Hudbay Minerals Inc. (NYSE:HBM) Increases Dividend to $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 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 payout ratio of 1.6% indicating that 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 Price Performance

NYSE HBM opened at $7.10 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. The stock has a market capitalization of $2.80 billion, a PE ratio of 39.42 and a beta of 1.74. Hudbay Minerals has a 12-month low of $5.22 and a 12-month high of $10.49. The company has a 50 day moving average price of $8.50 and a two-hundred day moving average price of $8.53.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data 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). The business had revenue of $584.90 million during the quarter, compared to analyst estimates of $588.28 million. Hudbay Minerals had a net margin of 3.80% and a return on equity of 7.29%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS. As a group, equities analysts predict that Hudbay Minerals will post 0.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Hudbay Minerals from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently 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.