HudBay Minerals Inc (HBM) To Go Ex-Dividend on March 10th

HudBay Minerals Inc (NYSE:HBM) (TSE:HBM) announced a dividend on Thursday, February 19th. Shareholders of record on Tuesday, March 10th will be paid a dividend of 0.01 per share by the mining company on Friday, March 27th. This represents a yield of 8.0%. The ex-dividend date of this dividend is Tuesday, March 10th.

HudBay Minerals has decreased its dividend by an average of 0.1%annually over the last three years. HudBay Minerals has a payout ratio of 1.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect HudBay Minerals to earn $0.70 per share next year, which means the company should continue to be able to cover its $0.01 annual dividend with an expected future payout ratio of 1.4%.

HudBay Minerals Stock Up 1.0%

Shares of HBM opened at $25.00 on Friday. The company’s 50-day simple moving average is $22.84 and its 200-day simple moving average is $17.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.97. HudBay Minerals has a 1 year low of $5.95 and a 1 year high of $28.74. The stock has a market capitalization of $9.92 billion, a PE ratio of 21.55 and a beta of 1.33.

HudBay Minerals (NYSE:HBM) (TSE:HBM) last announced its quarterly earnings data on Friday, February 20th. The mining company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.08). HudBay Minerals had a net margin of 22.38% and a return on equity of 8.89%. The firm’s revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. Analysts forecast that HudBay Minerals will post 0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp raised its stake in HudBay Minerals by 131.6% during the 1st quarter. Jones Financial Companies Lllp now owns 6,570 shares of the mining company’s stock worth $50,000 after acquiring an additional 3,733 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of HudBay Minerals by 144.2% during the first quarter. Goldman Sachs Group Inc. now owns 7,281,095 shares of the mining company’s stock worth $55,264,000 after purchasing an additional 4,299,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of HudBay Minerals by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,687 shares of the mining company’s stock worth $3,337,000 after purchasing an additional 27,944 shares in the last quarter. Carrera Capital Advisors purchased a new stake in shares of HudBay Minerals in the 2nd quarter valued at about $1,822,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of HudBay Minerals by 45.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 51,581 shares of the mining company’s stock valued at $547,000 after purchasing an additional 16,149 shares during the period. 57.82% of the stock is owned by hedge funds and other institutional investors.

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.