11:02 AM EST, 12/10/2024 (MT Newswires) -- National Bank of Canada outlined in a Monday note its top company picks in its base metals coverage.

The bank said Hudbay Minerals ( HBM ) Lundin Mining ( LUNMF ) and Taseko Mines ( TGB ) are its top producer picks.

Solaris Resources ( SLSR ) and NGEx Minerals ( NGXXF ) are National Bank's top developer picks.

"We outline our cautious near-term outlook for copper prices on softer demand growth and rising supply," National Bank said.

"Long-term fundamentals remain favorable which along with recent M&A activity has largely supported equity valuations. At the present time, the market will remain focused on project execution, FCF defensibility and upcoming idiosyncratic catalysts," the bank added.

Price: 13.15, Change: +0.10, Percent Change: +0.77