Bank of America Corp DE Makes New $17.50 Million Investment in Hecla Mining Company $HL

Key Points

• Bank of America purchased 1.13 million Hecla Mining shares in the second quarter, valued at approximately $17.5 million, giving it a 0.17% stake.
• Institutional investors own 63.01% of Hecla Mining. Analysts maintain a consensus “Hold” rating, with an average price target of $23.34.
• Hecla reported quarterly EPS of $0.17, slightly below expectations, while revenue rose 9.8% year over year to $333.85 million. The company also declared a quarterly dividend of $0.0037 per share.

Bank of America Corp DE purchased a new position in shares of Hecla Mining Company (NYSE:HL - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,134,202 shares of the basic materials company's stock, valued at approximately $17,501,000. Bank of America Corp DE owned 0.17% of Hecla Mining at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC increased its holdings in shares of Hecla Mining by 26.9% in the 1st quarter. Root Financial Partners LLC now owns 2,540 shares of the basic materials company's stock valued at $47,000 after purchasing an additional 538 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of Hecla Mining by 4.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 16,844 shares of the basic materials company's stock valued at $314,000 after buying an additional 722 shares during the period. Rothschild Investment LLC lifted its stake in shares of Hecla Mining by 93.5% during the fourth quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company's stock valued at $31,000 after buying an additional 781 shares during the period. XML Financial LLC boosted its position in Hecla Mining by 7.1% during the first quarter. XML Financial LLC now owns 12,100 shares of the basic materials company's stock worth $225,000 after acquiring an additional 800 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in Hecla Mining by 5.3% during the first quarter. Ritholtz Wealth Management now owns 17,271 shares of the basic materials company's stock worth $322,000 after acquiring an additional 876 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings upgraded Hecla Mining from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, September 8th. Jefferies Financial Group began coverage on Hecla Mining in a report on Thursday, August 20th. They set a "hold" rating and a $22.00 price objective on the stock. Zacks Research raised Hecla Mining to a "hold" rating in a research report on Friday, July 17th. Royal Bank Of Canada dropped their target price on Hecla Mining from $24.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, September 16th. Finally, Scotiabank reduced their target price on Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 14th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $23.34.

Hecla Mining Stock Performance

NYSE HL opened at $17.94 on Friday. The firm has a market capitalization of $12.05 billion, a price-to-earnings ratio of 36.61 and a beta of 1.38. Hecla Mining Company has a one year low of $11.07 and a one year high of $34.17. The company's 50 day moving average price is $18.10 and its 200 day moving average price is $17.75.

Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%.The business had revenue of $333.85 million during the quarter, compared to analyst estimates of $368.75 million. During the same period in the previous year, the company earned $0.09 EPS. Hecla Mining's revenue was up 9.8% on a year-over-year basis. Sell-side analysts forecast that Hecla Mining Company will post 0.46 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th were given a dividend of $0.0037 per share. The ex-dividend date of this dividend was Wednesday, August 26th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.1%. Hecla Mining's dividend payout ratio (DPR) is presently 2.04%.

Hecla Mining Profile

Hecla Mining Company NYSE: HL is a precious and base metals mining company focused primarily on the exploration, development, and production of silver, gold, lead, and zinc. The company sells concentrates and refined metals produced from its mining operations and also maintains a portfolio of exploration and development properties.

Founded in 1891, Hecla is one of the oldest U.S.-based mining companies. Its operating portfolio has included the Greens Creek silver, gold, lead, and zinc mine near Juneau, Alaska; the Lucky Friday silver, lead, and zinc mine in Idaho; the Keno Hill silver district in Yukon, Canada; and the Casa Berardi gold mine in Quebec, Canada.

Through these operations and related exploration activities, Hecla serves the North American metals market, with production and mineral assets located in the United States and Canada.

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