The Globe and Mail reports in its Thursday edition that emerging markets are in turmoil, and there is a buying opportunity here for investors who want to bet on a rebound. The Globe's David Berman writes that emerging markets are reacting to weaker commodity prices and rising U.S. interest rates, but some are also struggling with specific domestic issues, such as Argentina and Turkey. Hudbay Minerals is among the few Canadian companies which stand out for their involvement in emerging markets. Hudbay's shares have tumbled this year, shadowing a 21-per-cent decline in the MSCI Emerging Markets Index since late January. When emerging markets recover, Hudbay and some other domestic stocks should regain their former glory. The copper and zinc producer's share price has wilted 48 per cent this year as investors expect that weaker economic activity among emerging markets will sap China's appetite for industrial metals, which are also slumping. If you think it's best to buy commodity producers when they are stone cold, then now is the time. A consensus of analysts expect that Hudbay's share price will rise 85 per cent within a year. A rebound that strong, of course, will require emerging markets to do their part.