Bayforest Capital Ltd Invests $116,000 in Hecla Mining Company $HL

Key Points

• Bayforest Capital Ltd invested approximately $116,000 in Hecla Mining Company by acquiring 19,329 shares in the second quarter.
• Hecla Mining's stock has seen a significant downturn, with shares down 8.6% recently, amidst a market cap of $9.33 billion.
• Equities analysts have mixed ratings on Hecla Mining, with two analysts rating it a "Buy" and one a "Sell", while others suggest a consensus rating of "Hold" and an average price target of $8.75.

Bayforest Capital Ltd bought a new position in shares of Hecla Mining Company (NYSE:HL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,329 shares of the basic materials company's stock, valued at approximately $116,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HL. Vanguard Group Inc. boosted its position in shares of Hecla Mining by 2.3% during the first quarter. Vanguard Group Inc. now owns 62,830,935 shares of the basic materials company's stock worth $349,340,000 after buying an additional 1,437,895 shares during the period. Dimensional Fund Advisors LP grew its position in Hecla Mining by 8.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 28,827,696 shares of the basic materials company's stock valued at $160,285,000 after acquiring an additional 2,306,239 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Hecla Mining by 12.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,124,216 shares of the basic materials company's stock worth $67,411,000 after purchasing an additional 1,366,700 shares in the last quarter. Pale Fire Capital SE purchased a new stake in Hecla Mining during the 1st quarter worth approximately $41,360,000. Finally, Invesco Ltd. grew its stake in shares of Hecla Mining by 62.3% in the first quarter. Invesco Ltd. now owns 4,442,667 shares of the basic materials company's stock worth $24,701,000 after acquiring an additional 1,705,994 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

Insider Transactions at Hecla Mining

In other news, VP Stuart Maurice Absolom sold 14,472 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $11.29, for a total value of $163,388.88. Following the sale, the vice president directly owned 73,200 shares in the company, valued at $826,428. This represents a 16.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.62% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Hecla Mining from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. CIBC boosted their target price on Hecla Mining from $12.50 to $15.00 and gave the stock a "neutral" rating in a research note on Friday, October 10th. Roth Capital set a $8.75 target price on shares of Hecla Mining and gave the company a "sell" rating in a report on Friday, October 3rd. BMO Capital Markets lifted their target price on Hecla Mining from $6.00 to $6.50 and gave the stock a "market perform" rating in a research report on Thursday, August 7th. Finally, HC Wainwright boosted 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. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $8.75.

Hecla Mining Stock Down 8.6%

Shares of NYSE:HL opened at $13.93 on Friday. 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 company has a market cap of $9.33 billion, a price-to-earnings ratio of 87.06 and a beta of 1.31. Hecla Mining Company has a fifty-two week low of $4.46 and a fifty-two week high of $15.44. The firm's 50-day simple moving average is $10.42 and its 200-day simple moving average is $7.32.

Hecla Mining (NYSE:HL - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $304.03 million during the quarter, compared to analysts' expectations of $248.93 million. Hecla Mining had a return on equity of 5.51% and a net margin of 9.55%.The company's quarterly revenue was up 23.8% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. As a group, equities research analysts predict that Hecla Mining Company will post 0.21 earnings per share for the current year.

Hecla Mining Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.1%. Hecla Mining's payout ratio is currently 6.25%.

Hecla Mining Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.