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

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) shares 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 changing hands.

Analyst Ratings Changes

HBM has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of Hudbay Minerals from C$23.00 to C$32.50 and gave the company a “buy” rating in a report on Wednesday, February 11th. Stifel Nicolaus raised their price objective on Hudbay Minerals from C$28.00 to C$41.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Canaccord Genuity Group decreased their price objective on Hudbay Minerals from C$41.00 to C$40.00 in a report on Monday, May 4th. ATB Cormark Capital Markets raised their price objective on Hudbay Minerals from C$26.00 to C$37.50 and gave the company an “outperform” rating in a report on Monday, February 23rd. Finally, Canadian Imperial Bank of Commerce raised their price objective on Hudbay Minerals from C$42.00 to C$46.00 in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Hudbay Minerals currently has an average rating of “Buy” and a consensus price target of C$39.22.

Hudbay Minerals Stock Down 14.8%

The firm has a market capitalization of C$14.19 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 3.97 and a beta of 2.24. The business has a 50 day simple moving average of C$34.04 and a 200-day simple moving average of C$31.16. The company has a debt-to-equity ratio of 30.14, a quick ratio of 0.85 and a current ratio of 1.36.

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 (EPS) for the quarter. The business had revenue of C$1.05 billion during the quarter. Hudbay Minerals had a return on equity of 20.70% and a net margin of 27.86%. On average, equities analysts expect that Hudbay Minerals Inc. will post 1.1220575 EPS for the current year.

Hudbay Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 26th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, June 9th. Hudbay Minerals’s dividend payout ratio (DPR) is presently 0.87%.

Insider Activity

In other Hudbay Minerals news, insider Eugene Chi-Yen Lei acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 27th. The stock was purchased at an average cost of C$26.85 per share, with a total value of C$26,850.00. Following the transaction, the insider owned 195,847 shares of the company’s stock, valued at C$5,258,491.95. This trade represents a 0.51% increase in their ownership of the stock. Insiders own 0.07% of the company’s stock.

Hudbay Minerals Company Profile

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.