Hudbay Minerals (TSE:HBM) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Hudbay Minerals shares moved above their 200-day moving average, reaching C$42.29 before closing at C$41.02, compared with a 200-day average of C$33.90.
• Analyst sentiment remains positive overall, with two Strong Buy ratings, ten Buy ratings and one Hold rating; the consensus rating is “Buy,” with a C$40.91 price target.
• The company reported quarterly EPS of C$0.40 on C$896.94 million in revenue and maintains a small quarterly dividend of C$0.01 per share, representing a 0.1% yield.

Shares of Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$33.90 and traded as high as C$42.29. Hudbay Minerals shares last traded at C$41.02, with a volume of 2,505,701 shares traded.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HBM. National Bank Financial dropped their price objective on Hudbay Minerals from C$40.00 to C$38.50 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. Stifel Nicolaus raised their target price on shares of Hudbay Minerals from C$41.00 to C$43.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Jefferies Financial Group lowered their price target on shares of Hudbay Minerals from C$57.00 to C$50.00 in a research report on Monday, July 6th. BMO Capital Markets dropped their price target on shares of Hudbay Minerals from C$46.00 to C$44.00 and set an "outperform" rating for the company in a research note on Thursday, July 30th. Finally, Scotiabank cut their price objective on shares of Hudbay Minerals from C$44.00 to C$43.00 and set a "sector outperform" rating on the stock in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of C$40.91.

Hudbay Minerals Stock Performance

The stock has a market cap of C$18.22 billion, a P/E ratio of 25.20, a PEG ratio of 3.97 and a beta of 2.31. The stock has a fifty day simple moving average of C$34.39 and a 200-day simple moving average of C$33.90. 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 EPS for the quarter. The company had revenue of C$896.94 million during the quarter. Hudbay Minerals had a return on equity of 18.41% and a net margin of 27.22%. Equities analysts expect that Hudbay Minerals Inc. will post 1.1220575 earnings per share for the current fiscal year.

Hudbay Minerals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 26th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Tuesday, June 9th. Hudbay Minerals's dividend 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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