Crescent Grove Advisors LLC acquired a new stake in Hecla Mining Company (NYSE:HL – Free Report) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 38,430 shares of the basic materials company’s stock, valued at approximately $654,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of HL. BlackRock Inc. acquired a new position in Hecla Mining during the 2nd quarter worth $1,085,779,000. Van ECK Associates Corp increased its holdings in Hecla Mining by 15.3% during the 2nd quarter. Van ECK Associates Corp now owns 38,174,114 shares of the basic materials company’s stock worth $589,027,000 after purchasing an additional 5,053,624 shares during the period. Bank of New York Mellon Corp purchased a new stake in Hecla Mining during the 2nd quarter worth about $64,124,000. Renaissance Technologies LLC acquired a new stake in Hecla Mining in the 1st quarter valued at about $72,659,000. Finally, Empowered Funds LLC acquired a new stake in Hecla Mining in the 2nd quarter valued at about $22,599,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. Scotiabank decreased their price objective on Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Jefferies Financial Group began coverage on shares of Hecla Mining in a research note on Thursday, August 20th. They set a “hold” rating and a $22.00 target price on the stock. Royal Bank Of Canada reduced their target price on shares of Hecla Mining from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, September 16th. Weiss Ratings raised shares of Hecla Mining from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Zacks Research upgraded shares of Hecla Mining to a “hold” rating in a research note on Friday, July 17th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.34.
Check Out Our Latest Analysis on Hecla Mining
Hecla Mining Price Performance
NYSE:HL opened at $14.09 on Friday. The firm has a market capitalization of $9.47 billion, a PE ratio of 28.76 and a beta of 1.37. The business’s fifty day moving average price is $18.35 and its 200 day moving average price is $17.37. Hecla Mining Company has a 12 month low of $11.81 and a 12 month high of $34.17.
Hecla Mining (NYSE:HL – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $333.85 million for the quarter, compared to analysts’ expectations of $368.75 million. Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. As a group, equities analysts anticipate that Hecla Mining Company will post 0.46 EPS for the current year.
Hecla Mining Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th were issued a $0.0037 dividend. The ex-dividend date was Wednesday, August 26th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.1%. Hecla Mining’s dividend payout ratio is presently 2.04%.
Hecla Mining Company Profile
Hecla Mining Company (NYSE: HL) is a precious and base metals mining company that explores for, develops, and produces silver, gold, lead, and zinc. The company also undertakes activities related to mineral processing, mine development, and exploration of additional mineral resources.
Founded in 1891, Hecla is headquartered in Coeur d’Alene, Idaho, and is one of the oldest mining companies listed on the New York Stock Exchange. Its operating portfolio has included the Greens Creek silver-gold-lead-zinc mine in Alaska, the Lucky Friday silver-lead-zinc mine in Idaho, the Casa Berardi gold mine in Quebec, and the Keno Hill silver operations in Yukon, Canada.
Through its mines and exploration projects in the United States and Canada, Hecla supplies silver and other metals to industrial, investment, and manufacturing markets.
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