Van ECK Associates Corp Grows Holdings in Hecla Mining Company (HL)
Van ECK Associates Corp raised its position in Hecla Mining Company (NYSE:HL) by 1.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 38,531,381 shares of the basic materials company’s stock after acquiring an additional 426,023 shares during the period. Hecla Mining comprises 1.0% of Van ECK Associates Corp’s portfolio, making the stock its 22nd biggest position. Van ECK Associates Corp owned about 9.66% of Hecla Mining worth $193,428,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Yorktown Management & Research Co Inc bought a new stake in shares of Hecla Mining during the 3rd quarter worth approximately $348,000. Ninepoint Partners LP bought a new stake in shares of Hecla Mining during the 3rd quarter worth approximately $3,006,000. SG Americas Securities LLC raised its stake in shares of Hecla Mining by 37.0% during the 3rd quarter. SG Americas Securities LLC now owns 200,417 shares of the basic materials company’s stock worth $1,006,000 after purchasing an additional 54,147 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Hecla Mining by 5.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,464,602 shares of the basic materials company’s stock worth $22,413,000 after purchasing an additional 224,827 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Hecla Mining by 4.5% during the 3rd quarter. New York State Common Retirement Fund now owns 420,700 shares of the basic materials company’s stock worth $2,112,000 after purchasing an additional 18,200 shares in the last quarter. Hedge funds and other institutional investors own 59.35% of the company’s stock.
In related news, Director George R. Nethercutt, Jr. sold 62,500 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $5.24, for a total value of $327,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by corporate insiders.
Hecla Mining Company (HL) traded down $0.04 on Thursday, reaching $3.88. The company had a trading volume of 3,437,000 shares, compared to its average volume of 5,667,437. Hecla Mining Company has a twelve month low of $3.63 and a twelve month high of $6.78. The company has a current ratio of 2.69, a quick ratio of 2.15 and a debt-to-equity ratio of 0.34. The company has a market cap of $1,564.15, a PE ratio of 56.00, a PEG ratio of 78.40 and a beta of 0.31.
Hecla Mining (NYSE:HL) last posted its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Hecla Mining had a return on equity of 1.89% and a net margin of 4.21%. The business had revenue of $140.80 million for the quarter, compared to analysts’ expectations of $151.32 million. During the same quarter in the prior year, the business earned $0.07 EPS. The firm’s revenue for the quarter was down 21.5% on a year-over-year basis. analysts predict that Hecla Mining Company will post 0.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 21st will be paid a $0.0025 dividend. This represents a $0.01 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Monday, November 20th. Hecla Mining’s dividend payout ratio (DPR) is presently 16.67%.
HL has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $8.50 price objective on shares of Hecla Mining in a research note on Friday, November 3rd. Canaccord Genuity upgraded Hecla Mining from a “hold” rating to a “buy” rating and set a $5.25 price target on the stock in a research note on Tuesday, November 14th. TheStreet cut Hecla Mining from a “b-” rating to a “c” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Hecla Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, BMO Capital Markets restated a “hold” rating and issued a $6.00 price target on shares of Hecla Mining in a research note on Wednesday, September 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $6.27.
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Hecla Mining Company Profile
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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