Credit Suisse Downgrades HudBay Minerals Inc to Neutral

Brokerage firm Credit Suisse Downgrades its rating on HudBay Minerals Inc(NYSE:HBM). The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Credit Suisse was issued on Jul 28, 2016.

HudBay Minerals Inc (HBM) shares turned negative on Thursdays trading session with the shares closing down -0.04 points or -0.86% at a volume of 3,13,257. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $4.645. The peak price level was also seen at $4.645 while the days lowest was $4.49. Finally the shares closed at $4.6. The 52-week high of the shares is $6.5 while the 52-week low is $1.56. According to the latest information available, the market cap of the company is $1,087 M.

HudBay Minerals Inc(HBM) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $246.97M. Analysts had an estimated revenue of $249.22M. Earnings per share were $-0.02. Analysts had estimated an EPS of $0.05.

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.

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