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

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) announced a quarterly dividend on Tuesday, July 28th. Shareholders 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 yield of 0.2%. The ex-dividend date is Tuesday, September 8th.

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

Shares of NYSE:HBM opened at $21.94 on Thursday. The firm has a fifty day moving average of $24.72 and a two-hundred day moving average of $24.14. The firm has a market capitalization of $9.75 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. HudBay Minerals has a 12-month low of $8.93 and a 12-month 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) (TSE:HBM) last posted 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. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The business had revenue of $631.30 million for the quarter, compared to analysts’ expectations of $632.43 million. During the same period in the previous year, the company posted $0.19 EPS. HudBay Minerals’s revenue was up 17.7% on a year-over-year basis. On average, equities analysts expect that HudBay Minerals will post 1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On HudBay Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in HBM. Ausbil Investment Management Ltd acquired a new position in HudBay Minerals during the second quarter valued at approximately $342,000. Wealthcare Advisory Partners LLC lifted its stake in shares of HudBay Minerals by 2.7% in the second quarter. Wealthcare Advisory Partners LLC now owns 37,766 shares of the mining company’s stock worth $892,000 after buying an additional 992 shares during the last quarter. Acasta Partners UK LLP boosted its holdings in shares of HudBay Minerals by 9.4% during the 2nd quarter. Acasta Partners UK LLP now owns 112,352 shares of the mining company’s stock worth $2,651,000 after buying an additional 9,652 shares during the period. Empowered Funds LLC boosted its holdings in shares of HudBay Minerals by 53.1% during the 1st quarter. Empowered Funds LLC now owns 36,598 shares of the mining company’s stock worth $765,000 after buying an additional 12,695 shares during the period. Finally, NewEdge Advisors LLC grew its stake in HudBay Minerals by 5,677.7% in the 1st quarter. NewEdge Advisors LLC now owns 27,502 shares of the mining company’s stock valued at $575,000 after buying an additional 27,026 shares during the last quarter. 57.82% of the stock is currently 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.