Hudbay Minerals (TSE:HBM) Shares Pass 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 Monday . The stock has a 200-day moving average of C$34.34 and traded as high as C$35.97. Hudbay Minerals shares last traded at C$35.60, with a volume of 1,506,852 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have commented on HBM shares. Canaccord Genuity Group dropped their target price on shares of Hudbay Minerals from C$40.00 to C$39.50 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Scotiabank decreased their target price on Hudbay Minerals from C$44.00 to C$43.00 and set a “sector outperform” rating for the company in a research report on Thursday, July 30th. National Bank Financial lowered their target price 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. Barclays increased their price target on Hudbay Minerals from C$41.00 to C$45.00 in a research report on Thursday, July 16th. Finally, Raymond James Financial raised their price target on Hudbay Minerals from C$41.00 to C$42.00 and gave the company an “outperform” rating in a research note on Friday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Hudbay Minerals has a consensus rating of “Buy” and an average price target of C$41.78.

Hudbay Minerals Stock Performance

The business has a fifty day simple moving average of C$35.55 and a two-hundred day simple moving average of C$34.32. 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 cap of C$15.68 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 3.97 and a beta of 2.31.

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

Hudbay Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 25th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. Hudbay Minerals’s dividend payout ratio (DPR) is presently 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.