HudBay Minerals Inc. Sets 52-Week High; Strong Momentum for Holders

 HudBay Minerals Inc. Sets 52 Week High; Strong Momentum for Holders

The stock of HudBay Minerals Inc. (TSE:HBM) hit a new 52-week high and has $9.17 target or 6.00% above today’s $8.65 share price. The 5 months bullish chart indicates low risk for the $2.23B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $9.17 price target is reached, the company will be worth $133.80M 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 420,318 shares traded hands. HudBay Minerals Inc. (TSE:HBM) has risen 65.05% since April 19, 2016 and is uptrending. It has outperformed by 59.72% the S&P500.

HudBay Minerals Inc. (TSE:HBM) Ratings Coverage

Out of 7 analysts covering Hudbay Minerals Inc (TSE:HBM), 6 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 86% are positive. $12 is the highest target while $4.25 is the lowest. The $8.70 average target is 0.58% above today’s ($8.65) stock price. Hudbay Minerals Inc has been the topic of 42 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Scotia Capital given on Friday, July 29. The stock of HudBay Minerals Inc. (TSE:HBM) has “Sector Perform” rating given on Friday, April 29 by RBC Capital Markets. The firm has “Sector Perform” rating by RBC Capital Markets given on Thursday, January 14. The rating was upgraded by TD Securities to “Buy” on Thursday, November 3. The company was upgraded on Monday, May 16 by RBC Capital Markets. The firm has “Sector Perform” rating given on Monday, December 14 by RBC Capital Markets. The company was maintained on Tuesday, November 22 by RBC Capital Markets. The firm earned “Outperform” rating on Thursday, November 3 by RBC Capital Markets. RBC Capital Markets maintained the shares of HBM in a report on Tuesday, October 25 with “Outperform” rating. As per Thursday, November 3, the company rating was maintained by Scotia Capital.

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 $2.23 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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