Hudbay Minerals Inc. (NYSE:HBM – Get Rating) (TSE:HBM) announced a Semi-Annual dividend on Monday, August 8th, Zacks reports. Stockholders of record on Friday, September 2nd will be given a dividend of 0.008 per share by the mining company on Friday, September 23rd. The ex-dividend date of this dividend is Thursday, September 1st.

Hudbay Minerals has raised its dividend payment by an average of 1.3% per year over the last three years. Hudbay Minerals has a payout ratio of 2.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Hudbay Minerals to earn $0.87 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 2.3%.

Hudbay Minerals Stock Performance

NYSE HBM traded up $0.40 during trading hours on Wednesday, hitting $4.55. The company had a trading volume of 157,376 shares, compared to its average volume of 1,471,942. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.92 and a current ratio of 1.35. Hudbay Minerals has a 1-year low of $3.08 and a 1-year high of $8.75. The company has a market cap of $1.19 billion, a PE ratio of -9.96, a price-to-earnings-growth ratio of 0.72 and a beta of 2.00. The business has a 50 day moving average of $4.25 and a 200-day moving average of $6.15.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HBM shares. StockNews.com cut shares of Hudbay Minerals from a "buy" rating to a "hold" rating in a report on Tuesday, April 19th. Scotiabank dropped their target price on shares of Hudbay Minerals from C$10.00 to C$7.50 in a report on Thursday, July 7th. Stifel Nicolaus lowered their price target on shares of Hudbay Minerals from C$16.50 to C$12.00 in a research report on Tuesday, July 19th. BMO Capital Markets lowered their price target on shares of Hudbay Minerals from C$13.00 to C$12.50 in a research report on Tuesday. Finally, Royal Bank of Canada lowered their price target on shares of Hudbay Minerals from C$14.00 to C$12.00 in a research report on Wednesday, May 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Hudbay Minerals currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.44.

Institutional Investors Weigh In On Hudbay Minerals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James & Associates acquired a new position in shares of Hudbay Minerals in the 1st quarter valued at about $131,000. Bank of New York Mellon Corp boosted its stake in Hudbay Minerals by 24.0% during the 1st quarter. Bank of New York Mellon Corp now owns 75,817 shares of the mining company's stock valued at $595,000 after purchasing an additional 14,683 shares during the period. US Bancorp DE boosted its stake in Hudbay Minerals by 122.4% during the 1st quarter. US Bancorp DE now owns 7,899 shares of the mining company's stock valued at $62,000 after purchasing an additional 4,347 shares during the period. HighTower Advisors LLC bought a new stake in shares of Hudbay Minerals during the 1st quarter worth about $442,000. Finally, BlackRock Inc. raised its position in shares of Hudbay Minerals by 81.5% during the 1st quarter. BlackRock Inc. now owns 95,254 shares of the mining company's stock worth $748,000 after buying an additional 42,769 shares in the last quarter. Institutional investors own 67.11% of the company's stock.

About Hudbay Minerals

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Hudbay Minerals Inc, a diversified mining company, together with its subsidiaries, focuses on the discovery, production, and marketing of base and precious metals in North and South America. It produces copper concentrates containing copper, gold, and silver; silver/gold doré; molybdenum concentrates; and zinc metals.

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