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

Key Points

• Hudbay Minerals shares crossed above their 200-day moving average, reaching C$35.97 before closing at C$35.60, compared with a 200-day average of C$34.34.
• Analysts remain broadly positive, with an average rating of “Buy” and an average price target of C$41.28, although several firms recently lowered their targets.
• The company reported C$0.40 in quarterly EPS on C$896.94 million in revenue and declared a quarterly dividend of C$0.01, equivalent to a 0.1% annualized yield.

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$34.34 and traded as high as C$35.97. Hudbay Minerals shares last traded at C$35.60, with a volume of 1,506,852 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Jefferies Financial Group cut their price objective on Hudbay Minerals from C$57.00 to C$50.00 in a research report on Monday, July 6th. BMO Capital Markets decreased their target price on Hudbay Minerals from C$46.00 to C$44.00 and set an "outperform" rating for the company in a research report on Thursday, July 30th. Scotiabank decreased their target price on Hudbay Minerals from C$44.00 to C$43.00 and set a "sector outperform" rating for the company in a research report on Thursday, July 30th. ATB Cormark Capital Markets lowered their target price on Hudbay Minerals from C$35.50 to C$35.00 and set an "outperform" rating on the stock in a research note on Thursday, July 30th. Finally, Canaccord Genuity Group cut 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 report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of C$41.28.

Hudbay Minerals Price Performance

The firm's 50 day moving average price is C$35.46 and its two-hundred day moving average price is C$34.34. The company has a debt-to-equity ratio of 19.04, a current ratio of 2.24 and a quick ratio of 0.85. The stock has a market cap of C$15.81 billion, a PE ratio of 21.87, a P/E/G ratio of 3.97 and a beta of 2.31.

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 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 for the quarter. On average, research analysts expect that Hudbay Minerals Inc. will post 1.1220575 earnings per share for the current year.

Hudbay Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 25th will be given a $0.01 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. Hudbay Minerals's payout ratio is 1.32%.

About Hudbay Minerals

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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