Stock Mover of The Day: Could HudBay Minerals Inc Change Direction After Reaching 52-Week High?

Stock Mover of The Day: Could HudBay Minerals Inc Change Direction After Reaching 52 Week High?

The stock of HudBay Minerals Inc (NYSE:HBM) hit a new 52-week high and has $7.11 target or 3.00% above today’s $6.90 share price. The 6 months bullish chart indicates low risk for the $1.65 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $7.11 price target is reached, the company will be worth $49.50 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 283,509 shares traded hands. HudBay Minerals Inc (NYSE:HBM) has risen 63.17% since April 25, 2016 and is uptrending. It has outperformed by 57.16% the S&P500.

Analysts await HudBay Minerals Inc (NYSE:HBM) to report earnings on February, 22. They expect $0.01 EPS, down 80.00% or $0.04 from last year’s $0.05 per share. HBM’s profit will be $2.39M for 172.50 P/E if the $0.01 EPS becomes a reality. After $0.08 actual EPS reported by HudBay Minerals Inc for the previous quarter, Wall Street now forecasts -87.50% negative EPS growth.

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 31.59% above today’s ($6.9) stock price. Hudbay Minerals Inc has been the topic of 10 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Barclays Capital downgraded the shares of HBM in a report on Thursday, January 14 to “Underweight” rating. The firm has “Hold” rating by Canaccord Genuity given on Thursday, August 6. The stock of HudBay Minerals Inc (NYSE:HBM) has “Market Perform” rating given on Tuesday, August 2 by BMO Capital Markets. The rating was upgraded by BMO Capital Markets to “Outperform” on Thursday, September 29. On Monday, May 16 the stock rating was upgraded by RBC Capital Markets to “Outperform”. The firm has “Outperform” rating by Raymond James given on Thursday, September 3.

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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