RBC Capital Markets $10.00 RBC Capital Markets on Friday maintained its outperform rating on the shares of HudBay Minerals (HBM.TO, HBM) and its C$10.00 price target after the company released production guidance for the next three years.
"We expect a neutral reaction from Hudbay shares to a mixed guidance update, slight decline in overall reserves, and an
initial resource estimate for the Llaguen project, analyst Sam Crittenden wrote. "Hudbay also stated that they are seeing disruptions in Peru beginning to resolve with logistics and mining activities normalizing since mid-February. Looking ahead, the company continues to de-risk the Copper World project with a pre-feasibility study still on track for mid-2023, a bulk sampling program, and the two remaining (of 3) state level permits could come mid-year."