Hecla Mining Company $HL Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp raised its stake in Hecla Mining Company (NYSE:HL) by 4,543.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 148,511 shares of the basic materials company’s stock after purchasing an additional 145,313 shares during the period. Fifth Third Bancorp’s holdings in Hecla Mining were worth $2,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. U S Global Investors Inc. purchased a new position in Hecla Mining during the 1st quarter worth $1,397,000. Hsbc Holdings PLC grew its holdings in shares of Hecla Mining by 285.7% during the first quarter. Hsbc Holdings PLC now owns 173,583 shares of the basic materials company’s stock worth $3,211,000 after buying an additional 128,583 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Hecla Mining during the first quarter worth about $764,000. Oregon Public Employees Retirement Fund increased its position in Hecla Mining by 3.1% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 137,400 shares of the basic materials company’s stock valued at $2,560,000 after acquiring an additional 4,100 shares during the period. Finally, Cvfg LLC acquired a new position in Hecla Mining in the 1st quarter valued at about $4,155,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Hecla Mining Stock Down 0.1%

HL opened at $14.31 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.94 and a quick ratio of 4.53. Hecla Mining Company has a 12 month low of $5.62 and a 12 month high of $34.17. The stock has a market capitalization of $9.60 billion, a P/E ratio of 34.92 and a beta of 1.29. The business has a 50 day simple moving average of $16.25 and a 200-day simple moving average of $19.59.

Hecla Mining (NYSE:HL) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Hecla Mining had a return on equity of 16.89% and a net margin of 17.41%.The business had revenue of $411.43 million for the quarter, compared to analyst estimates of $407.63 million. During the same period in the prior year, the company earned $0.04 EPS. The company’s revenue was up 57.4% on a year-over-year basis. On average, equities analysts anticipate that Hecla Mining Company will post 0.47 earnings per share for the current fiscal year.

Hecla Mining Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were issued a $0.0038 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Friday, May 22nd. Hecla Mining’s dividend payout ratio (DPR) is currently 2.44%.

Analysts Set New Price Targets

HL has been the subject of a number of recent research reports. HC Wainwright decreased their price objective on Hecla Mining from $36.50 to $26.75 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Scotiabank dropped their target price on Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Wall Street Zen cut Hecla Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded Hecla Mining from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, June 5th. Finally, Canaccord Genuity Group raised Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.12.

Hecla Mining Company Profile

Hecla Mining Company, founded in 1891 and headquartered in Coeur d’Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d’Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.

The company’s principal operations are located in North America and Latin America.