As this happened, Jefferies upgraded its Hudbay Minerals Inc. [HBM] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in early May with a ‘”a Hold”‘ rating. BofA Securities also remained covering HBM and has increased its forecast on April 09, 2024 with a “Buy” recommendation from previously “Neutral” rating.
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Price Performance Review of HBM
On Tuesday, Hudbay Minerals Inc. [NYSE:HBM] saw its stock jump 9.16% to $8.82. Over the last five days, the stock has gained 16.82%. Hudbay Minerals Inc. shares have risen nearly 59.78% since the year began. Nevertheless, the stocks have risen 88.06% over the past one year. While a 52-week high of $10.49 was reached on 05/21/24, a 52-week low of $3.94 was recorded on 02/13/24. SMA at 50 days reached $7.72, while 200 days put it at $7.33.
Levels Of Support And Resistance For HBM Stock
The 24-hour chart illustrates a support level at 8.61, which if violated will result in even more drops to 8.39. On the upside, there is a resistance level at 8.95. A further resistance level may holdings at 9.08. The Relative Strength Index (RSI) on the 14-day chart is 69.97, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.79, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 2.29%. Stochastics %K at 91.99% indicates the stock is a selling.
How much short interest is there in Hudbay Minerals Inc.?
A steep rise in short interest was recorded in Hudbay Minerals Inc. stocks on 2024-08-30, dropping by 56049.0 shares to a total of 5.6 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 5.65 million shares. There was a decline of -1.0%, which implies that there is a negative sentiment for the stock.
