Hecla Mining Company (HL) Short Interest Update
Hecla Mining Company (NYSE:HL) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 13,045,444 shares, a decline of 29.3% from the July 14th total of 18,444,535 shares. Based on an average daily trading volume, of 3,500,383 shares, the short-interest ratio is currently 3.7 days. Approximately 3.3% of the company’s shares are short sold.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its position in Hecla Mining by 27.8% in the first quarter. Ameriprise Financial Inc. now owns 20,159 shares of the basic materials company’s stock worth $106,000 after buying an additional 4,384 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Hecla Mining during the second quarter valued at $124,000. Eqis Capital Management Inc. purchased a new stake in shares of Hecla Mining during the first quarter valued at $144,000. Pacad Investment Ltd. boosted its stake in shares of Hecla Mining by 10.4% in the second quarter. Pacad Investment Ltd. now owns 27,500 shares of the basic materials company’s stock valued at $140,000 after buying an additional 2,600 shares in the last quarter. Finally, Advisor Group Inc. boosted its stake in shares of Hecla Mining by 148.1% in the second quarter. Advisor Group Inc. now owns 27,741 shares of the basic materials company’s stock valued at $142,000 after buying an additional 16,561 shares in the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on HL. Royal Bank Of Canada reaffirmed a “hold” rating and set a $6.00 price target on shares of Hecla Mining in a research report on Tuesday, May 30th. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of Hecla Mining in a research note on Sunday, June 25th. TheStreet upgraded shares of Hecla Mining from a “c+” rating to a “b” rating in a research note on Monday, June 12th. Zacks Investment Research downgraded shares of Hecla Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, BidaskClub downgraded shares of Hecla Mining from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Hecla Mining has an average rating of “Hold” and an average target price of $6.94.
Hecla Mining (HL) opened at 4.87 on Tuesday. The company has a 50-day moving average of $5.16 and a 200-day moving average of $5.51. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 39.59 and a beta of 0.44. Hecla Mining has a 12 month low of $4.61 and a 12 month high of $7.64.
Hecla Mining (NYSE:HL) last released its quarterly earnings results on Thursday, August 3rd. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.05. Hecla Mining had a net margin of 7.88% and a return on equity of 2.56%. The business had revenue of $134.30 million during the quarter, compared to the consensus estimate of $130.54 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The business’s quarterly revenue was down 21.6% compared to the same quarter last year. Analysts predict that Hecla Mining will post $0.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Wednesday, August 23rd will be issued a $0.0025 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.21%. Hecla Mining’s dividend payout ratio is 7.69%.
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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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