The Globe and Mail reports in its Saturday, May 20, edition that Stifel analyst Alex Terentiew thinks "the world needs more copper to meet its demand growth aspirations," leading to enticing investment opportunities. The Globe's David Leeder writes that Mr. Terentiew says, "Despite indications globally of slowing industrial activity and declining investor sentiment, copper prices have held ground, down 1 per cent year-to-date, solidly outperforming most other industrial commodities." Mr. Terentiew resumed coverage on Hudbay Minerals with a "buy" recommendation and $10.70 share target. Analysts on average target the shares at $10.19. Mr. Terentiew says in a note: "Of all the copper miners in our coverage, we believe Hudbay posts some of the strongest valuation upside on near-term multiples (EV/EBITDA), with the upside driven by higher copper and gold grades at Constancia over the next three years, with higher gold grades at Lalor also pushing out nearly 200 kozpa. Longer term, however, we consider Hudbay to have more limited growth, making its P/NAV valuation relatively more expensive. And yet, we think exploration upside at both Constancia and Lalor have potential to rectify this problem over the next few years."