Could HudBay Minerals Inc. Change Direction After Reaching 52-Week High?

 Could HudBay Minerals Inc. Change Direction After Reaching 52 Week High?

The stock of HudBay Minerals Inc. (TSE:HBM) hit a new 52-week high and has $8.78 target or 20.00% above today’s $7.32 share price. The 6 months bullish chart indicates low risk for the $1.88 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $8.78 price target is reached, the company will be worth $376.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 3.60M shares traded hands or 70.62% up from the average. HudBay Minerals Inc. (TSE:HBM) has risen 63.22% since April 5, 2016 and is uptrending. It has outperformed by 58.44% the S&P500.

HudBay Minerals Inc. (TSE:HBM) Ratings Coverage

Out of 8 analysts covering Hudbay Minerals Inc (TSE:HBM), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. $12 is the highest target while $4.25 is the lowest. The $8.20 average target is 12.02% above today’s ($7.32) stock price. Hudbay Minerals Inc has been the topic of 36 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock of HudBay Minerals Inc. (TSE:HBM) earned “Outperform” rating by RBC Capital Markets on Tuesday, October 25. On Monday, December 14 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. The stock of HudBay Minerals Inc. (TSE:HBM) earned “Outperform” rating by RBC Capital Markets on Thursday, November 3. RBC Capital Markets maintained HudBay Minerals Inc. (TSE:HBM) on Friday, April 29 with “Sector Perform” rating. The firm earned “Buy” rating on Thursday, November 3 by TD Securities. Scotia Capital maintained the shares of HBM in a report on Thursday, November 3 with “Outperform” rating. Scotia Capital maintained the shares of HBM in a report on Friday, July 29 with “Outperform” rating. RBC Capital Markets upgraded the shares of HBM in a report on Monday, May 16 to “Outperform” rating. On Thursday, January 14 the stock rating was maintained by RBC Capital Markets with “Sector Perform”.

Another recent and important HudBay Minerals Inc. (TSE:HBM) news was published by Business.Financialpost.com which published an article titled: “HudBay Minerals Inc upgraded at RBC” on May 16, 2016.

HudBay Minerals Inc. is a Canada-based mining company. The company has a market cap of $1.88 billion. The Firm is engaged in the production of copper concentrate, consisting of copper, gold and silver, as well as zinc metal. It currently has negative earnings. The Firm is focused on the discovery, production and marketing of base and precious metals.

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