Raymond James analyst Judith Elliott has maintained their bullish stance on HBM stock, giving a Buy rating yesterday.
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Judith Elliott’s rating is based on Hudbay Minerals’ strategic positioning and operational performance. Despite a mixed operating quarter, the company demonstrated resilience with stronger than expected gold production, which helped offset lower copper outputs. The company’s ability to manage costs effectively, particularly in Manitoba, also contributed positively to its financial performance.
Additionally, Hudbay Minerals’ future prospects appear promising with the anticipated developments at Copper World. The company’s plans to release a definitive feasibility study and make a sanctioning decision by 2026 indicate a clear growth trajectory. Furthermore, the improved consolidated cost guidance and reduced capital expenditure forecast reflect a proactive approach to maintaining financial stability, supporting the Buy rating recommendation.
In another report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a C$28.00 price target.
HBM’s price has also changed dramatically for the past six months – from C$11.660 to C$23.830, which is a 104.37% increase.