Hudbay Minerals (TSE:HBM) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Hudbay Minerals Inc. (TSE:HBM) (NYSE:HBM)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$23.88 and traded as high as C$35.28. Hudbay Minerals shares last traded at C$34.19, with a volume of 3,367,115 shares traded.

Analyst Ratings Changes

HBM has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price target on shares of Hudbay Minerals from C$31.00 to C$37.00 in a research note on Monday, January 19th. Stifel Nicolaus lifted their price objective on shares of Hudbay Minerals from C$28.00 to C$41.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. UBS Group set a C$34.50 target price on shares of Hudbay Minerals and gave the stock a “buy” rating in a report on Friday, January 9th. Canadian Imperial Bank of Commerce raised their price target on shares of Hudbay Minerals from C$35.00 to C$42.00 in a research report on Wednesday, February 4th. Finally, National Bank Financial lowered Hudbay Minerals from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from C$28.00 to C$40.00 in a report on Thursday, January 29th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$35.05.

Hudbay Minerals Stock Down 0.3%

The company has a quick ratio of 0.85, a current ratio of 1.86 and a debt-to-equity ratio of 46.39. The company has a market capitalization of C$13.54 billion, a PE ratio of 29.47, a P/E/G ratio of 3.97 and a beta of 2.16. The stock has a 50-day moving average of C$31.02 and a 200 day moving average of C$23.88.

Hudbay Minerals (TSE:HBM) (NYSE:HBM) last posted its quarterly earnings data on Wednesday, November 12th. The mining company reported C$0.03 earnings per share for the quarter. Hudbay Minerals had a return on equity of 3.74% and a net margin of 4.23%.The business had revenue of C$0.35 million for the quarter. Sell-side analysts anticipate that Hudbay Minerals Inc. will post 1.1220575 EPS for the current year.

About Hudbay Minerals

Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals. Hudbay produces copper concentrate, which contains copper, gold, and silver, as well as zinc metal. More than half the company’s revenue is attributable to the copper business.