BMO Capital analyst Rene Cartier downgraded Copper Mountain Mining (CPPMF) to Market Perform from Outperform with a price target of C$3.00, up from C$2.50, after its announced combination with Hudbay Minerals (HBM). The firm states that following a challenging 2022, investors will be able to participate in potential future upside with the combined company, also noting that this combination further plays into the consolidation thematic in the copper space.
Published first on TheFly
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