National Bank 02:55 PM EST, 02/23/2024 (MT Newswires) -- National Bank Financial on Friday reiterated its sector-perform rating on the shares of HudBay Minerals (HBM.TO, HBM) while pushing its price target to C$8.75 from C$8.50 after the miner reported fourth-quarter results.
"We incorporated Q4/23 financial results and updated our model to reflect 2024 operating guidance which was broadly in line with NBF Estimates. We await detailed three-year operating outlook alongside updated reserves & resources in March as well as a partnership agreement/permits at Copper World representing the most significant near-term catalysts," analyst Shane Nagle wrote.