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

Key Points

• Hudbay Minerals Inc. shares have crossed above their 200-day moving average at C$12.26, currently trading near C$16.48 with a market capitalization of C$6.52 billion.
• Several brokerages have issued positive ratings for the stock, with target prices raised by Desjardins, Royal Bank Of Canada, and Stifel Nicolaus, indicating strong market confidence.
• The company has declared a dividend of C$0.01 per share, yielding 6.0%, which will be paid to shareholders on September 19th.

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$12.26 and traded as high as C$16.50. Hudbay Minerals shares last traded at C$16.48, with a volume of 1,127,985 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently commented on HBM shares. Bank of America raised their target price on Hudbay Minerals from C$16.00 to C$18.00 in a research report on Friday, August 29th. Desjardins lifted their price objective on Hudbay Minerals from C$16.00 to C$17.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. TD Securities raised their target price on 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. Raymond James Financial increased their price objective on shares of Hudbay Minerals from C$17.00 to C$18.50 in a report on Thursday, August 21st. Finally, National Bankshares upped their price objective on Hudbay Minerals from C$16.50 to C$17.50 and gave the company an "outperform" rating in a report on Thursday, August 14th. Three equities research analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of C$16.95.

Hudbay Minerals Stock Up 3.3%

The stock's fifty day simple moving average is C$14.48 and its 200-day simple moving average is C$12.33. The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 46.39. The stock has a market capitalization of C$6.79 billion, a PE ratio of 23.52, a P/E/G ratio of 3.97 and a beta of 1.74.

Hudbay Minerals Dividend Announcement

The firm also recently declared a half year 25 dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 19th will be given a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a dividend yield of 6.0%. Hudbay Minerals's payout ratio is 1.96%.

Insider Transactions at Hudbay Minerals

In other Hudbay Minerals news, Senior Officer Mark Zachary Gupta sold 2,874 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of C$13.25, for a total value 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 shares were sold at an average price of C$13.21, for a total transaction of C$396,204.00. 0.07% of the stock is owned by corporate insiders.

About Hudbay Minerals

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.