Hudbay Minerals price target raised to C$14 from C$13 at Jefferies

Jefferies analyst Matthew Murphy raised the firm’s price target on Hudbay Minerals to C$14 from C$13 and keeps a Hold rating on the shares. The firm sees the rise in gold prices providing a “meaningful lift” to forecasted free cash flows for gold-miners this quarter, with more to come in Q3, the analyst tells investors in a preview note for the North American metals and mining group. The firm is hiking price targets an average of 10% to reflect the commodity price deck increases into its models and updated its outlook for recently reported production results.