- Hudbay published an updated Snow Lake mine plan in Manitoba outlining 27.0 million tonnes of mineral reserves, about 2.0 million ounces of gold and a reserve life to 2043.
- The updated plan projects a substantial increase in life-of-mine gold production from Snow Lake, driven by resource conversion and expanded mining areas.
- ATB Cormark Capital Markets raised its Hudbay price target to C$40.00 from C$35.00 and kept an outperform rating in a report dated Oct 9, 2026, implying 7.10% upside.
- Hudbay shares rose C$1.26 to C$37.35 on Friday, Oct 9, 2026.
- Consensus among analysts is an average Buy rating and a consensus price target of C$42.56.
Quotes
“outlining 27.0 million tonnes of mineral reserves containing about 2.0 million ounces of gold and a reserve life to 2043”
“raised their price target for Hudbay Minerals (TSE:HBM) to C$40.00 from C$35.00”