Hudbay Minerals (TSE:HBM) Share Price Crosses Above 200-Day Moving Average of $9.58

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$9.58 and traded as high as C$12.66. Hudbay Minerals shares last traded at C$12.32, with a volume of 813,152 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on HBM. Scotiabank raised their price target on Hudbay Minerals from C$15.00 to C$17.00 in a research report on Thursday, May 30th. National Bankshares increased their price target on shares of Hudbay Minerals from C$15.50 to C$16.50 and gave the stock an “outperform” rating in a research report on Monday, June 10th. Haywood Securities lifted their price objective on shares of Hudbay Minerals from C$13.00 to C$16.00 in a report on Thursday, May 16th. CIBC increased their target price on shares of Hudbay Minerals from C$14.50 to C$15.50 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Finally, National Bank Financial upgraded shares of Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Hudbay Minerals currently has a consensus rating of “Moderate Buy” and an average target price of C$14.42.

Hudbay Minerals Stock Performance

The stock has a 50 day simple moving average of C$12.34 and a two-hundred day simple moving average of C$9.58. The company has a market cap of C$4.85 billion, a PE ratio of 37.33, a PEG ratio of 3.97 and a beta of 1.96. The company has a debt-to-equity ratio of 62.72, a current ratio of 1.40 and a quick ratio of 0.85.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its quarterly earnings data on Tuesday, May 14th. The mining company reported C$0.22 EPS for the quarter, beating the consensus estimate of C$0.04 by C$0.18. The firm had revenue of C$707.76 million during the quarter, compared to the consensus estimate of C$635.57 million. Hudbay Minerals had a return on equity of 4.36% and a net margin of 4.34%. Equities analysts predict that Hudbay Minerals Inc. will post 0.7249725 EPS for the current year.

Insiders Place Their Bets

In other Hudbay Minerals news, Director Gregory Paul Dryden sold 26,625 shares of Hudbay Minerals stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of C$10.23, for a total value of C$272,496.23. In related news, Director Gregory Paul Dryden sold 26,625 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of C$10.23, for a total value of C$272,496.23. Also, Senior Officer Peter Adamek sold 5,874 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of C$13.00, for a total value of C$76,362.00. 0.08% of the stock is owned by insiders.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.