Hudbay Minerals (TSE:HBM) Share Price Passes Above Two Hundred Day Moving Average of $6.71

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$6.71 and traded as high as C$6.72. Hudbay Minerals shares last traded at C$6.70, with a volume of 894,706 shares traded.

Wall Street Analyst Weigh In

HBM has been the subject of several recent research reports. Raymond James reduced their target price on shares of Hudbay Minerals from C$10.00 to C$9.50 in a research note on Friday, June 2nd. Barclays upgraded shares of Hudbay Minerals from an “equal weight” rating to an “outperform” rating in a research note on Friday, July 7th. Scotiabank cut their price objective on shares of Hudbay Minerals from C$11.00 to C$10.50 in a research report on Wednesday, June 28th. BMO Capital Markets cut their price objective on shares of Hudbay Minerals from C$10.50 to C$10.00 in a research report on Monday, July 17th. Finally, Canaccord Genuity Group cut their price objective on shares of Hudbay Minerals from C$11.25 to C$11.00 in a research report on Tuesday, July 18th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$9.46.

Hudbay Minerals Stock Up 2.3 %

The company has a market cap of C$2.32 billion, a PE ratio of -35.26, a PEG ratio of 3.97 and a beta of 2.06. The stock’s 50 day moving average price is C$6.82 and its 200-day moving average price is C$6.71. The company has a debt-to-equity ratio of 69.75, a quick ratio of 0.85 and a current ratio of 0.90.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last announced its quarterly earnings data on Tuesday, August 8th. The mining company reported C($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.13). Hudbay Minerals had a negative net margin of 2.75% and a negative return on equity of 1.89%. The business had revenue of C$419.32 million during the quarter, compared to analysts’ expectations of C$452.53 million. On average, analysts predict that Hudbay Minerals Inc. will post 0.5784225 earnings per share for the current year.

Hudbay Minerals Announces Dividend

The company also recently declared a 1 dividend, which will be paid on Friday, September 1st. Investors of record on Friday, January 1st will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, September 22nd. Hudbay Minerals’s dividend payout ratio is currently -10.53%.

Hudbay Minerals Company Profile

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