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

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) declared a quarterly dividend on Tuesday, July 28th. Investors of record on Tuesday, September 8th will be paid a dividend of 0.01 per share by the mining company on Friday, September 25th. This represents a c) annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, September 8th.

HudBay Minerals has a payout ratio of 3.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect HudBay Minerals to earn $1.93 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 1.0%.

HudBay Minerals Price Performance

HBM stock opened at $21.94 on Thursday. HudBay Minerals has a 52-week low of $8.93 and a 52-week high of $32.15. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.14. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. The business has a fifty day moving average of $24.72 and a two-hundred day moving average of $24.14.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. The business had revenue of $631.30 million for the quarter, compared to analyst estimates of $632.43 million. HudBay Minerals had a return on equity of 10.04% and a net margin of 27.75%.The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.19 EPS. As a group, research analysts anticipate that HudBay Minerals will post 1.55 earnings per share for the current year.

Hedge Funds Weigh In On HudBay Minerals

A number of institutional investors have recently modified their holdings of the business. Allworth Financial LP raised its position in HudBay Minerals by 107.9% in the 3rd quarter. Allworth Financial LP now owns 1,990 shares of the mining company’s stock valued at $30,000 after purchasing an additional 1,033 shares during the last quarter. Quarry LP purchased a new position in HudBay Minerals during the 3rd quarter worth $38,000. IFP Advisors Inc acquired a new position in HudBay Minerals in the third quarter valued at $45,000. Banque Cantonale Vaudoise raised its holdings in shares of HudBay Minerals by 513.5% in the third quarter. Banque Cantonale Vaudoise now owns 3,172 shares of the mining company’s stock valued at $48,000 after buying an additional 2,655 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of HudBay Minerals by 131.6% in the first quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock valued at $50,000 after buying an additional 3,733 shares during the last quarter. 57.82% of the stock is owned by institutional investors and hedge funds.

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.