Hudbay Minerals (TSE:HBM) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$33.74 and traded as high as C$37.88. Hudbay Minerals shares last traded at C$36.99, with a volume of 953,936 shares changing hands.

Analyst Ratings Changes

HBM has been the topic of several recent research reports. Barclays increased their target price on shares of Hudbay Minerals from C$41.00 to C$45.00 in a report on Thursday, July 16th. Jefferies Financial Group cut 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 reduced their price objective on Hudbay Minerals from C$46.00 to C$44.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Stifel Nicolaus lifted their price objective on Hudbay Minerals from C$41.00 to C$43.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, Canadian Imperial Bank of Commerce lifted their price objective on Hudbay Minerals from C$42.00 to C$46.00 in a report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Hudbay Minerals has a consensus rating of “Buy” and an average target price of C$40.91.

Hudbay Minerals Stock Up 0.4%

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 company has a market capitalization of C$16.43 billion, a P/E ratio of 22.72, a PEG ratio of 3.97 and a beta of 2.31. The company has a 50 day moving average of C$34.17 and a 200-day moving average of C$33.74.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported C$0.40 earnings per share (EPS) for the quarter. The company had revenue of C$896.94 million for the quarter. Hudbay Minerals had a return on equity of 18.41% and a net margin of 27.22%. As a group, equities analysts anticipate that Hudbay Minerals Inc. will post 1.1220575 EPS for the current year.

Hudbay Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 26th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Tuesday, June 9th. Hudbay Minerals’s dividend payout ratio (DPR) is currently 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.