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 Monday, February 22nd, Wall Street Journal reports. Shareholders of record on Tuesday, March 9th will be given a dividend of 0.0079 per share by the mining company on Friday, March 26th. This represents a dividend yield of 0.2%. The ex-dividend date is Monday, March 8th. This is an increase from Hudbay Minerals’s previous semi-annual dividend of $0.0075.

Hudbay Minerals has decreased its dividend payment by 2.6% over the last three years and has increased its dividend every year for the last 1 years. Hudbay Minerals has a dividend payout ratio of 10.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hudbay Minerals to earn $0.09 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 22.2%.

NYSE:HBM opened at $8.09 on Tuesday. The company has a fifty day simple moving average of $6.72 and a two-hundred day simple moving average of $5.55. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -13.71 and a beta of 2.57. The company has a quick ratio of 1.81, a current ratio of 2.21 and a debt-to-equity ratio of 0.72. Hudbay Minerals has a 52 week low of $1.23 and a 52 week high of $8.39.

Hudbay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings data on Thursday, February 18th. The mining company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Hudbay Minerals had a negative net margin of 14.02% and a negative return on equity of 7.32%. On average, analysts expect that Hudbay Minerals will post -0.49 EPS for the current year.

HBM has been the subject of several recent analyst reports. TD Securities lifted their price objective on shares of Hudbay Minerals from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Friday. Stifel Nicolaus lifted their price objective on shares of Hudbay Minerals from $7.50 to $9.50 and gave the stock a “buy” rating in a research report on Tuesday, November 24th. Canaccord Genuity boosted their price target on shares of Hudbay Minerals from $7.50 to $12.00 and gave the company a “buy” rating in a research report on Friday, January 8th. BMO Capital Markets boosted their price target on shares of Hudbay Minerals from $9.50 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, November 4th. Finally, Credit Suisse Group boosted their price target on shares of Hudbay Minerals from $6.50 to $7.75 and gave the company an “outperform” rating in a research report on Tuesday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $9.40.

About Hudbay Minerals

Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; molybdenum concentrates; and zinc metals.

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Dividend History for Hudbay Minerals (NYSE:HBM)

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