Hudbay Minerals Inc T.HBM

CIBC Raises Target

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CIBC World Markets analyst Bryce Adams upgraded Ero Copper Corp.  to “outperformer” from “neutral” on Thursday with a $36 target, up from $32 and exceeding the $35.06 average on the Street.

He also made these other target adjustments to stocks in his coverage universe:

• Cameco Corp. ( “outperformer”) to $80 from $74. The average is $76.48.
• Capstone Copper Corp. ( “outperformer”) to $12 from $10.50. Average: $13.08.
• Filo Corp. ( “outperformer”) to $40 from $38.50. Average: $34.08.
• First Quantum Minerals Ltd. ( “neutral”) to $18 from $15. Average: $19.48.
• Hudbay Minerals Inc. ( “outperformer”) to $15.50 from $14.50. Average: $16.01.
• Lundin Mining Corp. ( “neutral”) to $16 from $15. Average: $17.97.

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More details. GLTA “In our last base metals update we were more constructive on copper pricing and shifted from a cautious tone that we held from mid-2022 to late-2023,” he said. “In hindsight, we should have been more positive on copper fundamentals as pricing increased from roughly $3.80/lb at the time of our report and surpassed $5/lb in May 2024, well ahead of our forecast. Since then