Hudbay Minerals (TSE:HBM) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Price action: Hudbay's shares crossed above its 200‑day moving average (C$26.80) on Friday, trading as high as C$27.28 and last at C$27.01 on volume of 2,742,221 shares.
• Analyst sentiment: Several brokers have raised targets recently (Jefferies to C$37, Desjardins C$40, Canaccord C$41), leaving an overall "Buy" consensus and an average price target of C$37.90.
• Financials and payout: The company has a C$10.72B market cap, reported C$0.30 EPS last quarter with a 25.8% net margin, and recently paid a dividend yielding 3.0% (payout ratio 0.99%).

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$26.80 and traded as high as C$27.28. Hudbay Minerals shares last traded at C$27.01, with a volume of 2,742,221 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HBM shares. Jefferies Financial Group upped their price objective on shares of Hudbay Minerals from C$31.00 to C$37.00 in a research report on Monday, January 19th. Desjardins set a C$40.00 target price on shares of Hudbay Minerals and gave the company a "buy" rating in a research report on Thursday, March 5th. Canaccord Genuity Group boosted their target price on shares of Hudbay Minerals from C$39.00 to C$41.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. Raymond James Financial upped their price target on shares of Hudbay Minerals from C$34.00 to C$36.00 and gave the stock an "outperform" rating in a report on Monday, January 26th. Finally, Citigroup increased their price target on Hudbay Minerals from C$23.00 to C$32.50 and gave the company a "buy" rating in a research note on Wednesday, February 11th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Hudbay Minerals has an average rating of "Buy" and an average price target of C$37.90.

Hudbay Minerals Price Performance

The company has a 50 day moving average price of C$32.68 and a 200-day moving average price of C$26.80. The company has a market cap of C$10.72 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 3.97 and a beta of 1.98. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 33.86.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last posted its earnings results on Friday, February 20th. The mining company reported C$0.30 EPS for the quarter. Hudbay Minerals had a net margin of 25.80% and a return on equity of 19.30%. The business had revenue of C$1.50 billion for the quarter. As a group, equities research analysts predict that Hudbay Minerals Inc. will post 1.1220575 EPS for the current fiscal year.

Hudbay Minerals Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 27th were issued a dividend of $0.01 per share. This represents a dividend yield of 3.0%. The ex-dividend date was Tuesday, March 10th. Hudbay Minerals's payout ratio is 0.99%.

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.

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