BofA Raises its Price Target on Hudbay Minerals Inc. (HBM) to $32.50 and Maintains a Buy Rating

Price Target Adjustments - BofA raised its price target on Hudbay Minerals Inc. (NYSE: HBM) to $32.50 from $27.50 while maintaining a Buy rating, following updated 2026 metal price forecasts [1] - Scotiabank lowered its price target on Hudbay Minerals to C$35.50 from C$37, keeping an Outperform rating [2] Financial Performance - Hudbay reported Q4 adjusted EPS of $0.22, below the consensus estimate of $0.39, and revenue of $732.9 million, slightly below the consensus of $734.56 million [3] - The company achieved record annual revenue of $2.2 billion in 2025 and over $1 billion in adjusted EBITDA, supported by consistent copper production guidance for 11 consecutive years [3] - Hudbay generated over $380 million in free cash flow and reported record throughput in Manitoba, with strong performance in Peru driven by high-grade Pampacancha ore [3] Company Overview - Hudbay Minerals Inc. is a diversified mining company focused on exploration, development, and operation of properties in North and South America, producing copper, gold, silver, zinc, and molybdenum concentrates [4]