Bank of New York Mellon Corp reduced its position in Hecla Mining (NYSE:HL) by 7.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,449,907 shares of the basic materials company’s stock after selling 450,155 shares during the period. Bank of New York Mellon Corp owned about 1.14% of Hecla Mining worth $18,965,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its stake in shares of Hecla Mining by 13,731.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 48,273 shares of the basic materials company’s stock valued at $168,000 after buying an additional 47,924 shares during the period. GAM Holding AG purchased a new stake in shares of Hecla Mining during the 2nd quarter valued at $186,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Hecla Mining during the 2nd quarter valued at $208,000. Stevens Capital Management LP purchased a new stake in shares of Hecla Mining during the 2nd quarter valued at $219,000. Finally, OppenheimerFunds Inc. purchased a new stake in shares of Hecla Mining during the 2nd quarter valued at $661,000. 59.07% of the stock is owned by hedge funds and other institutional investors.
NYSE:HL opened at $2.38 on Monday. The company has a current ratio of 1.50, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.14 billion, a P/E ratio of 23.80 and a beta of 0.41. Hecla Mining has a twelve month low of $2.17 and a twelve month high of $4.63.
Hecla Mining (NYSE:HL) last posted its earnings results on Thursday, November 8th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). The business had revenue of $143.70 million for the quarter, compared to analyst estimates of $149.34 million. Hecla Mining had a negative net margin of 5.18% and a positive return on equity of 0.60%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 EPS. Sell-side analysts forecast that Hecla Mining will post -0.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Tuesday, November 20th will be issued a dividend of $0.0025 per share. The ex-dividend date is Monday, November 19th. This represents a $0.01 annualized dividend and a dividend yield of 0.42%. Hecla Mining’s payout ratio is 10.00%.
Several analysts have recently issued reports on the stock. HC Wainwright set a $7.00 price objective on shares of Hecla Mining and gave the company a “buy” rating in a research note on Friday, November 9th. ValuEngine raised shares of Hecla Mining from a “strong sell” rating to a “sell” rating in a research note on Monday, September 17th. BMO Capital Markets reissued a “hold” rating and set a $3.50 price objective (down from $4.00) on shares of Hecla Mining in a research note on Thursday, August 9th. Canaccord Genuity upgraded shares of Hecla Mining from a “sell” rating to a “hold” rating in a report on Friday, November 9th. Finally, Zacks Investment Research upgraded shares of Hecla Mining from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 20th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $4.64.
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Hecla Mining 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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