HudBay Minerals Inc (HBM) to Issue Quarterly Dividend of C$0.01 on June 26th

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) announced a quarterly dividend on Thursday, April 30th. Investors of record on Tuesday, June 9th will be given a dividend of 0.01 per share by the mining company on Friday, June 26th. This represents a c) annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, June 9th.

HudBay Minerals has a payout ratio of 3.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect HudBay Minerals to earn $2.02 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 Stock Performance

HudBay Minerals stock opened at $25.63 on Friday. HudBay Minerals has a 12-month low of $8.93 and a 12-month high of $32.15. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 0.30 and a beta of 1.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 1.20. The firm’s fifty day moving average price is $24.66 and its 200 day moving average price is $22.62.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last released its quarterly earnings results on Friday, May 1st. The mining company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. HudBay Minerals had a net margin of 27.75% and a return on equity of 10.04%. The firm had revenue of $757.30 million for the quarter, compared to the consensus estimate of $684.73 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. On average, research analysts forecast that HudBay Minerals will post 1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On HudBay Minerals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Picton Mahoney Asset Management boosted its holdings in shares of HudBay Minerals by 9.3% in the 3rd quarter. Picton Mahoney Asset Management now owns 6,350,482 shares of the mining company’s stock valued at $96,171,000 after buying an additional 537,964 shares during the period. Bank of Nova Scotia boosted its holdings in shares of HudBay Minerals by 662.0% in the 3rd quarter. Bank of Nova Scotia now owns 4,273,384 shares of the mining company’s stock valued at $64,783,000 after buying an additional 3,712,572 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of HudBay Minerals by 10.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,502,218 shares of the mining company’s stock valued at $159,111,000 after buying an additional 986,278 shares during the period. Affinity Wealth Management LLC acquired a new position in shares of HudBay Minerals in the 4th quarter valued at about $3,857,000. Finally, Artemis Investment Management LLP boosted its holdings in shares of HudBay Minerals by 15.6% in the 4th quarter. Artemis Investment Management LLP now owns 5,709,453 shares of the mining company’s stock valued at $113,355,000 after buying an additional 770,172 shares during the period. Institutional investors own 57.82% of the company’s stock.

About HudBay Minerals

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.