The stock price of that firm,
The takeover agreement, announced early Monday, boosts Hudbay's original offer to Augusta of the equivalent of
This time, however, they'll also get .17 percent of a warrant to acquire another common Hudbay share for each Augusta share owned.
The companies value this offer at about
"We strongly believe in the merits of this transaction and its benefits to both companies' shareholders. We look forward to working with the board and management of Augusta to bring this transaction to a conclusion and to advancing the
The proposed Rosemont open-pit copper mine would be built in the
A ratings team for a web-based financial news service, The-Street.com, gave Hudbay a D or "sell" rating on Monday based on what the service termed its poor overall financial performance.
"This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover," the website quoted
But Charles, of
"If you measured them as to where they are now, with what copper price was, from that perspective, looking backwards you can have whatever opinion you want," Charles said in a telephone interview. "If you look forward, you would probably come to a different conclusion."
TheStreet.com said Hudbay has reported declining earnings per share over the past two years, and its net income has significantly underperformed that of the S&P 500 and the entire metals-mining industry. Its net income and return on equity have declined sharply in the past year, and its returns on equity and profit margins have also performed more poorly than those of the broader mining industry, the website said.
Hudbay declined to comment on
Overall, the social sentiment on Hudbay is 81 percent bearish, based on 946 tweets, the separate MarketWatch Web rating service said Monday. Augusta, by contrast, had a 70 percent bullish social sentiment, based on 1,000 tweets,
The Analyst Ratings Network, another Web service, said that a consensus rating for HudBay stock was "hold," based on seven analysts' "hold" ratings and five others' "buy" ratings since
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