Hudbay Minerals Inc. (NYSE:HBM) Declares Semi-annual Dividend of $0.01

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 paid 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 an increase from Hudbay Minerals’s previous semi-annual dividend of $0.007.

Hudbay Minerals has a dividend payout ratio of 1.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hudbay Minerals to earn $0.70 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 1.4%.

Hudbay Minerals Price Performance

Shares of HBM stock opened at $7.11 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. Hudbay Minerals has a twelve month low of $5.80 and a twelve month high of $10.49. The company has a market cap of $2.81 billion, a P/E ratio of 39.49 and a beta of 1.74. The business has a fifty day simple moving average of $8.40 and a 200 day simple moving average of $8.54.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last posted its earnings results on Wednesday, February 19th. The mining company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $584.90 million during the quarter, compared to the consensus estimate of $588.28 million. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.20 EPS. On average, sell-side analysts forecast that Hudbay Minerals will post 0.79 EPS for the current fiscal 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 note on Friday, February 7th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average 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.