Hecla Mining (NYSE:HL) issued its quarterly earnings data on Thursday. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01), Morningstar.com reports. Hecla Mining had a positive return on equity of 2.91% and a negative net margin of 1.02%. The business had revenue of $143.70 million during the quarter, compared to analysts’ expectations of $149.34 million. During the same quarter last year, the business posted $0.04 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis.
Shares of HL traded down $0.02 during trading hours on Friday, hitting $2.43. The company had a trading volume of 4,944,178 shares, compared to its average volume of 4,767,099. The company has a market cap of $1.19 billion, a P/E ratio of 24.30, a P/E/G ratio of 155.63 and a beta of 0.41. The company has a current ratio of 3.35, a quick ratio of 2.77 and a debt-to-equity ratio of 0.36. Hecla Mining has a 52-week low of $2.17 and a 52-week high of $4.63.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Tuesday, November 20th will be issued a $0.0025 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.01 annualized dividend and a dividend yield of 0.41%. Hecla Mining’s dividend payout ratio is currently 10.00%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HL. BlackRock Inc. increased its holdings in shares of Hecla Mining by 16.2% in the third quarter. BlackRock Inc. now owns 32,513,553 shares of the basic materials company’s stock worth $90,712,000 after buying an additional 4,525,664 shares during the period. Van ECK Associates Corp increased its holdings in shares of Hecla Mining by 7.4% in the second quarter. Van ECK Associates Corp now owns 44,849,502 shares of the basic materials company’s stock worth $156,076,000 after buying an additional 3,102,585 shares during the period. CI Investments Inc. purchased a new position in shares of Hecla Mining in the third quarter worth about $7,332,000. Global X Management Co LLC increased its holdings in shares of Hecla Mining by 34.1% in the second quarter. Global X Management Co LLC now owns 5,639,768 shares of the basic materials company’s stock worth $19,626,000 after buying an additional 1,435,562 shares during the period. Finally, Congress Asset Management Co. MA purchased a new position in shares of Hecla Mining in the third quarter worth about $3,428,000. Hedge funds and other institutional investors own 51.90% of the company’s stock.
A number of equities research analysts have weighed in on the company. HC Wainwright set a $7.00 price target on Hecla Mining and gave the company a “buy” rating in a research report on Friday. ValuEngine upgraded Hecla Mining from a “strong sell” rating to a “sell” rating in a research report on Monday, September 17th. BMO Capital Markets restated a “hold” rating and set a $3.50 price target (down previously from $4.00) on shares of Hecla Mining in a research report on Thursday, August 9th. Canaccord Genuity upgraded Hecla Mining from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Zacks Investment Research upgraded Hecla Mining from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $4.61.
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Hecla Mining Company Profile
Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal deposits worldwide. The company offers zinc, lead, and bulk flotation concentrates to custom smelters and brokers; and unrefined gold and silver bullion bars to precious metals traders.
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