Hudbay Minerals IncHBMCOMMENTFeb 05, 2024Stock price when the opinion was issued
As of Sep 03, 2026. Market Open.
Copper is booming from the data centre build. The chart shows a mild uptrend. It bounced off its 200-day moving average in July, then its 50-day and has kept running. If it takes out $44.50, Land predicts the stock will reach $50. The RSI is pulling back after approaching overbought. The TTM Squeeze indicator looks good.
It has bought Copper Mountain at a discount to the stock price. His comments were more general in nature and related to companies that mine copper. Global copper inventories are heading down and could be negative by August. This could lead to a big uptick in copper prices so don't sell your copper stocks.
She is underweight in materials since they depend on the underlying commodity prices. The dividend yield is only 2% and debt levels are quite high because of many recent acquisitions. Their flagship mine is in Peru which could raise political concerns.