HudBay Minerals Inc (HBM) is Downgraded by Credit Suisse to Neutral

HudBay Minerals Inc (HBM) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Jul 28, 2016.

Many Wall Street Analysts have commented on HudBay Minerals Inc. RBC Capital Mkts Upgraded HudBay Minerals Inc on May 16, 2016 to ” Outperform”, Price Target of the shares are set at $7.50.

On the company’s financial health, HudBay Minerals Inc reported $-0.02 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.02. The company had revenue of $247.00 million for the quarter, compared to analysts expectations of $269.85 million. The company’s revenue was up 63.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.24 EPS.

HudBay Minerals Inc opened for trading at $4.69 and hit $5.14 on the upside on Thursday, eventually ending the session at $5.07, with a gain of 2.01% or 0.1 points. The heightened volatility saw the trading volume jump to 4,72,806 shares. Company has a market cap of $1,193 M.

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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