Active Momentum Stocks in New Buzz: The Goldman Sachs Group (NYSE:GS), HudBay Minerals (NYSE:HBM)

The Goldman Sachs Group, Inc. (NYSE:GS) [Trend Analysis] knocking active thrust in leading trading session, shares a gain of 3.35% to 226.63 with about 7.6 Million shares have changed hands in this session. Singapore’s monetary authority reported on Friday that its intention to issue a prohibition order against a former Goldman Sachs director who was responsible for managing the investment bank’s relationship with the controversial Malaysian sovereign wealth fund 1MDB.

The Monetary Authority of Singapore stated it intended to issue a prohibition order against former Goldman director Tim Leissner for allegedly making false statements on behalf of the investment bank without its knowledge of consent. The order would prohibit Leissner from taking part in the management of any capital market services in Singapore for 10 years.

MAS stated Leissner issued an authorized reference letter to a financial institution based in Luxembourg in June 2015, using a Goldman Sachs Asia letterhead, which stated the investment bank conducted due diligence on Low Taek Jho and his family and did not detect any money laundering concerns. The stock is going forward its fifty-two week low with 65.52% and lagging behind from its 52-week high price with 2.65%.

Same, the positive performance for the quarter recorded as 34.91% and for the year was 20.97%, while the YTD performance remained at 27.70%. GS has Average True Range for 14 days of 4.44.

HudBay Minerals, Inc. (NYSE:HBM) [Trend Analysis] retains strong position in active trade, as shares scoring remains unchanged to $6.75 in a active trade session, while looking at the shares volume, about 358562 shares have changed hands in this session. HudBay Minerals Inc. (NYSE:HBM) reported that it has priced its before reported offering of US$1.0 billion aggregate principal amount of senior notes, which will be issued in two series: (i) a series of 7.250% senior notes due 2023 in an aggregate principal amount of US$400 million and (ii) a series of 7.625% senior notes due 2025 in an aggregate principal amount of US$600 million. The New Notes will be issued at 100% of their principal amount, providing the firm with gross proceeds of US$1.0 billion. The offering is predictable to close on December 12, 2016, subject to customary closing conditions.

Hudbay plans to use the net proceeds from the offering (i) to fund the firm’s before reported offer to purchase for cash any and all of its outstanding US$920 million aggregate principal amount of 9.500% senior notes due 2020, (ii) to fund the redemption or satisfaction and discharge of any Existing Notes that remain outstanding following consummation of the Tender Offer and (iii) for general corporate purposes. HBM attains analyst recommendation of 2.20 with week’s performance of -1.46%. Investors looking additional ahead will note that the Price to next year’s EPS is 200.00%.

 

About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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