RE:Canaccord GenuityI would have to say that the average target price you have quoted here is
$8.90 US, which gives an approx. target price of
$12 CDN.
Ridgeback wrote: Hudbay Minerals Inc (C:HBM)
Shares Issued 237,271,188
Last Close 4/3/2017 $8.91
Tuesday April 4 2017 - In the News
The Globe and Mail reports in its Tuesday, April 4, edition that Canaccord Genuity analyst Dalton Baretto was disappointed with the updated feasibility study for Hudbay Minerals' Rosemont asset in Arizona. The Globe's David Leeder writes in the Eye On Equities column that Mr. Baretto says Rosemont's March 30 update shows the impact of "strained economics," featuring a shorter mine line with higher development costs and all-in sustaining costs. Mr. Baretto says in a note: "The plan has been optimized to pull forward higher grades (and thereby recoveries) earlier in the mine life. As such, average annual copper production over the first 10 years is expected to be 127,00 tonnes, with average AISC of $1.59 per pound. HBM projects overall capex at $1.92-billion, versus our previous estimate of $1.65-billion. The higher project cost has been attributes to various elements, including design features to appease the regulators, as well as higher pre-stripping requirements and higher labour costs. We also believe that the capex estimate contains a significant element of conservatism." Mr. Baretto rates Hudbay "buy." He lowered his share target price by a loonie to $11. Analysts on average target the shares at $8.90.