Hudbay Minerals (TSE:HBM) Stock Passes Above 200 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 passed 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.

Analyst Ratings Changes

Several analysts have weighed in on the company. TD Securities lifted their price objective on Hudbay Minerals from C$13.00 to C$15.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Raymond James Financial raised Hudbay Minerals to a "moderate buy" rating in a research note on Monday, June 30th. Desjardins boosted their target price on shares of Hudbay Minerals from C$16.00 to C$17.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Scotiabank lifted 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, Royal Bank Of Canada upped their price objective on shares of Hudbay Minerals from C$16.00 to C$17.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Eight equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$16.17.

Hudbay Minerals Price Performance

The firm has a 50-day moving average of C$13.56 and a 200 day moving average of C$11.93. The company has a market capitalization of C$3.58 billion, a PE ratio of 36.30, a PEG ratio of 3.97 and a beta of 1.83. The company has a debt-to-equity ratio of 46.39, a current ratio of 1.86 and a quick ratio of 0.85.

Insider Buying and Selling

In other Hudbay Minerals news, Senior Officer Mark Zachary Gupta sold 2,874 shares of the business's stock in a transaction dated Friday, June 6th. The stock was 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 stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of C$13.21, for a total transaction of C$396,204.00. Insiders sold 34,074 shares of company stock valued at $447,953 over the last quarter. Company insiders own 0.07% of the company's stock.

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.