HudBay Minerals (NYSE:HBM) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) crossed above its 200-day moving average during trading on Monday . The stock has a 200-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.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Scotiabank restated an “outperform” rating on shares of HudBay Minerals in a research report on Monday, January 26th. UBS Group started coverage on shares of HudBay Minerals in a report on Thursday, January 8th. They issued a “buy” rating on the stock. Citigroup raised their price target on shares of HudBay Minerals from $23.00 to $32.50 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Jefferies Financial Group reaffirmed a “buy” rating on shares of HudBay Minerals in a research report on Sunday, December 7th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, HudBay Minerals currently has an average rating of “Moderate Buy” and an average price target of $26.00.

HudBay Minerals Stock Performance

The stock has a market capitalization of $8.73 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 0.29 and a beta of 1.42. The firm’s fifty day moving average is $23.70 and its 200-day moving average is $19.61. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 0.18.

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

HudBay Minerals Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HBM. Allworth Financial LP raised its holdings in shares of HudBay Minerals by 107.9% in the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after buying an additional 1,033 shares during the period. Quarry LP acquired a new position in HudBay Minerals in the 3rd quarter valued at about $38,000. Global Retirement Partners LLC purchased a new stake in HudBay Minerals during the third quarter worth about $45,000. IFP Advisors Inc acquired a new stake in shares of HudBay Minerals during the third quarter worth about $45,000. Finally, Banque Cantonale Vaudoise lifted its position in shares of HudBay Minerals by 513.5% during the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock worth $48,000 after purchasing an additional 2,655 shares in the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.

HudBay Minerals Company Profile

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.