Maverix Metals Inc. (NYSE:MMX - Get Rating) declared a quarterly dividend on Wednesday, November 16th, Wall Street Journal reports. Investors of record on Wednesday, November 30th will be paid a dividend of 0.0125 per share on Thursday, December 15th. This represents a $0.05 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Tuesday, November 29th.
Maverix Metals has a dividend payout ratio of 41.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Maverix Metals to earn $0.12 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 41.7%.
Maverix Metals Stock Down 2.5 %
NYSE:MMX traded down $0.10 during mid-day trading on Wednesday, hitting $3.87. 285,978 shares of the company's stock were exchanged, compared to its average volume of 240,699. The company has a market cap of $570.24 million, a PE ratio of 49.63 and a beta of 0.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.86 and a quick ratio of 14.86. Maverix Metals has a one year low of $2.99 and a one year high of $5.45. The business has a fifty day moving average price of $3.37 and a 200 day moving average price of $3.88.
Hedge Funds Weigh In On Maverix Metals
Several large investors have recently added to or reduced their stakes in MMX. Swiss National Bank increased its stake in shares of Maverix Metals by 11.8% in the first quarter. Swiss National Bank now owns 121,515 shares of the company's stock worth $582,000 after purchasing an additional 12,800 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Maverix Metals by 45.1% in the 1st quarter. JPMorgan Chase & Co. now owns 10,129 shares of the company's stock worth $49,000 after buying an additional 3,147 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Maverix Metals during the first quarter valued at about $67,000. HighTower Advisors LLC lifted its position in shares of Maverix Metals by 33.0% in the first quarter. HighTower Advisors LLC now owns 17,950 shares of the company's stock valued at $84,000 after acquiring an additional 4,450 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Maverix Metals by 38.2% in the first quarter. BlackRock Inc. now owns 24,419 shares of the company's stock valued at $117,000 after acquiring an additional 6,746 shares in the last quarter. Hedge funds and other institutional investors own 20.65% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. Raymond James cut their price target on Maverix Metals from C$8.00 to C$7.75 in a research note on Monday, August 15th. National Bank Financial cut their target price on Maverix Metals from C$6.50 to C$6.00 in a research note on Thursday, October 13th. BMO Capital Markets lowered Maverix Metals from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $5.75 to $4.00 in a research report on Friday, November 11th. Finally, Stifel Nicolaus downgraded shares of Maverix Metals from a "buy" rating to a "hold" rating in a research report on Wednesday.
Maverix Metals Company Profile
Maverix Metals Inc, together with its subsidiaries, operates as a precious metals royalty and streaming company in Canada. The company explores for gold, silver, lead, zinc, copper, nickel, and other metals. It has a portfolio of over 100 royalties and streams in the Americas and Australia. The company was incorporated in 2016 and is headquartered in Vancouver, Canada.
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