Proffitt & Goodson Inc. Purchases Shares of 6,100 Hecla Mining (NYSE:HL)

Proffitt & Goodson Inc. purchased a new stake in Hecla Mining (NYSE:HL) in the 1st quarter, Holdings Channel.com reports. The fund purchased 6,100 shares of the basic materials company’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new stake in shares of Hecla Mining during the 4th quarter worth $33,101,000. ETF Managers Group LLC boosted its position in Hecla Mining by 42.4% during the 4th quarter. ETF Managers Group LLC now owns 12,496,145 shares of the basic materials company’s stock worth $83,099,000 after purchasing an additional 3,718,534 shares during the period. Scout Investments Inc. boosted its position in Hecla Mining by 107.9% during the 1st quarter. Scout Investments Inc. now owns 5,628,748 shares of the basic materials company’s stock worth $32,028,000 after purchasing an additional 2,920,844 shares during the period. Van ECK Associates Corp boosted its position in Hecla Mining by 5.0% during the 4th quarter. Van ECK Associates Corp now owns 54,440,018 shares of the basic materials company’s stock worth $352,772,000 after purchasing an additional 2,577,824 shares during the period. Finally, Northern Trust Corp boosted its position in Hecla Mining by 35.9% during the 4th quarter. Northern Trust Corp now owns 8,549,104 shares of the basic materials company’s stock worth $55,399,000 after purchasing an additional 2,258,705 shares during the period. Institutional investors own 57.02% of the company’s stock.

A number of analysts recently weighed in on the stock. Roth Capital upped their price target on shares of Hecla Mining from $6.00 to $6.50 and gave the stock a “buy” rating in a research report on Friday, January 15th. Zacks Investment Research raised shares of Hecla Mining from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Tuesday. HC Wainwright upped their price objective on shares of Hecla Mining from $7.00 to $7.75 and gave the company a “buy” rating in a research report on Friday, May 7th. CIBC upped their price objective on shares of Hecla Mining from $6.75 to $7.50 and gave the company a “neutral” rating in a research report on Friday, May 7th. Finally, Canaccord Genuity reissued a “hold” rating on shares of Hecla Mining in a research report on Friday, April 9th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $6.71.

Shares of HL stock opened at $7.43 on Wednesday. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -148.60, a PEG ratio of 23.16 and a beta of 2.14. Hecla Mining has a one year low of $2.46 and a one year high of $8.45. The company’s 50-day simple moving average is $6.22 and its 200-day simple moving average is $5.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.18 and a current ratio of 1.88.

Hecla Mining (NYSE:HL) last released its quarterly earnings data on Thursday, May 6th. The basic materials company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $210.90 million for the quarter, compared to analyst estimates of $208.55 million. Hecla Mining had a negative net margin of 3.51% and a positive return on equity of 0.95%. Hecla Mining’s quarterly revenue was up 54.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) earnings per share. As a group, research analysts forecast that Hecla Mining will post 0.03 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 3rd. Shareholders of record on Thursday, May 20th will be paid a $0.011 dividend. The ex-dividend date of this dividend is Wednesday, May 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.59%. This is a positive change from Hecla Mining’s previous quarterly dividend of $0.01. Hecla Mining’s dividend payout ratio (DPR) is presently -30.77%.

About Hecla Mining

Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal properties in the United States and internationally. The company offers lead, zinc, and bulk concentrates, as well as carbon materials to custom smelters, metal traders, and third-party processors; and unrefined gold and silver bullion bars to precious metals traders.

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Institutional Ownership by Quarter for Hecla Mining (NYSE:HL)

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