Originally posted by RidgebackGlobe says Hudbay Minerals reaffirmed at "buy"
Hudbay Minerals Inc (C:HBM)
Shares Issued 261,517,637
Last Close 9/21/2021 $6.78
Wednesday September 22 2021 - In the News
The Globe and Mail reports in its Wednesday edition that iA Capital Markets analyst Puneet Singh has reaffirmed his "buy" recommendation for Hudbay Minerals. The Globe's David Leeder writes that Mr. Singh upgraded his share target to $14 from $12.90. Analysts on average target the shares at $14.09. Mr. Singh says Hudbay's valuation is "misrepresented. Mr. Singh says in a note: "The Peru political overhang has rendered Hudbay way too cheap at just two times 2022 cash flow per share. The market is ignoring cash flow boosters from Pampacancha and New Britannia and missing the exploration success the company has had. It's in the best interest of Peru to work with mining companies on a deal that would be amenable for both parties. Too high of a tax bill would deter investment from a country that relies heavily on mining. We note, Constancia does have a tax stability agreement until 2031 in place." The Globe reported on April 1 that RBC had boosted Hudbay to "outperform" from "sector perform." It was then worth $8.60. The Globe reported on May 13 that BMO kept Hudbay at "outperform." It was then worth $10.43. The Globe reported on July 22 that Credit Suisse rated Hudbay "outpeform." It was then worth $7.62.