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Benzinga

Business

Akanksha Bakshi

RBC Capital Cuts Hudbay Minerals Price Target By 14%

Hudbay Minerals RBC Capital HBM NYSE TSX Arizona copper

RBC Capital analyst Sam Crittenden lowered the price target for HudBay Minerals Inc (TSX:HBM) (NYSE:HBM) to C$12 from C$14.
The analyst maintained the Outperform rating on the shares.
Crittenden stated that, despite what should be the year's weakest quarter, he continues to expect strong FCF and production growth from Hudbay in 2022.
The analyst believes Hudbay Minerals can create additional value by de-risking the Copper World project in Arizona, starting with a PEA in the coming weeks.
Price Action: HBM shares closed higher by 1.96% at C$7.04 on TSX and higher by 2.26% at $5.42 on NYSE on Wednesday.

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