HudBay Minerals (NYSE:HBM) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $19.54 and traded as high as $20.04. HudBay Minerals shares last traded at $19.0650, with a volume of 4,792,850 shares changing hands.

Wall Street Analyst Weigh In

HBM has been the subject of several analyst reports. UBS Group initiated coverage on HudBay Minerals in a research report on Thursday, January 8th. They issued a “buy” rating for the company. Zacks Research downgraded HudBay Minerals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. National Bank Financial lowered HudBay Minerals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, January 28th. Citigroup increased their price target on HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $26.00.

HudBay Minerals Price Performance

The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 0.18. The company’s fifty day moving average is $23.81 and its two-hundred day moving average is $19.54. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 0.27 and a beta of 1.27.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.18). HudBay Minerals had a net margin of 25.71% and a return on equity of 8.91%. The firm had revenue of $732.90 million during the quarter, compared to analysts’ expectations of $730.13 million. During the same period in the previous year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, research analysts predict that HudBay Minerals Inc will post 0.79 earnings per share for the current year.

HudBay Minerals Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, March 27th. Investors of record on Tuesday, March 10th were issued a $0.01 dividend. This represents a dividend yield of 9.0%. The ex-dividend date was Tuesday, March 10th. HudBay Minerals’s payout ratio is currently 0.70%.

Hedge Funds Weigh In On HudBay Minerals

A number of hedge funds and other institutional investors have recently bought and sold shares of HBM. GMT Capital Corp purchased a new stake in HudBay Minerals during the second quarter worth about $337,809,000. FIL Ltd boosted its stake in shares of HudBay Minerals by 202.0% in the fourth quarter. FIL Ltd now owns 33,143,172 shares of the mining company’s stock valued at $658,010,000 after purchasing an additional 22,169,339 shares during the period. Hancock Prospecting Pty Ltd purchased a new position in shares of HudBay Minerals in the second quarter valued at approximately $154,359,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of HudBay Minerals in the third quarter valued at approximately $123,736,000. Finally, Norges Bank acquired a new position in shares of HudBay Minerals in the second quarter valued at approximately $60,053,000. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

About HudBay Minerals

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.