BMO Capital Upgrades HudBay Minerals (HBM) to Outperform

September 29, 2016 9:09 AM EDT
Get Alerts HBM Hot Sheet
Price: $3.95 +2.60%

Rating Summary:
    3 Buy, 5 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 25 | New: 8
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BMO Capital upgraded HudBay Minerals (NYSE: HBM) from Market Perform to Outperform with a price target of C$6.50 (from C$7.50) on valuation.

Analyst Sasha Bukacheva commented, "In conjunction with the revision of our commodity price forecasts, we are upgrading HudBay Minerals to Outperform from Market Perform while revising the target price to C$6.50 from C$7.50. HudBay's share price has declined by 30% over the last month and we believe offers an attractive entry point given the company's reasonable valuation (shares trades at about half of the peer group on near-term valuation metrics) and potential to be re-discovered as a zinc story."

For an analyst ratings summary and ratings history on HudBay Minerals click here. For more ratings news on HudBay Minerals click here.

Shares of HudBay Minerals closed at $3.68 yesterday.

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