Aristeia Capital L.L.C. Takes Position in Hecla Mining Company $HL

Key Points

• Aristeia Capital L.L.C. has made a new investment of $333,000 in Hecla Mining Company, acquiring 59,908 shares during the first quarter.
• Multiple institutional investors, including Focus Partners and Ameriprise Financial, have increased their stakes in Hecla Mining, with institutional ownership at 63.01%.
• Hecla Mining reported a quarterly earnings beat, posting a profit of $0.08 EPS and a revenue of $304.03 million, surpassing analysts' expectations for both metrics.

Aristeia Capital L.L.C. acquired a new position in Hecla Mining Company (NYSE:HL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 59,908 shares of the basic materials company's stock, valued at approximately $333,000.

Several other institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Hecla Mining during the 1st quarter worth approximately $31,000. DRW Securities LLC acquired a new position in Hecla Mining in the first quarter valued at approximately $54,000. PFG Investments LLC purchased a new position in shares of Hecla Mining during the 1st quarter worth approximately $56,000. Hohimer Wealth Management LLC acquired a new stake in Hecla Mining in the 1st quarter valued at approximately $58,000. Finally, CTC Alternative Strategies Ltd. purchased a new stake in shares of Hecla Mining in the 4th quarter valued at $59,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Hecla Mining Stock Performance

Shares of HL stock traded up $0.78 during mid-day trading on Wednesday, hitting $10.96. 33,505,598 shares of the stock were exchanged, compared to its average volume of 21,358,346. The stock's fifty day simple moving average is $7.06 and its two-hundred day simple moving average is $6.05. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of 68.47 and a beta of 1.29. Hecla Mining Company has a 12-month low of $4.46 and a 12-month high of $11.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.99 and a current ratio of 2.67.

Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. Hecla Mining had a return on equity of 5.51% and a net margin of 9.55%.The firm had revenue of $304.03 million for the quarter, compared to analyst estimates of $248.93 million. During the same quarter last year, the company posted $0.02 earnings per share. The business's revenue was up 23.8% on a year-over-year basis. On average, analysts forecast that Hecla Mining Company will post 0.21 EPS for the current year.

Hecla Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 22nd were given a $0.0038 dividend. The ex-dividend date was Friday, August 22nd. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. Hecla Mining's dividend payout ratio (DPR) is presently 6.25%.

Analyst Ratings Changes

Several brokerages have recently issued reports on HL. National Bank Financial raised shares of Hecla Mining to a "hold" rating in a research report on Thursday, June 12th. National Bankshares set a $7.00 target price on shares of Hecla Mining in a report on Friday, June 13th. HC Wainwright increased their price objective on Hecla Mining from $11.50 to $12.50 and gave the company a "buy" rating in a research note on Thursday, August 7th. CIBC increased their price objective on Hecla Mining from $7.50 to $8.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Finally, Roth Capital restated a "neutral" rating on shares of Hecla Mining in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Hecla Mining currently has a consensus rating of "Hold" and an average price target of $7.36.

Hecla Mining Profile

Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States, Canada, Japan, Korea, and China. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for custom smelters, metal traders, and third-party processors; and doré containing silver and gold.