Hudbay Minerals (TSE:HBM) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$27.99 and traded as high as C$35.13. Hudbay Minerals shares last traded at C$34.19, with a volume of 1,766,003 shares.

Analysts Set New Price Targets

Several research analysts have recently commented on HBM shares. National Bank Financial lowered Hudbay Minerals from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from C$28.00 to C$40.00 in a research report on Thursday, January 29th. Bank of America lifted their target price on Hudbay Minerals from C$37.75 to C$44.50 in a research report on Thursday, February 26th. UBS Group set a C$34.50 price target on shares of Hudbay Minerals and gave the company a “buy” rating in a report on Friday, January 9th. Scotiabank decreased their price target on shares of Hudbay Minerals from C$37.00 to C$35.50 and set an “outperform” rating for the company in a report on Monday, February 23rd. Finally, Raymond James Financial lifted their price target on shares of Hudbay Minerals from C$34.00 to C$36.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$37.90.

Hudbay Minerals Stock Up 3.9%

The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 33.86. The stock has a 50-day simple moving average of C$31.99 and a 200-day simple moving average of C$28.13. The company has a market cap of C$14.10 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 3.97 and a beta of 2.28.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings results on Friday, February 20th. The mining company reported C$0.30 earnings per share (EPS) for the quarter. Hudbay Minerals had a return on equity of 19.30% and a net margin of 25.80%.The company had revenue of C$1.50 billion during the quarter. As a group, analysts predict that Hudbay Minerals Inc. will post 1.1220575 EPS for the current year.

Hudbay Minerals Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 27th were given a dividend of $0.01 per share. This represents a yield of 3.0%. The ex-dividend date was Tuesday, March 10th. Hudbay Minerals’s payout ratio is 0.99%.

Insider Buying and Selling at Hudbay Minerals

In related news, insider Eugene Chi-Yen Lei purchased 1,000 shares of Hudbay Minerals stock in a transaction dated Friday, March 27th. The stock was bought at an average cost of C$26.85 per share, with a total value of C$26,850.00. Following the purchase, the insider owned 195,847 shares in the company, valued at approximately C$5,258,491.95. The trade was a 0.51% increase in their position. Corporate insiders own 0.07% of the company’s stock.

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.