Hudbay Minerals (TSE:HBM) Shares Cross Above 200-Day Moving Average - What's Next?

Key Points

• Hudbay Minerals' stock has crossed above its 200-day moving average, indicating potential bullish momentum, with the current share price at C$13.57.
• Several analysts have raised their price targets for Hudbay Minerals, with a consensus rating of "Buy" and an average target price of C$16.17.
• Insider transactions have occurred recently, with notable sales including a director selling 30,000 shares, reflecting ongoing activity among company insiders.

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM's share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$11.95 and traded as high as C$13.66. Hudbay Minerals shares last traded at C$13.57, with a volume of 1,645,643 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on HBM shares. Scotiabank upped their price target on shares of Hudbay Minerals from C$14.00 to C$15.50 in a research note on Monday, June 16th. BMO Capital Markets raised shares of Hudbay Minerals to a "strong-buy" rating in a research note on Tuesday, April 15th. Desjardins increased 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 research note on Thursday, May 22nd. TD Securities increased their target price on shares of Hudbay Minerals from C$13.00 to C$15.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, National Bankshares increased their target price on shares of Hudbay Minerals from C$14.50 to C$16.50 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Eight analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Hudbay Minerals has a consensus rating of "Buy" and an average target price of C$16.17.

Hudbay Minerals Trading Up 3.2%

The stock's fifty day moving average price is C$13.61 and its 200 day moving average price is C$11.95. 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 stock has a market capitalization of C$3.76 billion, a P/E ratio of 38.21, a PEG ratio of 3.97 and a beta of 1.83.

Insider Transactions at Hudbay Minerals

In other Hudbay Minerals news, Director Gregory Paul Dryden sold 30,000 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of C$13.21, for a total transaction of C$396,204.00. Also, Senior Officer Mark Zachary Gupta sold 2,874 shares of the 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. Over the last 90 days, insiders sold 34,074 shares of company stock worth $447,953. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.