|Bid||7.99 x 2900|
|Ask||8.00 x 2200|
|Day's Range||7.88 - 8.24|
|52 Week Range||1.86 - 8.54|
|Beta (5Y Monthly)||2.09|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.02 (0.20%)|
|Ex-Dividend Date||Mar 08, 2021|
|1y Target Est||N/A|
The U.S.-listed shares of Hudbay Minerals Inc. shot up 8.4% in morning trading, putting them on track for a seventh straight gain, after BofA Securities analyst Lawson Winder swung to bullish from bearish on the Toronto-based copper producer, citing a "greatly improved outlook" for the copper business given expectations that copper prices will rise. A seven-day win streak would be the longest since it rose for nine straight days through Dec. 28, 2017. Winder double upgraded Hudbay to buy from underperform, while boosting his price target by 15% to $9.50. The stock has soared 35.0% during its current win streak, to trade just shy of its Feb. 24 three-year closing high of $8.33. "We see a greatly improved outlook for the copper business and BofA is bullish copper prices," Winder wrote in a note to clients. "2022-2023 copper production guidance was better than expected, while copper, gold and silver reserves were more than replaced." Continuous copper futures fell 0.7% on Tuesday, but has shot up 16.7% year to date. In comparison, Hudbay shares have rallied 17.9% this year while the S&P 500 has gained 8.7%.
Hudbay Minerals was rising sharply Tuesday after analysts at Bank of America issued a double upgrade on shares of the Canadian copper miner to buy from underperform. Bank of America said the company's copper business has "improved greatly," as it raised the price target on the stock to C$12.20 from C$10.60 a share. "We see a greatly improved outlook for the copper business and BofA is bullish copper prices," Bank of America analyst Lawson Winder wrote in a note to clients.
Hudbay Minerals (NYSE:HBM) declared a dividend payable on March 26, 2021 to its shareholders as of February 18, 2021. It was also announced that shareholders of Hudbay Minerals's stock as of March 9, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. The ex-dividend date for Hudbay Minerals is set for March 8, 2021. The company's current dividend payout sits at $0.01, equating to a dividend yield of 0.22% at current price levels. The Significance Of An Ex-Dividend Date Ex-dividend dates signal when company shares cease to trade with their current dividend payouts. There is a small intermission period before companies announce new dividends. Usually, a company's ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Typically, companies will announce and implement new dividend yields on a quarterly basis. Understanding Hudbay Minerals's Dividend Performance Over the past year, Hudbay Minerals has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on March 7, 2019 the company's payout was $0.01, which has returned to its value today. Hudbay Minerals's dividend yield last year was 0.33%, which has since decreased by 0.11%. Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market. To read more about Hudbay Minerals click here. See more from BenzingaClick here for options trades from BenzingaAnalyzing LeMaitre Vascular's Ex-Dividend DateUnderstanding Kronos Worldwide's Ex-Dividend Date© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.