HudBay Minerals Inc. Just Recorded A Sigfniciant Gap Up

 HudBay Minerals Inc. Just Recorded A Sigfniciant Gap Up

The stock of HudBay Minerals Inc. (TSE:HBM) gapped up by $0.13 today and has $10.26 target or 8.00% above today’s $9.50 share price. The 6 months technical chart setup indicates low risk for the $2.36 billion company. The gap was reported on Nov, 24 by Barchart.com. If the $10.26 price target is reached, the company will be worth $188.80M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 994,194 shares traded hands. HudBay Minerals Inc. (TSE:HBM) has risen 69.34% since April 20, 2016 and is uptrending. It has outperformed by 63.93% 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. Hudbay Minerals Inc has been the topic of 42 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by TD Securities given on Thursday, November 3. The firm earned “Outperform” rating on Friday, July 29 by Scotia Capital. The rating was maintained by RBC Capital Markets with “Sector Perform” on Friday, April 29. The firm has “Outperform” rating by RBC Capital Markets given on Tuesday, October 25. RBC Capital Markets upgraded the stock to “Outperform” rating in Monday, May 16 report. The firm earned “Outperform” rating on Tuesday, November 22 by RBC Capital Markets. The rating was maintained by RBC Capital Markets with “Sector Perform” on Monday, December 14. The rating was maintained by Scotia Capital on Thursday, November 3 with “Outperform”. The rating was maintained by RBC Capital Markets with “Sector Perform” on Thursday, January 14. As per Thursday, November 3, the company rating was maintained by RBC Capital Markets.

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 $2.36 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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