Market Runner: What’s HudBay Minerals Inc Upside After Making 52-Week High?

Market Runner: What's HudBay Minerals Inc Upside After Making 52 Week High?

The stock of HudBay Minerals Inc (NYSE:HBM) hit a new 52-week high and has $6.76 target or 7.00% above today’s $6.32 share price. The 9 months bullish chart indicates low risk for the $1.43 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $6.76 price target is reached, the company will be worth $100.10M 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 121,210 shares traded hands. HudBay Minerals Inc (NYSE:HBM) has risen 39.72% since April 20, 2016 and is uptrending. It has outperformed by 35.17% 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. $13 is the highest target while $4 is the lowest. The $9.08 average target is 43.67% above today’s ($6.32) stock price. Hudbay Minerals Inc has been the topic of 10 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of HudBay Minerals Inc (NYSE:HBM) earned “Outperform” rating by Raymond James on Thursday, September 3. RBC Capital Markets upgraded it to “Outperform” rating and $7.50 target price in Monday, May 16 report. BMO Capital Markets upgraded HudBay Minerals Inc (NYSE:HBM) on Thursday, September 29 to “Outperform” rating. BMO Capital Markets downgraded HudBay Minerals Inc (NYSE:HBM) on Tuesday, August 2 to “Market Perform” rating. The firm has “Underweight” rating by Barclays Capital given on Thursday, January 14. Canaccord Genuity upgraded the shares of HBM in a report on Thursday, August 6 to “Hold” rating.

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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