Hudbay Minerals Inc. (NYSE:HBM) Increases Dividend to $0.01 Per Share

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) announced a semi-annual dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Tuesday, March 4th will be given a dividend of 0.007 per share by the mining company on Friday, March 21st. This represents a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Hudbay Minerals’s previous semi-annual dividend of $0.007.

Hudbay Minerals has a payout ratio of 1.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Hudbay Minerals to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.01 annual dividend with an expected future payout ratio of 1.3%.

Hudbay Minerals Stock Down 1.7 %

NYSE HBM traded down $0.14 during trading hours on Thursday, hitting $7.61. 5,491,518 shares of the company traded hands, compared to its average volume of 6,442,764. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86. The business’s 50-day moving average is $8.56 and its 200-day moving average is $8.54. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 33.07 and a beta of 1.74. Hudbay Minerals has a twelve month low of $5.22 and a twelve month high of $10.49.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Wednesday, February 19th. The mining company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.44% and a net margin of 4.23%. The company had revenue of $584.90 million for the quarter, compared to the consensus estimate of $588.28 million. During the same quarter in the prior year, the company earned $0.20 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts anticipate that Hudbay Minerals will post 0.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Hudbay Minerals presently has a consensus rating of “Buy” and a consensus target price of $11.17.

About Hudbay Minerals

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