RBC Capital raised the firm’s price target on Hudbay Minerals (HBM) to C$26 from C$24 and keeps an Outperform rating on the shares. The company continues to generate strong free cash flow and benefit from high copper and gold prices, the analyst tells investors in a research note. The firm sees further upside in the shares as they de-risk the Copper World project in Arizona and unlock regional opportunities in Manitoba and Peru.
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