Bank of New York Mellon Corp Buys New Position in Hecla Mining Company $HL

Bank of New York Mellon Corp purchased a new position in Hecla Mining Company (NYSE:HL - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 4,155,822 shares of the basic materials company's stock, valued at approximately $64,124,000. Bank of New York Mellon Corp owned 0.62% of Hecla Mining as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HL. U S Global Investors Inc. acquired a new position in Hecla Mining during the 1st quarter valued at about $1,397,000. Geode Capital Management LLC boosted its stake in shares of Hecla Mining by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 16,620,647 shares of the basic materials company's stock valued at $319,000,000 after purchasing an additional 1,770,949 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Hecla Mining during the 4th quarter worth approximately $88,417,000. Sigma Planning Corp grew its position in shares of Hecla Mining by 395.4% during the 1st quarter. Sigma Planning Corp now owns 107,229 shares of the basic materials company's stock worth $1,998,000 after buying an additional 85,583 shares during the period. Finally, Florida Financial Advisors LLC bought a new stake in shares of Hecla Mining during the first quarter worth approximately $1,669,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Scotiabank reduced their price objective on shares of Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Wall Street Zen cut shares of Hecla Mining from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. HC Wainwright cut their price target on Hecla Mining from $36.50 to $26.75 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Zacks Research upgraded Hecla Mining to a "hold" rating in a research report on Friday, July 17th. Finally, Jefferies Financial Group assumed coverage on Hecla Mining in a research note on Thursday, August 20th. They set a "hold" rating and a $22.00 price objective for the company. Two 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $23.82.

Hecla Mining Trading Down 0.7%

NYSE:HL opened at $20.77 on Thursday. Hecla Mining Company has a 1 year low of $7.78 and a 1 year high of $34.17. The stock has a market cap of $13.95 billion, a price-to-earnings ratio of 42.39 and a beta of 1.32. The stock has a 50-day moving average price of $16.39 and a two-hundred day moving average price of $18.22.

Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.17 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $368.75 million. During the same period in the prior year, the business earned $0.09 EPS. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts forecast that Hecla Mining Company will post 0.46 earnings per share for the current year.

Hecla Mining Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be issued a $0.0038 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, August 26th. Hecla Mining's dividend payout ratio is 2.04%.

Hecla Mining 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.

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