HudBay Minerals Inc (NYSE:HBM) Plans Dividend of C$0.01

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) announced a dividend on Thursday, February 19th. Stockholders of record on Tuesday, March 10th will be paid a dividend of 0.01 per share by the mining company on Friday, March 27th. This represents a dividend yield of 8.0%. The ex-dividend date is Tuesday, March 10th.

HudBay Minerals has decreased its dividend by an average of 0.1%per year over the last three years. HudBay Minerals has a payout ratio of 1.5% 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

Shares of HBM traded up $0.26 during trading hours on Friday, reaching $25.00. 10,160,484 shares of the company traded hands, compared to its average volume of 6,560,169. The stock has a market capitalization of $9.92 billion, a PE ratio of 21.55 and a beta of 1.33. The stock has a fifty day simple moving average of $22.72 and a 200 day simple moving average of $17.32. HudBay Minerals has a fifty-two week low of $5.95 and a fifty-two week high of $28.74. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.18.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its earnings results on Friday, February 20th. The mining company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.08). HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. During the same quarter last year, the company posted $0.18 earnings per share. The company’s revenue was up 25.3% on a year-over-year basis. As a group, research analysts predict that HudBay Minerals will post 0.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of HudBay Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. UBS Group started coverage on HudBay Minerals in a research note on Thursday, January 8th. They set a “buy” rating on the stock. Weiss Ratings upgraded HudBay Minerals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of HudBay Minerals in a research note on Thursday, January 15th. Finally, Scotiabank reissued an “outperform” rating on shares of HudBay Minerals in a research note on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $26.00.

HudBay Minerals Company Profile

HudBay Minerals Inc is a Canada-based mining company engaged in the exploration, development and production of base and precious metals. Its primary products include copper, zinc, gold and silver concentrates, which are sold to smelters and refiners worldwide. The company’s operations span multiple stages of the mining cycle, from resource definition and feasibility studies to mine construction, extraction and reclamation.

The company traces its roots back to 1927, when it was established as Hudson Bay Mining & Smelting Co Limited.