 billion, indicating solid financial health.
This exit by Orion highlights the challenges investors face in deciding whether to lock in gains after significant stock appreciation, suggesting a cautious approach in the current market environment.
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Analyst Views on HBM
Wall Street analysts forecast HBM stock price to rise
10 Analyst Rating
10 Buy
0 Hold
0 Sell
Strong Buy
Current: 18.820
Low
17.24
Averages
20.63
High
24.79
Current: 18.820
Low
17.24
Averages
20.63
High
24.79
About HBM
Hudbay Minerals Inc. is a Canada-based copper-focused critical minerals company with three operations and a pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. The Company's operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). The Company's growth pipeline includes the Copper World project in Arizona (United States), the Mason project in Nevada (United States), the Llaguen project in La Libertad (Peru) and several expansion and exploration opportunities near its existing operations. The Copper Mountain Mine, located south of Princeton, British Columbia, is a conventional open pit, truck and shovel operation. The Constancia mine is located in the province of Chumbivilcas in southern Peru. Its primary production is copper, complemented by gold production and by-products, such as zinc, silver, and molybdenum.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Hudbay Releases 2026 Production Guidance with Increased Copper and Gold Output
- Copper Production Growth: Hudbay anticipates copper production to reach 147,000 tonnes in 2026, a 24% increase from 2025, with further growth to 159,000 tonnes in 2027 and 2028, reflecting the effectiveness of optimization projects across its stable operations in the Americas.
- Gold Production Outlook: The company expects gold production to average 243,000 ounces over the next three years, a 9% decrease from 2025, but the anticipated contributions from the New Ingerbelle project starting in 2028 will enhance its gold production capabilities.
- Mine Life Extension: The expected mine life of the Constancia mine has been extended to 2040, with average annual copper production projected to reach 90,000 tonnes in 2027 and 2028, benefiting from higher mill throughput and optimization initiatives, thereby reinforcing Hudbay's resource base.
- Strategic Partnership: The $600 million joint venture transaction with Mitsubishi secures a 30% stake in the Copper World project, marking a significant step in the company's strategic positioning and financial stability in copper development.
See More
Orion Resource Partners Exits Hudbay Minerals Position
- Position Exit Overview: On February 17, 2026, Orion Resource Partners disclosed to the SEC that it sold its entire position of 167,225 shares in Hudbay Minerals for an estimated value of $2.53 million, resulting in a net position value of zero, indicating a complete exit from the stock.
- Impact of Holdings Change: This sale led to a net value change of $2.53 million in Orion's portfolio, highlighting the decision to lock in gains after Hudbay's remarkable 200% increase over the past year, despite the company's strong fundamentals.
- Company Performance Highlights: Hudbay Minerals reported record annual revenue of $2.2 billion and over $1 billion in adjusted EBITDA in its latest earnings release, demonstrating that robust metal market performance driven by electrification and infrastructure demand has significantly enhanced the company's financial flexibility.
- Portfolio Concentration: The decision to exit Hudbay Minerals underscores the concentration of Orion's remaining holdings in resource and mining sectors, suggesting a strategy focused on locking in some gains while continuing to explore investment opportunities in other precious metals and minerals.
See More
Orion Resource Partners Fully Exits Hudbay Minerals
- Complete Exit: Orion Resource Partners sold 167,225 shares of Hudbay Minerals in Q4, resulting in a $2.53 million decrease in position value, marking a full exit from Hudbay, which previously accounted for 0.92% of the fund's AUM.
- Significant Financial Impact: The estimated transaction value of $2.53 million reflects a net position value change to zero, indicating a strategic adjustment in Orion's resource investment approach.
- Strong Market Performance: Hudbay Minerals' stock surged approximately 200% over the past year, driven by robust metal market performance and investor interest in electrification and infrastructure demand, showcasing the company's competitive advantage in the global mining sector.
- Investor Decision Challenges: With Hudbay's stock price soaring, investors face tough decisions on locking in gains, and Orion's exit appears to be a move to realize some profits rather than a broader strategic shift.
See More
Impending Copper Shortage: These 3 Mining Companies Are Prepared
Copper Shortage Excitement: The anticipated copper shortage should excite investors, particularly those focused on long-term material stocks, as the demand for copper is expected to rise while supply diminishes.
Opportunities for Small-Cap Miners: Small-cap copper miners may benefit from the current market conditions, as existing operations are more likely to thrive due to the challenges of establishing new mines.
Taseko Mines Expansion: Taseko Mines is expanding its production in British Columbia and has started copper production at its Florence project in Arizona, aiming for significant output increases in the coming years.
Acquisition Trends: The acquisition of Arizona Sonoran Copper by Hudbay Minerals highlights the trend of growth through acquisition in the mining sector, potentially creating a major hub for copper production in North America.
See More
Nokomis Capital Initiates Position in Apple Hospitality REIT
- New Investment Position: Nokomis Capital, L.L.C. disclosed in an SEC filing dated February 17, 2026, that it initiated a new position in Apple Hospitality REIT (APLE) with 479,576 shares valued at $5.68 million, indicating confidence in the company's potential.
- Asset Allocation Insight: This position represents 1.35% of Nokomis Capital's 13F reportable assets as of December 31, 2025, highlighting its significance in the diversified investment portfolio and potentially influencing future investment strategies.
- Market Performance Review: As of February 17, 2026, Apple Hospitality REIT shares were priced at $12.29, reflecting a 13.6% decline over the past year and underperforming the S&P 500 by 24.6 percentage points, showcasing market caution regarding the industry's recovery.
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Nokomis Capital Acquires Stake in Apple Hospitality REIT
- New Investment Position: Nokomis Capital has acquired 479,576 shares of Apple Hospitality REIT, amounting to approximately $5.68 million, indicating confidence in the REIT despite it representing only 1.35% of the fund's assets under management.
- Quarter-End Position Value: As of December 31, 2025, the reported value of Nokomis Capital's position stood at $5.68 million, reflecting the combined effects of new share purchases and market price changes, highlighting the fund's strategy of diversification.
- Market Performance Analysis: Apple Hospitality REIT's shares are priced at $12.29, down 13.6% over the past year and underperforming the S&P 500 by 24.6 percentage points, indicating a cautious market sentiment that could affect future investor confidence.
- Industry Dynamics Observation: The hotel industry has gradually recovered from the demand collapse in 2020, with future performance relying on the sustainability of travel demand; Nokomis Capital's investment decisions should focus on key metrics like revenue per available room (RevPAR) for Apple Hospitality.
See More
Hudbay Releases 2026 Production Guidance with Increased Copper and Gold Output
- Copper Production Growth: Hudbay anticipates copper production to reach 147,000 tonnes in 2026, a 24% increase from 2025, with further growth to 159,000 tonnes in 2027 and 2028, reflecting the effectiveness of optimization projects across its stable operations in the Americas.
- Gold Production Outlook: The company expects gold production to average 243,000 ounces over the next three years, a 9% decrease from 2025, but the anticipated contributions from the New Ingerbelle project starting in 2028 will enhance its gold production capabilities.
- Mine Life Extension: The expected mine life of the Constancia mine has been extended to 2040, with average annual copper production projected to reach 90,000 tonnes in 2027 and 2028, benefiting from higher mill throughput and optimization initiatives, thereby reinforcing Hudbay's resource base.
- Strategic Partnership: The $600 million joint venture transaction with Mitsubishi secures a 30% stake in the Copper World project, marking a significant step in the company's strategic positioning and financial stability in copper development.
See More
Orion Resource Partners Exits Hudbay Minerals Position
- Position Exit Overview: On February 17, 2026, Orion Resource Partners disclosed to the SEC that it sold its entire position of 167,225 shares in Hudbay Minerals for an estimated value of $2.53 million, resulting in a net position value of zero, indicating a complete exit from the stock.
- Impact of Holdings Change: This sale led to a net value change of $2.53 million in Orion's portfolio, highlighting the decision to lock in gains after Hudbay's remarkable 200% increase over the past year, despite the company's strong fundamentals.
- Company Performance Highlights: Hudbay Minerals reported record annual revenue of $2.2 billion and over $1 billion in adjusted EBITDA in its latest earnings release, demonstrating that robust metal market performance driven by electrification and infrastructure demand has significantly enhanced the company's financial flexibility.
- Portfolio Concentration: The decision to exit Hudbay Minerals underscores the concentration of Orion's remaining holdings in resource and mining sectors, suggesting a strategy focused on locking in some gains while continuing to explore investment opportunities in other precious metals and minerals.
See More
Orion Resource Partners Fully Exits Hudbay Minerals
- Complete Exit: Orion Resource Partners sold 167,225 shares of Hudbay Minerals in Q4, resulting in a $2.53 million decrease in position value, marking a full exit from Hudbay, which previously accounted for 0.92% of the fund's AUM.
- Significant Financial Impact: The estimated transaction value of $2.53 million reflects a net position value change to zero, indicating a strategic adjustment in Orion's resource investment approach.
- Strong Market Performance: Hudbay Minerals' stock surged approximately 200% over the past year, driven by robust metal market performance and investor interest in electrification and infrastructure demand, showcasing the company's competitive advantage in the global mining sector.
- Investor Decision Challenges: With Hudbay's stock price soaring, investors face tough decisions on locking in gains, and Orion's exit appears to be a move to realize some profits rather than a broader strategic shift.
See More
Impending Copper Shortage: These 3 Mining Companies Are Prepared
Copper Shortage Excitement: The anticipated copper shortage should excite investors, particularly those focused on long-term material stocks, as the demand for copper is expected to rise while supply diminishes.
Opportunities for Small-Cap Miners: Small-cap copper miners may benefit from the current market conditions, as existing operations are more likely to thrive due to the challenges of establishing new mines.
Taseko Mines Expansion: Taseko Mines is expanding its production in British Columbia and has started copper production at its Florence project in Arizona, aiming for significant output increases in the coming years.
Acquisition Trends: The acquisition of Arizona Sonoran Copper by Hudbay Minerals highlights the trend of growth through acquisition in the mining sector, potentially creating a major hub for copper production in North America.
See More
Nokomis Capital Initiates Position in Apple Hospitality REIT
- New Investment Position: Nokomis Capital, L.L.C. disclosed in an SEC filing dated February 17, 2026, that it initiated a new position in Apple Hospitality REIT (APLE) with 479,576 shares valued at $5.68 million, indicating confidence in the company's potential.
- Asset Allocation Insight: This position represents 1.35% of Nokomis Capital's 13F reportable assets as of December 31, 2025, highlighting its significance in the diversified investment portfolio and potentially influencing future investment strategies.
- Market Performance Review: As of February 17, 2026, Apple Hospitality REIT shares were priced at $12.29, reflecting a 13.6% decline over the past year and underperforming the S&P 500 by 24.6 percentage points, showcasing market caution regarding the industry's recovery.
- Industry Dynamics Impact: The hotel sector's revenue volatility means future performance will depend on sustained travel demand, with Apple Hospitality REIT's earnings closely tied to room rates and occupancy levels, making revenue per available room (RevPAR) a critical metric for investors to monitor.
See More
Nokomis Capital Acquires Stake in Apple Hospitality REIT
- New Investment Position: Nokomis Capital has acquired 479,576 shares of Apple Hospitality REIT, amounting to approximately $5.68 million, indicating confidence in the REIT despite it representing only 1.35% of the fund's assets under management.
- Quarter-End Position Value: As of December 31, 2025, the reported value of Nokomis Capital's position stood at $5.68 million, reflecting the combined effects of new share purchases and market price changes, highlighting the fund's strategy of diversification.
- Market Performance Analysis: Apple Hospitality REIT's shares are priced at $12.29, down 13.6% over the past year and underperforming the S&P 500 by 24.6 percentage points, indicating a cautious market sentiment that could affect future investor confidence.
- Industry Dynamics Observation: The hotel industry has gradually recovered from the demand collapse in 2020, with future performance relying on the sustainability of travel demand; Nokomis Capital's investment decisions should focus on key metrics like revenue per available room (RevPAR) for Apple Hospitality.
See More
