Hudbay Minerals (HBM-T)

Doesn't own shares. Considers company a collection of Tier 2 deposits. Prefers better assets in Tier 1 assets. 

Excellent chart that continues to perform. Expecting further strength. Would recommend holding until market cycle turns. 

He wanted exposure to EV and HBM produces copper (for EVs). This has worked veryw ell.

Just because large institutions buying this stock - not always a good reason to buy. Would recommend looking into the quality of business. Current share price is too high in order to invest. Would wait for share price weakness before investing. 

Huge rally. Has now come down in RSI ranking, along with other metal producers. So far, looks like a correction within an uptrend, holding above the early May low of $11-11.50. Last couple of days, price of copper has started to pick back up again, starting to stabilize, and may see stocks do the same.

It is a top copper play and added copper production at the right point in the cycle. However there is political risk in Peru where it has substantial holdings.

Not the highest-quality name. Acquisition in Colorado. Problematic balance sheet, are they paying down debt fast enough for the market? Very leveraged to copper prices. If copper goes to $5, EPS growth on this name is fabulous. Don't buy right now.

It has some very good assets but it is hard to figure out just what it is going to do. Copper didn't come off as expected and is still quite strong. He likes Lundin in the mining space and it fits into his income strategies. He also likes Encore Wire (WIRE), the largest copper recycler in the U.S. and is not a depleting resource business. It trades at a reasonable multiple and its growing consistency takes out the volatility. It has $1/2 billion in cash and is buying back stock.

High USD hurting copper prices. Sputtering China. Recession fears. Capex for recent acquisition higher than anticipated. Copper market really tight. Starting to get debt under control. Decent valuation around 10x 2025 earnings. 

If copper hits $4 in 2024, and $4.50 for 2025, sees them growing well at 62%. Under-owned, perhaps its time has come.

Good, not great, not top tier among base metal companies. Will do well over 10 years, but there are better choices.

A solid name. Well-run company and position properly for growth in copper prices that he expects next year.

Is entering seasonality, because the economy tends to pick up now which benefits the metals sector. Hudbay can benefit. The chart has fallen since early 2022 as it consolidated. Now, the stock is positioned well. Likes it.

Prefers TECK.B. He's attracted to copper in the longer term. In the very near term, the commodity will be weighted by overall economic conditions. TECK.B is more a restructuring play than a copper play right now; well run, wide range of assets; world-class coal assets are undervalued; cashflow is more stable.

Mining higher-grade ore. Increased demand for metals like copper and zinc makes the stock inexpensive here, well below book value. New mines are costly to build. Not a dividend stock, but good prospect of capital appreciation. Sees upside potential to $10-12 over the next few years.

He was buying at the bottom. Around $4 is an okay time to start accumulating shares, based on the chart. He expects rotation as oil stocks probably pull back (he take profits) and minerals might find a bid.