Hudbay minerals is a huge copper producer. I've attached an image of the spot price of copper relative to Hudbays stock price. You will start to see the trend here. Precious metal producers rely very heavily on the underlying commodities they produce.
As such, rising copper prices will result (generally) in a higher stock price for a company like Hudbay.
I will be the first to admit I am not an expert at predicting commodity prices. It is very hard to do so and these companies are going to be extremely volatile. I would wager good money that a decline in copper prices would bring a decline in Hubday prices, and vice versa.
This is also why I really don't like owning these companies for the long term. Commodity prices simply fluctuate too much and as such it's pretty hard to make any sort of meaningful returns over the long term. Prior to this meaningful surge in copper prices, Hudbay's returns had been fairly abysmal over a decade long time period. They effectively lost investors 25%~ over a ten year period. When we consider how much the markets surged over this time, it is a massive underperformance.
You need to buy in and out of these companies based on commodity movements. They're short-term holds to capitalize on rising commodity prices. Most retail investors will struggle to execute the correct entries and exits and ultimately underperform.
