“China’s imports of industrial metals are booming.”

I borrowed the title from a Globe & Mail article.  I first suggested buying into a metals recovery back in February suggesting Freeport (FCX) and Western Copper and Gold (WRN).  One name I’ve also bought into is not on anyone’s radar screen.  Hudbay Minerals (HBM) is a producer of a range of minerals in hot demand – copper, gold, silver zinc and moybdedum.

   Source: Hudbay 2nd quarter report

The company reported a loss in its most recent 2nd quarter which is not surprising.  The loss would’ve been much less if they didn’t have to shut the Peru (Costancia mine) operation due to COVID-19.  However, as I mentioned in my old book Resources Rock:

“Buy the stock when the company is losing lots of money, and sell the shares when they’re making more money than ever before.”

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