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

Key Points

• HudBay Minerals declared a C$0.01 quarterly dividend, payable September 25 to shareholders of record on September 8. The dividend represents an annualized payout of approximately C$0.02 per share and a 0.2% yield.
• The company’s dividend appears well covered, with a payout ratio of 3.0%; analysts expect earnings of $1.93 per share next year versus an annual dividend of C$0.02.
• HudBay reported quarterly EPS of $0.28, exceeding estimates of $0.26, while revenue rose 17.7% year over year to $631.3 million, slightly below analyst expectations.

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

HudBay Minerals has a dividend payout ratio of 3.0% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 0.8%

HudBay Minerals stock opened at $21.94 on Thursday. The stock has a 50-day moving average price of $24.72 and a 200 day moving average price of $24.14. The company has a market capitalization 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. 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.

HudBay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. The company had revenue of $631.30 million during the quarter, compared to analyst estimates of $632.43 million. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. HudBay Minerals's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the firm posted $0.19 EPS. Sell-side analysts anticipate that HudBay Minerals will post 1.55 EPS for the current year.

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.

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