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

Key Points

• Hudbay Minerals shares moved above their 200-day moving average, reaching C$38.77 before closing at C$38.35, compared with a 200-day average of C$34.60.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of C$41.78. Recent targets range from C$35.00 to C$48.00.
• The company reported quarterly EPS of C$0.40 on C$896.94 million in revenue and recently paid a quarterly dividend of C$0.01, equivalent to a 0.1% annualized yield.

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM's stock price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$34.60 and traded as high as C$38.77. Hudbay Minerals shares last traded at C$38.35, with a volume of 1,103,890 shares traded.

Analyst Ratings Changes

HBM has been the subject of several research reports. ATB Cormark Capital Markets reduced their target price on shares of Hudbay Minerals from C$35.50 to C$35.00 and set an "outperform" rating for the company in a research note on Thursday, July 30th. Royal Bank Of Canada raised their target price on Hudbay Minerals from C$40.00 to C$48.00 in a research note on Wednesday, September 16th. Canaccord Genuity Group reduced their price target on shares of Hudbay Minerals from C$40.00 to C$39.50 and set a "buy" rating on the stock in a research report on Thursday, July 30th. National Bank Financial decreased their price objective on shares of Hudbay Minerals from C$40.00 to C$38.50 and set a "sector perform" rating on the stock in a report on Tuesday, July 14th. Finally, Stifel Nicolaus boosted their target price on shares of Hudbay Minerals from C$41.00 to C$43.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of C$41.78.

Hudbay Minerals Stock Performance

The stock's fifty day moving average is C$37.02 and its 200-day moving average is C$34.60. The stock has a market cap of C$17.03 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 3.97 and a beta of 2.31. The company has a quick ratio of 0.85, a current ratio of 2.24 and a debt-to-equity ratio of 19.04.

Hudbay Minerals (TSE:HBM - Get Free Report) NYSE: HBM last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported C$0.40 earnings per share (EPS) for the quarter. Hudbay Minerals had a net margin of 27.22% and a return on equity of 18.41%. The company had revenue of C$896.94 million during the quarter. On average, analysts forecast that Hudbay Minerals Inc. will post 1.1220575 EPS for the current year.

Hudbay Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 25th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, September 8th. Hudbay Minerals's payout ratio is presently 1.32%.

Hudbay Minerals Company Profile

Hudbay TSX, NYSE: HBM is a copper-focused critical minerals mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining jurisdictions of Canada, Peru and the United States. Hudbay's operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the Company, which is complemented by meaningful gold production and by-product zinc, silver and molybdenum.

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