Hudbay Minerals (TSE:HBM) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Hudbay Minerals' share price crossed above its 200-day moving average, reaching a high of C$12.69 before closing at C$12.51.
• Analysts have raised their price targets for Hudbay Minerals, with TD Securities recommending a target of C$15.00 and National Bankshares setting a target of C$16.50.
• Insider selling activity has been noted, with insiders selling 34,074 shares valued at C$447,953 in the last three months.

Shares of Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$11.92 and traded as high as C$12.69. Hudbay Minerals shares last traded at C$12.51, with a volume of 1,407,587 shares traded.

Analyst Ratings Changes

A number of analysts have commented on HBM shares. Veritas upgraded shares of Hudbay Minerals to a "strong-buy" rating in a research report on Monday, July 7th. TD Securities boosted their price target on shares of Hudbay Minerals from C$13.00 to C$15.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Desjardins boosted their price target on shares of Hudbay Minerals from C$16.00 to C$17.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Scotiabank boosted their price target on shares of Hudbay Minerals from C$14.00 to C$15.50 in a research report on Monday, June 16th. Finally, National Bankshares boosted their target price on shares of Hudbay Minerals from C$14.50 to C$16.50 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Eight investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$16.17.

Hudbay Minerals Price Performance

The stock's fifty day moving average price is C$13.59 and its 200-day moving average price is C$11.94. The company has a debt-to-equity ratio of 46.39, a current ratio of 1.86 and a quick ratio of 0.85. The firm has a market cap of C$3.68 billion, a price-to-earnings ratio of 37.31, a price-to-earnings-growth ratio of 3.97 and a beta of 1.83.

Insider Buying and Selling

In related news, Senior Officer Mark Zachary Gupta sold 2,874 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of C$13.25, for a total transaction of C$38,080.50. Also, Director Gregory Paul Dryden sold 30,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of C$13.21, for a total transaction of C$396,204.00. Insiders have sold 34,074 shares of company stock worth $447,953 in the last 90 days. 0.07% of the stock is owned by company insiders.

Hudbay Minerals Company Profile

Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals.