Analysts have raised Hudbay Minerals' price target from CA$18.62 to CA$19.25, citing greater confidence in management’s growth strategy, robust gold and copper exposure, and expectations for strong free cash flow amid improving operational execution and favorable commodity price trends.
Analyst Commentary
- Bullish analysts highlight Hudbay Minerals' strong exposure to gold and copper, commodities with favorable outlooks, especially in stable jurisdictions.
- Anticipation of attractive free cash flow even before factoring in potential future growth supports higher price targets.
- Multiple upward price target revisions reflect improved sentiment regarding the company’s operational execution and asset base.
- Analysts note increased confidence in management’s growth strategy and potential project pipeline.
- Rising target prices also incorporate increasing expectations for commodity price strength and Hudbay’s leverage to these trends.
What's in the News
- Hudbay Minerals temporarily shut down the Constancia mill in Peru due to social unrest, but expects these disruptions to be resolved without impacting 2025 production and cost guidance.
- The company reaffirmed its production and cost guidance for 2025, with disruptions at Constancia expected to be temporary.
- Operations at Snow Lake in Manitoba were suspended and later fully resumed following wildfire-related evacuation orders, with no structural damage reported; 2025 guidance remains unchanged.
- Q2 2025 consolidated production: copper 29,956 tonnes (up YoY), gold 56,271 ounces (down YoY), silver 814,989 ounces (up YoY), zinc 5,130 tonnes (down YoY), molybdenum 375 tonnes (flat YoY).
- Full year 2025 consolidated guidance reaffirmed: copper 117,000–149,000 tonnes, gold 247,500–308,000 ounces.
Valuation Changes
Summary of Valuation Changes for Hudbay Minerals
- The Consensus Analyst Price Target has risen slightly from CA$18.62 to CA$19.25.
- The Future P/E for Hudbay Minerals has risen slightly from 23.16x to 23.80x.
- The Consensus Revenue Growth forecasts for Hudbay Minerals remained effectively unchanged, at 3.0% per annum.
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