Why Augusta Resource (AZC) Stock Is Surging Today

NEW YORK (TheStreet) -- Shares of Augusta Resource Co.  (AZC) are trading higher, up 8.05% to $3.22, on very high volume after HudBay Minerals Inc.  (HBMsweetened its offer to buy all of the outstanding common shares of  that it doesn't already own.

HudBay owns about 16% of Augusta, and the revised offer is worth about $516 million based on 100% of the fully-diluted common shares.

Must Read: Warren Buffett's 25 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Augusta's board determined the revised offer is fair to its shareholders.

Shares of HudBay Minerals are down -3.38% to $9.42. on Monday morning

Separately, TheStreet Ratings team rates HUDBAY MINERALS INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate HUDBAY MINERALS INC (HBM) a SELL. 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 company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and poor profit margins."

If you liked this article you might like

3 Stocks Raising The Metals & Mining Industry Higher

3 Basic Materials Stocks Pushing The Sector Higher

Hudbay Offer For Augusta Likely to be Topped

Why Augusta Resources (AZC) Is Soaring Today