Notable Reporting: Is HudBay Minerals Inc a Buy? The Stock Reaches 52-Week High Today

Notable Reporting: Is HudBay Minerals Inc a Buy? The Stock Reaches 52 Week High Today

The stock of HudBay Minerals Inc (NYSE:HBM) hit a new 52-week high and has $7.83 target or 45.00% above today’s $5.40 share price. The 8 months bullish chart indicates low risk for the $1.26 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $7.83 price target is reached, the company will be worth $567.00 million 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 473,129 shares traded hands or 120.35% up from the average. HudBay Minerals Inc (NYSE:HBM) has risen 78.93% since April 7, 2016 and is uptrending. It has outperformed by 74.15% the S&P500.

HudBay Minerals Inc (NYSE:HBM) Ratings Coverage

Out of 4 analysts covering Hudbay Minerals Inc (NYSE:HBM), 3 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 75% are positive. Hudbay Minerals Inc has been the topic of 10 analyst reports since July 21, 2015 according to StockzIntelligence Inc. BMO Capital Markets upgraded the stock to “Outperform” rating in Thursday, September 29 report. As per Thursday, January 14, the company rating was downgraded by Barclays Capital. The firm earned “Hold” rating on Thursday, August 6 by Canaccord Genuity. The stock of HudBay Minerals Inc (NYSE:HBM) has “Outperform” rating given on Monday, May 16 by RBC Capital Markets. The rating was maintained by Raymond James on Thursday, September 3 with “Outperform”. The stock has “Market Perform” rating given by BMO Capital Markets on Tuesday, August 2.

According to Zacks Investment Research, “HudBay Minerals Inc. is a mining company and engages in discovery, production and marketing of base metals in North and Central America. It owns zinc and copper mines, concentrators and metal production facilities in northern Manitoba and Saskatchewan, zinc oxide production facility in Ontario, copper refinery in Michigan and nickel project in Guatemala. In addition to its primary products, zinc and copper, HudBay also produces gold, silver and zinc oxide. HudBay Minerals Inc. is headquartered in Toronto, Canada.”

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

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