Hecla Mining Company (HL) Position Cut by Prudential Financial Inc.
Prudential Financial Inc. trimmed its position in Hecla Mining Company (NYSE:HL) by 61.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 296,682 shares of the basic materials company’s stock after selling 474,850 shares during the quarter. Prudential Financial Inc. owned 0.07% of Hecla Mining worth $1,489,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. AMG National Trust Bank acquired a new stake in Hecla Mining in the third quarter valued at approximately $236,000. Old Mutual Global Investors UK Ltd. boosted its position in Hecla Mining by 23.3% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,854,211 shares of the basic materials company’s stock valued at $9,308,000 after buying an additional 350,000 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Hecla Mining by 14.0% in the third quarter. Canada Pension Plan Investment Board now owns 537,100 shares of the basic materials company’s stock valued at $2,696,000 after buying an additional 66,000 shares in the last quarter. NJ State Employees Deferred Compensation Plan lifted its holdings in shares of Hecla Mining by 45.5% during the third quarter. NJ State Employees Deferred Compensation Plan now owns 160,000 shares of the basic materials company’s stock worth $803,000 after purchasing an additional 50,000 shares during the period. Finally, Linscomb & Williams Inc. acquired a new position in shares of Hecla Mining during the third quarter worth $226,000. Hedge funds and other institutional investors own 60.33% of the company’s stock.
In related news, Director George R. Nethercutt, Jr. sold 62,500 shares of Hecla Mining stock in a transaction on Friday, October 13th. The shares were sold at an average price of $5.24, for a total transaction of $327,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is owned by company insiders.
A number of equities analysts have recently commented on HL shares. HC Wainwright reiterated a “buy” rating and set a $8.50 price target on shares of Hecla Mining in a report on Tuesday, August 29th. ValuEngine upgraded shares of Hecla Mining from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Canaccord Genuity reiterated a “hold” rating and set a $5.00 price target on shares of Hecla Mining in a report on Thursday, September 7th. BMO Capital Markets reiterated a “hold” rating and set a $6.00 price target on shares of Hecla Mining in a report on Wednesday, September 20th. Finally, Zacks Investment Research upgraded shares of Hecla Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $5.75.
Shares of Hecla Mining Company (NYSE:HL) traded down $0.06 during midday trading on Thursday, reaching $3.54. 3,749,900 shares of the company were exchanged, compared to its average volume of 5,591,791. Hecla Mining Company has a fifty-two week low of $3.54 and a fifty-two week high of $6.78. The company has a market capitalization of $1,436.47, a P/E ratio of 51.43, a PEG ratio of 72.00 and a beta of 0.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.69 and a quick ratio of 2.15.
Hecla Mining (NYSE:HL) last announced its earnings results on Tuesday, November 7th. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Hecla Mining had a net margin of 4.21% and a return on equity of 1.89%. The business had revenue of $140.80 million during the quarter, compared to the consensus estimate of $151.32 million. During the same quarter last year, the firm earned $0.07 earnings per share. Hecla Mining’s quarterly revenue was down 21.5% on a year-over-year basis. analysts anticipate that Hecla Mining Company will post 0.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, November 21st were paid a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Monday, November 20th. Hecla Mining’s dividend payout ratio is presently 16.67%.
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About Hecla Mining
Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Company and its subsidiaries provide precious and base metals to the United States and around the world. It produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver.
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