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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tidal Investments LLC raised its position in Hecla Mining by 100.5% in the fourth quarter. Tidal Investments LLC now owns 15,885,647 shares of the basic materials company's stock valued at $77,999,000 after purchasing an additional 7,960,826 shares during the period. Pale Fire Capital SE purchased a new stake in Hecla Mining during the 1st quarter worth about $41,360,000. Nuveen LLC purchased a new stake in Hecla Mining during the 1st quarter worth about $18,410,000. MetLife Investment Management LLC increased its holdings in Hecla Mining by 869.3% during the 1st quarter. MetLife Investment Management LLC now owns 3,274,065 shares of the basic materials company's stock worth $18,204,000 after purchasing an additional 2,936,288 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Hecla Mining by 8.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 28,827,696 shares of the basic materials company's stock worth $160,285,000 after purchasing an additional 2,306,239 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on HL shares. National Bankshares set a $7.00 price objective on Hecla Mining in a research report on Friday, June 13th. Roth Capital reaffirmed a "neutral" rating on shares of Hecla Mining in a research report on Thursday, August 7th. Wall Street Zen raised Hecla Mining from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. CIBC upped their price objective on Hecla Mining from $7.50 to $8.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Finally, National Bank Financial raised Hecla Mining to a "hold" rating in a research report on Thursday, June 12th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $7.36.

Hecla Mining Stock Performance

HL traded up $0.15 on Friday, hitting $11.30. 16,655,666 shares of the company traded hands, compared to its average volume of 21,413,977. The company has a 50 day moving average of $7.26 and a 200-day moving average of $6.13. The company has a quick ratio of 1.99, a current ratio of 2.67 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $7.57 billion, a PE ratio of 70.60 and a beta of 1.29. Hecla Mining Company has a 12-month low of $4.46 and a 12-month high of $11.51.

Hecla Mining (NYSE:HL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $304.03 million during the quarter, compared to the consensus estimate of $248.93 million. Hecla Mining had a return on equity of 5.51% and a net margin of 9.55%.The firm's revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 EPS. Sell-side analysts anticipate that Hecla Mining Company will post 0.21 earnings per share for the current year.

Hecla Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.0038 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $0.02 annualized dividend and a yield of 0.1%. Hecla Mining's dividend payout ratio is currently 6.25%.

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.