11:15 AM EDT, 08/14/2025 (MT Newswires) -- Stifel Canada on Thursday maintained its buy rating on the shares of Hudbay Minerals ( HBM ) , while raising its price target to C$20.00 from C$17.00 following the company's second-quarter results and a sale of a stake in its Copper World project to Mitsubishi.

"The $600 million Copper World JV transaction with Mitsubishi Corporation for a 30% minority interest implies 1.6x our P/NAV, and we estimate a $5.20/lb implied copper price for Phase 1 at 10% discount rate. Mitsubishi's initial investment will consist of $420 million in cash at closing and $180 million within 18 months of closing. Mitsubishi will also fund its pro-rata 30% share of future equity capital contributions. We estimate Hudbay's levered project IRR goes to 90% based on PFS capex estimates, validates an attractive long-term value proposition at Copper World, and is a strong endorsement of technical work done at Copper World to date and balance sheet derisking considerations. We reiterate our BUY rating and increase our target price to C$20.00 (from C$17.00)," analyst Ralph Profiti wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 15.02, Change: -0.57, Percent Change: -3.63