Hudbay Minerals extends offer for Augusta Resource HudBay Minerals announced that it has extended its offer to acquire all of the outstanding common shares of Augusta Resource not already owned by Hudbay for consideration per Augusta Share of 0.315 of a Hudbay common share until 5:00 p.m.,Toronto time, on June 20. Hudbay continues to evaluate the implications of ongoing developments with respect to Augusta's applications for permits required for the Rosemont project, including the U.S. Forest Service's responses to the objections received in respect of the Final Environmental Impact Statement which are expected this week.
On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: Akamai (AKAM) upgraded to Buy from Hold at Craig-Hallum... Banco Bilbao (BBVA) upgraded to Outperform from Underperform at Exane BNP Paribas... Coca-Cola (KO) upgraded to Hold from Sell at Societe Generale... Dean Foods (DF) upgraded to Outperform from Market Perform at Bernstein... Dr. Reddy's (RDY) upgraded to Buy from Underperform at CLSA... Essex Property Trust (ESS) upgraded to Hold from Sell at Zelman... FireEye (FEYE) upgraded on positive outlook at BTIG... Goodyear Tire (GT) upgraded to Outperform from Underperform at CLSA... Hess Corp. (HES) upgraded to Conviction Buy from Neutral at Goldman... Hudbay Minerals (HBM) upgraded to Buy from Hold at Canaccord... PROS (PRO) upgraded to Hold from Sell at Craig-Hallum... Press Ganey (PGND) upgraded to Outperform from Neutral at Baird... Salesforce (CRM) upgraded to Buy from Outperform at CLSA... Seattle Genetics (SGEN) upgraded to Buy from Hold at Cantor... Shire (SHPG) upgraded on valuation at RBC Capital... SolarCity (SCTY) upgraded to Strong Buy on valuation at Raymond James... Spark Energy (SPKE) upgraded to Buy from Neutral at Janney Capital... Textura (TXTR) upgraded to Hold from Sell at Benchmark... TransDigm (TDG) upgraded to Gradually Accumulate from Hold at Wellington Shields... Trimble (TRMB) upgraded to Buy from Hold at Needham... U.S. Bancorp (USB) upgraded to Outperform from Market Perform at Wells Fargo... Zurich Insurance (ZURVY) upgraded to Neutral from Underweight at JPMorgan.
Hudbay Minerals upgraded to Buy from Hold at Canaccord Canaccord upgraded Hudbay Minerals to Buy from Hold based on valuation and the potential for a favorable outcome with its debt renegotiation. Canaccord maintained its C$4.00 price target on Hudbay Minerals shares.