Augusta Resource responds to announcement by Hudbay Minerals Augusta Resource (AZC) states that its board will meet this week to discuss the press release of Hudbay Minerals (HBM) issued on Sunday, February 9, that announces their intention to commence an offer to acquire all of the issued and outstanding common shares of Augusta. The Ccmpany will update its shareholders following that board meeting. In the meantime, shareholders are urged to take no actions in connection with the Hudbay offer.
Hudbay Minerals downgraded at BofA/Merrill As previously reported, BofA/Merrill downgraded Hudbay Minerals to Neutral from Buy. The firm lowered Hudbay Minerals free cash flow estimates and price target to $9.60 from $12 following a reduction in copper and Brent oil price forecasts and said it does not expect a recovery until 2017.