Empowered Funds LLC acquired a new stake in Hecla Mining Company (NYSE:HL – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,464,619 shares of the basic materials company’s stock, valued at approximately $22,599,000. Empowered Funds LLC owned about 0.22% of Hecla Mining as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in HL. United Capital Financial Advisors LLC bought a new position in Hecla Mining in the second quarter valued at $175,000. Jefferies Financial Group Inc. acquired a new stake in Hecla Mining in the 2nd quarter valued at $678,000. Public Employees Retirement System of Ohio bought a new stake in Hecla Mining during the 2nd quarter worth about $2,823,000. Capstone Investment Advisors LLC bought a new stake in Hecla Mining during the 2nd quarter worth about $167,000. Finally, Parvin Asset Management LLC acquired a new position in shares of Hecla Mining during the 2nd quarter worth about $2,532,000. Institutional investors own 63.01% of the company’s stock.
Analyst Upgrades and Downgrades
HL has been the topic of a number of recent research reports. Zacks Research raised Hecla Mining to a “hold” rating in a research report on Friday, July 17th. Jefferies Financial Group started coverage on Hecla Mining in a research report on Thursday, August 20th. They set a “hold” rating and a $22.00 price target for the company. Scotiabank lowered their price target on Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Wall Street Zen lowered Hecla Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, HC Wainwright dropped their price objective on Hecla Mining from $36.50 to $26.75 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $23.82.
Hecla Mining Price Performance
Hecla Mining stock opened at $21.41 on Friday. The firm has a market capitalization of $14.38 billion, a PE ratio of 43.70 and a beta of 1.32. The company’s 50-day moving average is $16.50 and its 200-day moving average is $18.21. Hecla Mining Company has a fifty-two week low of $8.02 and a fifty-two week high of $34.17.
Hecla Mining (NYSE:HL – Get Free Report) last issued its earnings results on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%. The firm had revenue of $333.85 million during the quarter, compared to analyst estimates of $368.75 million. During the same quarter last year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts expect that Hecla Mining Company will post 0.46 EPS for the current year.
Hecla Mining Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be paid a $0.0038 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $0.01 annualized dividend and a yield of 0.1%. Hecla Mining’s dividend payout ratio is currently 2.04%.
Hecla Mining Profile
Hecla Mining Company, founded in 1891 and headquartered in Coeur d’Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d’Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.
The company’s principal operations are located in North America and Latin America.
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