Hudbay Minerals (TSE:HBM) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$31.12 and traded as high as C$42.20. Hudbay Minerals shares last traded at C$41.91, with a volume of 1,551,916 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. ATB Cormark Capital Markets boosted their price objective on shares of Hudbay Minerals from C$26.00 to C$37.50 and gave the stock an “outperform” rating in a report on Monday, February 23rd. Barclays set a C$41.00 price objective on shares of Hudbay Minerals and gave the stock an “overweight” rating in a report on Friday, May 22nd. Stifel Nicolaus boosted their price objective on shares of Hudbay Minerals from C$28.00 to C$41.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Desjardins set a C$40.00 price objective on shares of Hudbay Minerals and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, Bank of America boosted their price objective on shares of Hudbay Minerals from C$37.75 to C$44.50 in a report on Thursday, February 26th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$39.22.

Hudbay Minerals Stock Performance

The company has a debt-to-equity ratio of 30.14, a quick ratio of 0.85 and a current ratio of 1.36. The firm’s 50-day moving average price is C$33.88 and its two-hundred day moving average price is C$31.12. The firm has a market capitalization of C$16.65 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 3.97 and a beta of 2.34.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last issued its earnings results on Friday, May 1st. The mining company reported C$0.56 earnings per share for the quarter. Hudbay Minerals had a net margin of 27.86% and a return on equity of 20.70%. The business had revenue of C$1.05 billion for the quarter. Sell-side analysts predict that Hudbay Minerals Inc. will post 1.1220575 earnings per share for the current year.

Hudbay Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 26th will be given a $0.01 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. Hudbay Minerals’s payout ratio is 0.87%.

Insider Buying and Selling

In other news, insider Eugene Chi-Yen Lei purchased 1,000 shares of Hudbay Minerals stock in a transaction on Friday, March 27th. The shares were purchased at an average cost of C$26.85 per share, for a total transaction of C$26,850.00. Following the completion of the transaction, the insider directly owned 195,847 shares in the company, valued at approximately C$5,258,491.95. This represents a 0.51% increase in their ownership of the stock. 0.07% of the stock is currently owned by company insiders.

About Hudbay Minerals

Hudbay (TSX, NYSE: HBM) is a copper-focused critical minerals mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. Hudbay’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the Company, which is complemented by meaningful gold production and by-product zinc, silver and molybdenum.