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Hudbay Minerals (HBM): Moving Average Crossover Alert
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Hudbay Minerals Inc. (HBM - Free Report) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for HBM broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.
This has already started to take place, as the stock has moved lower by 7.1% in the past four weeks. And with the recent moving average crossover, investors have to think that more unfavorable trading is ahead for HBM stock.
If that wasn’t enough, Hudbay Minerals isn’t looking too great from an earnings estimate revision perspective either. It appears as though many analysts have been reducing their earnings expectations for the stock lately, which is usually not a good sign of things to come.
Consider that in the last 30 days, 2 estimates have been reduced, while one has moved higher. Add this in to a similar move lower in the consensus estimate, and there is plenty of reason to be bearish here.
That is why we currently have a Zacks Rank #4 (Sell) on this stock and are looking for it to underperform in the weeks ahead. So either avoid this stock or consider jumping ship until the estimates and technical factors turn around for HBM. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Breaking News: Cryptocurrencies Now Bigger than Visa
The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.
Zacks’ has just named 4 companies that enable investors to take advantage of the explosive growth of cryptocurrencies via the stock market.
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Hudbay Minerals (HBM): Moving Average Crossover Alert
Hudbay Minerals Inc. (HBM - Free Report) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for HBM broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.
This has already started to take place, as the stock has moved lower by 7.1% in the past four weeks. And with the recent moving average crossover, investors have to think that more unfavorable trading is ahead for HBM stock.
If that wasn’t enough, Hudbay Minerals isn’t looking too great from an earnings estimate revision perspective either. It appears as though many analysts have been reducing their earnings expectations for the stock lately, which is usually not a good sign of things to come.
Consider that in the last 30 days, 2 estimates have been reduced, while one has moved higher. Add this in to a similar move lower in the consensus estimate, and there is plenty of reason to be bearish here.
That is why we currently have a Zacks Rank #4 (Sell) on this stock and are looking for it to underperform in the weeks ahead. So either avoid this stock or consider jumping ship until the estimates and technical factors turn around for HBM. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Breaking News: Cryptocurrencies Now Bigger than Visa
The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.
Zacks’ has just named 4 companies that enable investors to take advantage of the explosive growth of cryptocurrencies via the stock market.
Click here to access these stocks. >>