National Bank Says! National Bank of Canada gave Hudbay a sector perform rating with a $10.50 price target, citing the miner's recent headline risk in Peru and near-term deleveraging efforts within its discounted valuation.
The bank also noted Hudbay's near-term synergies to unlock at the Copper Mountain project and a prudent plan in advancing the Copper World project.
National Bank said some near-term volatility is anticipated for Hudbay given the impact on copper prices for the underlying macroenvironment, as well as possible litigation against the Copper World project.