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. Shareholders 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 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 1.4% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of NYSE:HBM opened at $7.61 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.86 and a quick ratio of 1.47. Hudbay Minerals has a 1 year low of $5.22 and a 1 year high of $10.49. The firm has a market capitalization of $3.00 billion, a PE ratio of 42.25 and a beta of 1.74. The business’s 50 day moving average price is $8.53 and its 200-day moving average price is $8.53.

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 the consensus estimate of $0.20 by ($0.02). Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The business had revenue of $584.90 million for the quarter, compared to analyst estimates of $588.28 million. During the same period last year, the firm earned $0.20 EPS. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts expect that Hudbay Minerals will post 0.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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 investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Hudbay Minerals currently has an average rating of “Buy” and an average price target 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.