The Globe and Mail reports in its Wednesday edition that Desjardins Securities analyst Bryce Adams is keeping his "buy" recommendation for Hudbay Mineral intact. The Globe's David Leeder writes that Mr. Adams gave his share target a $4 boost to $40. Analysts on average target the shares at $38.77. Mr. Adams says in a note: "On Friday, [Hudbay Minerals] reported a 4Q25 earnings miss and issued 2026 guidance which includes higher capex. That said, after model updates, we view [Hudbay's] strong balance sheet (net debt $440-million (U.S.) ex leases, or 0.4 times TTM [trailing 12-month] EBITDA) as supporting its future growth plans. Further, with Copper World funded by partner contributions through 2028, excess FCF can support other high-IRR growth and shareholder returns (incl increased dividends of one-cent/sh quarterly from .01-cent/sh semi-annually and potential share buyback through May, 2026)." The Globe reported on May 28, 2024, April 4, 2025, and May 14, 2025, that Mr. Adams rated Hudbay "outperformer." It was then worth $13.43, $8.93 and $11.87. The Globe reported on Feb. 24, 2026, that ATB Cormark Capital Markets analyst Stefan Ioannou had reaffirmed his "outperform" call for Hudbay. It was then worth $38.12.