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

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM's stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$11.59 and traded as high as C$13.33. Hudbay Minerals shares last traded at C$13.30, with a volume of 903,872 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Desjardins boosted their price objective on Hudbay Minerals from C$16.00 to C$17.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada lifted their target price on Hudbay Minerals from C$16.00 to C$17.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. National Bankshares set a C$14.50 target price on Hudbay Minerals and gave the company an "outperform" rating in a research note on Tuesday. TD Securities lifted their target price on Hudbay Minerals from C$13.00 to C$15.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, BMO Capital Markets raised Hudbay Minerals to a "strong-buy" rating in a research note on Tuesday, April 15th. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of C$16.05.

Hudbay Minerals Stock Up 0.5%

The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.85 and a current ratio of 1.86. The stock has a 50 day moving average price of C$11.79 and a 200 day moving average price of C$11.60. The company has a market cap of C$3.73 billion, a P/E ratio of 37.90, a P/E/G ratio of 3.97 and a beta of 1.83.

Insider Transactions at Hudbay Minerals

In other news, Director Gregory Paul Dryden sold 30,000 shares of the business's stock in a transaction 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. Also, Senior Officer Mark Zachary Gupta sold 2,874 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of C$13.25, for a total value of C$38,080.50. Insiders have sold 34,074 shares of company stock valued at $447,953 over the last three months. 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.