GLOBE SAYS Globe says Hudbay Minerals maintained at "outperform"
Hudbay Minerals Inc (C:HBM)
Shares Issued 393,662,771
Last Close 12/10/2024 $13.31
Wednesday December 11 2024 - In the News
The Globe and Mail reports in its Wednesday, Dec. 11, edition that National Bank Financial analysts Shane Nagle and Rabi Nizami have a cautious outlook for copper as we enter 2025, citing demand uncertainty and near-term supply growth while maintaining a favorable view on long-term fundamentals.
The Globe's David Leeder writes in the Eye On Equities column that Mr. Nagle and Mr. Nizami are forecasting a surplus in copper markets in 2025. Mr. Nagle continues to rate Hudbay Minerals "outperform," with an unchanged share target of $16.75.
Analysts on average target the shares at $16.31. Mr. Nagle says in a note, "Our O/P rating is based on a stable production outlook, elevated gold prices supporting FCF, upcoming permit/partnership agreement for Copper World, advancement of significant exploration targets in Peru and a discounted valuation.
" The Globe reported on June 11, July 16 and Oct. 16 that Mr. Nagle had reaffirmed his "outperform" recommendation for Hudbay. The shares could then be had for $12.47, $12.54 and $12.65. The Globe reported on Nov. 29 that TD Cowen analyst Craig Hutchison had reiterated his "buy" recommendation for Hudbay when it was going for $12.49.