HudBay Minerals Inc (NYSE:HBM) Shareholders to Get C$0.01 Quarterly Dividend

Key Points

• HudBay declared a quarterly dividend of C$0.01 per share, payable December 18 to shareholders of record December 1; the annualized dividend is C$0.04, yielding about 0.2%.
• The dividend appears well covered: the reported payout ratio is 3.0%, and analysts expect next year’s earnings to imply a 1.2% payout ratio.
• HudBay reported quarterly EPS of $0.34, slightly below the $0.35 consensus, while revenue of $765.9 million topped estimates. Analysts’ consensus rating is “Moderate Buy,” with a $31.33 average price target.

HudBay Minerals Inc (NYSE:HBM - Get Free Report) TSE: HBM declared a quarterly dividend on Wednesday, November 11th. Shareholders 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 yield of 0.2%. The ex-dividend date is Tuesday, December 1st.

HudBay Minerals has a payout ratio of 3.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

HudBay Minerals stock opened at $21.62 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.93 and a current ratio of 2.24. The firm has a market cap of $9.60 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.40 and a beta of 1.62. The business's fifty day moving average is $24.87 and its two-hundred day moving average is $24.75. HudBay Minerals has a 52 week low of $14.34 and a 52 week high of $32.15.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last announced its earnings results on Thursday, November 12th. The mining company reported $0.34 EPS for the quarter, missing the consensus estimate 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. Equities research analysts forecast that HudBay Minerals will post 1.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HBM has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of HudBay Minerals from a "buy" rating to a "hold" rating in a report on Sunday, October 25th. Scotiabank restated an "outperform" rating on shares of HudBay Minerals in a research report on Thursday, July 30th. Barclays restated an "overweight" rating on shares of HudBay Minerals in a research report on Tuesday, October 6th. Finally, 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. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average 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.

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