HudBay Minerals Inc (NYSE:HBM) to Issue Quarterly Dividend of C$0.01

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) declared a quarterly dividend on Wednesday, November 11th. Stockholders of record on Tuesday, December 1st will be paid a dividend of C$0.01 per share by the mining company on Friday, December 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, December 1st.

HudBay Minerals has a dividend payout ratio of 3.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect HudBay Minerals to earn $1.65 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 1.2%.

HudBay Minerals Stock Down 1.4%

Shares of NYSE:HBM opened at $21.62 on Friday. HudBay Minerals has a one year low of $14.34 and a one year high of $32.15. The company has a 50 day moving average of $24.87 and a 200-day moving average of $24.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.93. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 0.40 and a beta of 1.62.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last posted its quarterly earnings results on Thursday, November 12th. The mining company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). HudBay Minerals had a return on equity of 9.47% and a net margin of 27.48%. The business had revenue of $765.90 million for the quarter, compared to the consensus estimate of $730.19 million. On average, sell-side analysts forecast that HudBay Minerals will post 1.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HBM. Weiss Ratings raised shares of HudBay Minerals from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Scotiabank reiterated an “outperform” rating on shares of HudBay Minerals in a research report on Thursday, July 30th. Barclays reissued an “overweight” rating on shares of HudBay Minerals in a research note on Tuesday, October 6th. Finally, Wall Street Zen lowered HudBay Minerals from a “buy” rating to a “hold” rating in a research report on Sunday, October 25th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, HudBay Minerals currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.33.

About HudBay Minerals

Hudbay Minerals, now known as Hudbay Inc., is a mining company focused on the discovery, development and operation of copper and other metal deposits. Its products include copper, zinc, gold, silver and molybdenum. The company operates the Constancia mine in Peru and mining and processing assets in Manitoba, Canada, including the Lalor mine. In British Columbia, Hudbay operates the Copper Mountain mine. It also advances copper exploration and development projects in the United States, including projects in Arizona.