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Analyst Actions: UBS Cuts HudBay Minerals Price Target on Rising Capital Expenditures at Constancia Project

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UBS analyst Matt Murphy said in a research note today that HudBay Minerals Inc.'s (HBM.TO) transformation from a cash-rich producer with few growth plans, to predominately a project developer with a robust growth profile, is well underway, the Globe and Mail reported. Mr. Murphy is concerned, however, with rising capital expenditure costs at its Constancia project in Peru and also lowered his resource expectations at the Lalor project in Manitoba.

UBS cut its price target by $1 to $16 while maintaining a "buy" rating.

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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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