#2 - Hudbay Minerals (NYSE:HBM)
If you’re willing to invest in a penny stock, Hudbay Minerals (NYSE:HBM) may be of interest. The reason is the Canadian mining company produces copper concentrates containing one or more of the precious metals the company mines.
Copper is going to be one of the essential metals for many aspects of a clean energy economy. Most notably, copper demand is expected to accelerate for electric vehicles and solar panel production.
The good news for investors is that copper stocks are currently not priced with this in mind. In fact, HDM stock is down 45% for the year. But analysts give the stock a price target of $9.83, which would be a 150% gain from the stock’s current level.
There is some concern that copper prices may not recover as quickly as hoped, but investors shouldn’t be too concerned. Hudbay Minerals has a sound balance sheet that will allow the company to weather the current environment, which may threaten less-sound companies.
About Hudbay Minerals
Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.
Read More - Current Price
- $8.63
- Consensus Rating
- Buy
- Ratings Breakdown
- 8 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $9.75 (13.0% Upside)
