Louisbourg Investments has disclosed a new position in Hudbay Minerals (NYSE:HBM), acquiring 263,900 shares in a trade estimated at $5.25 million. The transaction was based on quarterly average pricing and was filed with the SEC on January 16.
The new stake in Hudbay Minerals represents 1.05% of Louisbourg Investments' U.S. equity portfolio as reported in its 13F filing. This position places it outside the fund's top five holdings.
As of December 31, the fund's top holdings included Canadian National Railway (NYSE:CNI) at $28.72 million, Alphabet (NASDAQ:GOOGL) at $14.78 million, Microsoft (NASDAQ:MSFT) at $13.29 million, iShares Core S&P 500 ETF (NYSEMKT:IVV) at $12.25 million, and Wheaton Precious Metals (NYSE:WPM) at $10.80 million.
Hudbay Minerals shares were priced at $22.76 on January 15. The stock has risen 159.8% over the past year, outperforming the S&P 500 by approximately 143.1 percentage points.
The company reported revenue of $2.06 billion and net income of $461.7 million over the trailing twelve months. Its dividend yield stands at 0.06%.
Hudbay Minerals produces copper concentrates containing copper, gold, and silver, along with silver/gold doré, molybdenum concentrates, and zinc metals. The company operates a vertically integrated mining business, generating revenue from extraction, processing, and sale of base and precious metals from owned mines and facilities in North and South America.