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Investing.com - RBC Capital has raised its price target on HudBay Minerals (NYSE:HBM) (TSX:HBM) to C$19.00 from C$17.00 while maintaining an Outperform rating on the stock. The mining company, currently valued at $4.27 billion, has shown impressive momentum with a 20.79% return over the past week and maintains a strong "Buy" consensus among analysts, according to InvestingPro data.
The price target increase follows HudBay’s partnership announcement with Mitsubishi Corporation, which will take a 30% stake in the company’s Copper World project located in Arizona.
RBC Capital noted that HudBay has also revised its streaming agreement with Wheaton Precious, calling these developments "key steps towards advancing Copper World towards a sanction decision in 2026."
The research firm expressed optimism about HudBay’s ability to unlock further value as it works to de-risk the Copper World project, which is targeting production in 2029.
RBC Capital’s maintained Outperform rating signals continued confidence in HudBay Minerals’ growth strategy and operational execution.
In other recent news, Hudbay Minerals Inc. reported its second-quarter 2025 earnings, surpassing analyst expectations. The company achieved an adjusted earnings per share (EPS) of $0.19, significantly higher than the projected $0.11, representing a 72.73% surprise. Hudbay Minerals also reported revenue of $536.4 million, which was slightly above the anticipated $534.39 million. These results reflect positively on the company’s financial performance and have garnered attention from investors. The earnings report has been a focal point for analysts, though specific upgrades or downgrades were not mentioned. The company’s ability to exceed both earnings and revenue forecasts is a noteworthy development. These recent figures highlight Hudbay Minerals’ strong operational execution during the quarter.
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