And here come the Analyst with their increases...Scotiabank Raises Price Target on HudBay Minerals to CA$13.50 From CA$11, Maintains Sector Outperform Rating On Tuesday, BofA Securities made a positive adjustment to HudBay Minerals ' (NYSE:TSX:) stock, upgrading it from Neutral to Buy and setting a new price target of $9.00. The upgrade is based on a bullish outlook for , with expectations for tight mine supply to constrain refined production while demand remains steady, largely due to energy transition initiatives.
BofA Securities noted that their commodities team anticipates copper prices to reach $12,000 per tonne, equivalent to $5.44 per , by the year 2026. This projection has led to an increase in price objectives (POs) across much of their copper coverage.