BofA raised the firm’s price target on Hudbay Minerals (HBM) to $11.25 from $9.50 and keeps a Buy rating on the shares. The firm, which highlighted key takeaways from an investor trip to Panama, also noted continued strength in gold buying from China’s central bank in May and pointed out that the price of gold jumped sharply last week by 4% and is up 31% year-to-date while raising several price objectives among gold miners.
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Read More on HBM:
- Hudbay Minerals provides update on Manitoba operations amid wildfire situation
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- Hudbay Minerals receives TSX approval for normal course issuer bid
- Hudbay Minerals Announces Successful Shareholder Meeting Outcomes
- Hudbay Minerals price target raised to $9.50 from $9 at BofA
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