Hudbay Minerals Inc. (NYSE:HBM) Declares Dividend Increase – $0.01 Per Share

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) declared a semi-annual dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders 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 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 Performance

NYSE:HBM traded down $0.14 during mid-day trading on Thursday, hitting $7.61. 5,491,518 shares of the stock were exchanged, compared to its average volume of 6,442,764. The firm’s 50-day simple moving average is $8.56 and its 200 day simple 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 fifty-two week low of $5.22 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.47 and a current ratio of 1.86.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results 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 net margin of 4.23% and a return on equity of 7.44%. The business had revenue of $584.90 million during the quarter, compared to the consensus estimate of $588.28 million. During the same period in the previous year, the firm posted $0.20 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Hudbay Minerals will post 0.45 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock 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.