There’s a lot to be optimistic about in the Materials sector as 3 analysts just weighed in on Hudbay Minerals (HBM), Kinross Gold (KGC) and Roxgold (ROGFF) with bullish sentiments.
Hudbay Minerals (HBM)
CIBC analyst Bryce Adams reiterated a Buy rating on Hudbay Minerals yesterday and set a price target of C$14.00. The company’s shares closed last Wednesday at $8.57, close to its 52-week high of $9.60.
According to TipRanks.com, Adams is a 4-star analyst with an average return of 24.0% and a 74.6% success rate. Adams covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals, Torex Gold Resources, and Capstone Mining.
Currently, the analyst consensus on Hudbay Minerals is a Strong Buy with an average price target of $10.32, implying a 16.6% upside from current levels. In a report issued on April 27, Credit Suisse also maintained a Buy rating on the stock with a C$13.00 price target.
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