Hudbay Minerals (TSE:HBM) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$11.92 and traded as high as C$12.69. Hudbay Minerals shares last traded at C$12.51, with a volume of 1,407,587 shares trading hands.

Analyst Upgrades and Downgrades

HBM has been the topic of a number of recent analyst reports. BMO Capital Markets upgraded shares of Hudbay Minerals to a “strong-buy” rating in a research note on Tuesday, April 15th. Scotiabank upped their price target on shares of Hudbay Minerals from C$14.00 to C$15.50 in a research note on Monday, June 16th. Royal Bank Of Canada increased their price objective on shares of Hudbay Minerals from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Raymond James Financial upgraded shares of Hudbay Minerals to a “moderate buy” rating in a research note on Monday, June 30th. Finally, TD Securities increased their price objective on shares of Hudbay Minerals from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research note on Tuesday, June 24th. Eight analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Hudbay Minerals currently has an average rating of “Buy” and a consensus target price of C$16.17.

Hudbay Minerals Trading Down 2.7%

The company has a market cap of C$3.47 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 3.97 and a beta of 1.83. The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39. The company’s 50-day moving average is C$13.55 and its 200 day moving average is C$11.92.

Insider Buying and Selling at Hudbay Minerals

In related news, Director Gregory Paul Dryden sold 30,000 shares of the firm’s stock in a transaction 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. Also, Senior Officer Mark Zachary Gupta sold 2,874 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of C$13.25, for a total transaction of C$38,080.50. In the last 90 days, insiders have sold 34,074 shares of company stock worth $447,953. 0.07% of the stock is owned by company 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.