March 29, 2019 / 1:25 PM / 7 months ago

BUZZ- Hudbay Minerals: Credit Suisse raises PT after co approves $122 mln for Rosemont mine

** Credit Suisse raises PT of Canadian miner to C$12.50 from C$10.50; maintains “outperform” rating

** Hudbay Minerals revises capex budget to $122 mln from $20 mln for early works plan at its Rosemont copper mine in Arizona

** “We rate Hudbay outperform due to the stock’s positive outlook following receipt of necessary Rosemont permits and improved operations across its portfolio” - CS

** Early works at Roesemont will consist of funding the construction of a water pipeline and power transmission to site, advance critical engineering and technical work - CS

** 13 of 19 brokerages rate the stock “buy” or higher, and 6 “hold”; their median PT is $11

** Up to Thursday’s close, stock has risen 44 pct this year (Reporting by Shradha Singh in Bengaluru)

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