Raymond James raised the firm’s price target on Hudbay Minerals (HBM) to C$26 from C$18.50 and keeps an Outperform rating on the shares. The firm slightly adjusted its 2025 and 2026 copper price forecast given continuing supply challenges in the sector and continues to favor copper in the base metals complex where the firm expects growing deficits in the medium to long term, the analyst tells investors in a research note.
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