Hudbay Minerals (TSE:HBM) Trading Up 3.2% After Dividend Announcement

Key Points

• Hudbay Minerals' shares rose by 3.2% after announcing a $0.01 dividend which will be paid on September 19th to shareholders of record as of September 2nd.
• Multiple research firms have updated their ratings on Hudbay Minerals, with National Bankshares raising the price target from C$14.50 to C$16.50 and giving it an "outperform" rating.
• Hudbay Minerals has a current market cap of C$4.50 billion and reported a dividend payout ratio of 5.63%, signaling a strong financial position in the mining sector.

Hudbay Minerals Inc. (TSE:HBM - Get Free Report) NYSE: HBM shares traded up 3.2% during trading on Wednesday following a dividend announcement from the company. The company traded as high as C$13.66 and last traded at C$13.57. 1,645,643 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 1,706,539 shares. The stock had previously closed at C$13.15.The newly announced dividend which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 2nd will be given a $0.01 dividend. Hudbay Minerals's dividend payout ratio (DPR) is 5.63%.

Wall Street Analysts Forecast Growth

HBM has been the topic of several research reports. National Bankshares raised their price objective on Hudbay Minerals from C$14.50 to C$16.50 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Desjardins boosted their price target on Hudbay Minerals from C$16.00 to C$17.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Veritas upgraded shares of Hudbay Minerals to a "strong-buy" rating in a report on Monday, July 7th. BMO Capital Markets raised shares of Hudbay Minerals to a "strong-buy" rating in a research report on Tuesday, April 15th. Finally, Raymond James Financial raised Hudbay Minerals to a "moderate buy" rating in a research report on Monday, June 30th. Eight equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of C$16.17.

Hudbay Minerals Stock Up 19.5%

The firm's 50 day moving average price is C$13.61 and its two-hundred day moving average price is C$11.95. The company has a debt-to-equity ratio of 46.39, a current ratio of 1.86 and a quick ratio of 0.85. The firm has a market cap of C$4.50 billion, a price-to-earnings ratio of 45.68, a P/E/G ratio of 3.97 and a beta of 1.83.

Insider Activity at Hudbay Minerals

In other Hudbay Minerals news, Director Gregory Paul Dryden sold 30,000 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of C$13.21, for a total value of C$396,204.00. Also, Senior Officer Mark Zachary Gupta sold 2,874 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of C$13.25, for a total transaction of C$38,080.50. Insiders have sold a total of 34,074 shares of company stock worth $447,953 in the last quarter. 0.07% of the stock is currently owned by insiders.

About Hudbay Minerals

Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals.

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