GLOBE SAYS Globe says Hudbay Minerals maintained at "buy"
Hudbay Minerals Inc (C:HBM)
Shares Issued 393,662,771
Last Close 11/29/2024 $12.49
Friday November 29 2024 - In the News
The Globe and Mail reports in its Friday, Nov. 29, edition that analysts at TD Cowen have named Hudbay Minerals to their "Best Ideas 2025? list. The Globe's David Leeder writes in the Eye On Equities column that the analysts rate Hudbay Minerals "buy," with a $16 share target.
Analysts on average target the shares at $16.32. TD Cowen analyst Craig Hutchison says in a note: "With three operating assets and an attractive growth project in Copper World progressing toward FID the company is well positioned for investors looking for copper growth exposure in top-tier jurisdictions and is our 'Top Pick' in the base metals space.
In contrast to many of its peers, HudBay's copper production growth is expected to come from stable jurisdictions (the U.S. and Canada). Additionally, we view the company's current flagship operation, the Constancia mine in Peru, as an attractive low-cost, long-life cash flow generating asset with significant exploration potential.
Another differentiator relative to peers, nearly one-third of the company's revenues come from gold, which offers investors exposure to more defensive-oriented cash flows with gold prices near record highs."