Hudbay Minerals Inc. (NYSE:HBM – Get Rating) (TSE:HBM) declared a Semi-Annual dividend on Monday, August 8th, Zacks reports. Shareholders 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 increased its dividend by an average of 1.3% per year over the last three years. Hudbay Minerals has a dividend payout ratio of 2.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 10.4 %

NYSE:HBM traded up $0.43 on Wednesday, hitting $4.58. The stock had a trading volume of 149,340 shares, compared to its average volume of 1,471,942. The company has a fifty day moving average price of $4.25 and a two-hundred day moving average price of $6.15. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -9.96, a PEG ratio of 0.72 and a beta of 2.00. Hudbay Minerals has a 1-year low of $3.08 and a 1-year high of $8.75. The company has a quick ratio of 0.92, a current ratio of 1.35 and a debt-to-equity ratio of 0.79.

Institutional Investors Weigh In On Hudbay Minerals

Several large investors have recently made changes to their positions in HBM. Raymond James & Associates bought a new stake in Hudbay Minerals during the first quarter worth approximately $131,000. Bank of New York Mellon Corp lifted its holdings in shares of Hudbay Minerals by 24.0% during the first quarter. Bank of New York Mellon Corp now owns 75,817 shares of the mining company's stock worth $595,000 after buying an additional 14,683 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Hudbay Minerals by 122.4% during the first quarter. US Bancorp DE now owns 7,899 shares of the mining company's stock worth $62,000 after buying an additional 4,347 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Hudbay Minerals during the first quarter worth approximately $442,000. Finally, BlackRock Inc. lifted its holdings in shares of Hudbay Minerals by 81.5% during the first quarter. BlackRock Inc. now owns 95,254 shares of the mining company's stock worth $748,000 after buying an additional 42,769 shares during the last quarter. Institutional investors own 67.11% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. CIBC decreased their price target on shares of Hudbay Minerals from C$14.00 to C$11.50 in a research note on Wednesday, May 18th. Royal Bank of Canada reduced their price objective on shares of Hudbay Minerals from C$14.00 to C$12.00 in a report on Wednesday, May 11th. Raymond James boosted their price target on shares of Hudbay Minerals from C$13.00 to C$14.00 in a research report on Wednesday, April 20th. BMO Capital Markets cut their price objective on Hudbay Minerals from C$13.00 to C$12.50 in a report on Tuesday. Finally, Stifel Nicolaus cut their price objective on Hudbay Minerals from C$16.50 to C$12.00 in a report on Tuesday, July 19th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.44.

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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