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Benzinga
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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