Lawson Winder, an analyst from Bank of America Securities, reiterated the Buy rating on Hudbay Minerals (HBM – Research Report). The associated price target is C$14.00.
Lawson Winder has given his Buy rating due to a combination of factors that highlight Hudbay Minerals’ strategic moves and future potential. The company has announced plans to consolidate its ownership in the Copper Mountain mine, increasing its stake to 100% from 75%, which is expected to enhance its copper production at a favorable valuation. This consolidation is seen as value accretive, providing Hudbay with increased copper output and potential tax synergies.
Additionally, Hudbay’s updated production guidance for 2026 and 2027 indicates a stable production profile with an anticipated rise in 2027. Despite a reduction in the 2026 copper volume estimates, the 2027 production outlook is more optimistic, with higher-than-expected copper and gold volumes. These factors, combined with a positive outlook on copper prices and the potential growth from the Copper World project in Arizona, underpin Winder’s confidence in Hudbay’s future performance, justifying the Buy rating.
Winder covers the Basic Materials sector, focusing on stocks such as Franco-Nevada, Kinross Gold, and Nucor. According to TipRanks, Winder has an average return of 3.5% and a 51.31% success rate on recommended stocks.
In another report released on March 24, Canaccord Genuity also maintained a Buy rating on the stock with a C$14.00 price target.