BlackRock Inc. purchased a new position in Hecla Mining Company (NYSE:HL - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 70,368,033 shares of the basic materials company's stock, valued at approximately $1,085,779,000. BlackRock Inc. owned approximately 10.48% of Hecla Mining as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in HL. Deutsche Bank AG acquired a new position in Hecla Mining in the second quarter valued at approximately $2,880,000. Perigon Wealth Management LLC bought a new position in Hecla Mining in the 2nd quarter valued at about $169,000. Trust Co. of Vermont acquired a new position in Hecla Mining during the 2nd quarter valued at about $39,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Hecla Mining during the 2nd quarter worth about $46,000. Finally, Persistent Asset Partners Ltd bought a new stake in shares of Hecla Mining during the 2nd quarter worth about $60,000. Institutional investors and hedge funds own 63.01% of the company's stock.
Hecla Mining Stock Down 0.2%
Shares of Hecla Mining stock opened at $20.78 on Friday. Hecla Mining Company has a 12-month low of $7.57 and a 12-month high of $34.17. The stock has a market capitalization of $13.96 billion, a P/E ratio of 42.41 and a beta of 1.32. The company has a 50-day simple moving average of $16.14 and a 200 day simple moving average of $18.28.
Hecla Mining (NYSE:HL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $333.85 million for the quarter, compared to the consensus estimate of $368.75 million. Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%.Hecla Mining's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 earnings per share. On average, equities analysts anticipate that Hecla Mining Company will post 0.46 earnings per share for the current year.
Hecla Mining Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be issued a dividend of $0.0038 per share. This represents a $0.01 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, August 26th. Hecla Mining's dividend payout ratio (DPR) is currently 2.04%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on HL. Scotiabank reduced their target price on shares of Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. HC Wainwright dropped their price objective on shares of Hecla Mining from $36.50 to $26.75 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Jefferies Financial Group began coverage on shares of Hecla Mining in a research note on Thursday. They issued a "hold" rating and a $22.00 target price for the company. Weiss Ratings upgraded Hecla Mining from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. Finally, Zacks Research upgraded Hecla Mining to a "hold" rating in a research note on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $23.82.
View Our Latest Stock Analysis on HL
Hecla Mining Profile
(
Free Report)
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.
See Also
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