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Analyst Actions: CIBC Gives HudBay "Sector Outperformer" Rating

CIBC World Markets Inc. analyst Alec Kodatsky is sticking with his prediction that HudBay Minerals Inc. (HBM.TO) shares could more than double in coming months, even as the company provided guidance Monday suggesting a modest drop in copper production next year, The Globe and Mail reported.

Mr. Kodatsky reportedly noted that HudBay's revised outlook was in line with expectations and believes shares could get a boost if the company decides to proceed with construction of its Constancia project in Peru in the first quarter of next year.

CIBC World Markets maintained a "sector outperformer" rating and $21.50 price target.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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