HudBay Minerals Inc (HBM) is Upgraded by RBC Capital Mkts to Outperform, Price Target at $7.50

HudBay Minerals Inc (HBM) was Upgraded by RBC Capital Mkts to ” Outperform” and the brokerage firm has set the Price Target at $7.50. Earlier the firm had a rating of “Sector Perform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on May 16, 2016.

On the company’s financial health, HudBay Minerals Inc reported $-0.07 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.03. The company had revenue of $253.60 million for the quarter, compared to analysts expectations of $286.52 million. The company’s revenue was up 97.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.08 EPS.

HudBay Minerals Inc closed down -0.15 points or -3.86% at $3.74 with 2,19,913 shares getting traded on Friday. Post opening the session at $3.85, the shares hit an intraday low of $3.6774 and an intraday high of $3.91 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

HudBay Minerals Inc. (Hudbay) is a Canada-based mining company. The Company is engaged in the production of copper concentrate consisting of copper gold and silver as well as zinc metal. The Company is focused on the discovery production and marketing of base and precious metals in North and South America. Through its subsidiaries the Company owns copper/zinc/gold mines ore concentrators and a zinc production facility in northern Manitoba and Saskatchewan and copper projects in Cusco (Peru) and Arizona (United States). The Company’s properties include 777 Mine Lalor Mine Reed Mine. The Company also owns 100% interests of Constancia project in Peru and Rosemont project is a copper project located in Pima County Arizona.

HudBay Minerals Inc

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