HBM - Hudbay Minerals open to acquisition offers CEO tells Reuters

2023-07-07 09:06:11 ET

Hudbay Minerals ( NYSE: HBM ) +4.2% pre-market Friday after CEO Peter Kukielski told Reuters the company would entertain acquisition offers if the price is right.

Hudbay ( HBM ) is seen by analysts as one of the potential acquisition targets of large miners which are seeking to secure copper supply for the transition towards electrification.

"We are a friendly company," Kukielski told Reuters, and the management and board are not against receiving an offer, "but if they undervalue our company, they are wasting our time."

Kukielski said there is a potential for some mid-size copper companies to come together to create one mega copper company, and "I would certainly like to put them together," he said.

More on Hudbay Minerals:

• Financial and valuation comparison to sector peers
• Analysis: Hudbay Minerals: Building A Mid-Tier Americas-Focused Copper Producer
• Stock price return: Down 10.5% YTD, up 20.5% in the past 12 months

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