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

Hudbay Minerals Inc. (NYSE:HBM) (TSE:HBM) announced a Semi-Annual dividend on Monday, August 12th, Zacks reports. Investors of record on Tuesday, September 3rd will be given a dividend of 0.007 per share by the mining company on Friday, September 20th. The ex-dividend date of this dividend is Tuesday, September 3rd.

Hudbay Minerals has a dividend payout ratio of 1.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Hudbay Minerals to earn $0.87 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 1.1%.

Hudbay Minerals Price Performance

Hudbay Minerals stock traded up $0.20 during midday trading on Wednesday, reaching $7.48. 2,329,250 shares of the stock were exchanged, compared to its average volume of 2,958,273. The firm has a market cap of $2.94 billion, a PE ratio of 31.65 and a beta of 1.83. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.00 and a current ratio of 1.40. Hudbay Minerals has a 52 week low of $3.94 and a 52 week high of $10.49. The company’s fifty day moving average is $8.56 and its 200-day moving average is $7.76.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Tuesday, May 14th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. The company had revenue of $524.99 million during the quarter, compared to analysts’ expectations of $463.69 million. Hudbay Minerals had a net margin of 4.36% and a return on equity of 6.22%. On average, sell-side analysts forecast that Hudbay Minerals will post 0.59 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com downgraded Hudbay Minerals from a “buy” rating to a “hold” rating in a report on Tuesday. Stifel Canada upgraded shares of Hudbay Minerals to a “strong-buy” rating in a report on Monday, July 22nd. National Bank Financial upgraded shares of Hudbay Minerals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 14th. Finally, Jefferies Financial Group raised Hudbay Minerals from a “hold” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $10.36.

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.