Canada Pension Plan Investment Board Purchases Shares of 358,100 Hecla Mining Company $HL

Key Points

• The Canada Pension Plan Investment Board has acquired a new stake in Hecla Mining Company, purchasing 358,100 shares valued at approximately $1.99 million.
• Hecla Mining recently reported earnings of $0.08 per share, exceeding estimates and showing a 23.8% increase in quarterly revenue year-over-year.
• The company announced a quarterly dividend of $0.0038 per share, with a yield of 0.2% and a dividend payout ratio of 6.25%.

Canada Pension Plan Investment Board acquired a new position in Hecla Mining Company (NYSE:HL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 358,100 shares of the basic materials company's stock, valued at approximately $1,991,000. Canada Pension Plan Investment Board owned about 0.06% of Hecla Mining at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Hecla Mining by 13.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,883 shares of the basic materials company's stock valued at $93,000 after acquiring an additional 2,169 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Hecla Mining by 10.7% in the 4th quarter. Ameriprise Financial Inc. now owns 25,370 shares of the basic materials company's stock worth $125,000 after buying an additional 2,457 shares in the last quarter. Xponance Inc. grew its position in Hecla Mining by 5.9% in the first quarter. Xponance Inc. now owns 45,092 shares of the basic materials company's stock valued at $251,000 after acquiring an additional 2,525 shares during the period. Choreo LLC raised its stake in Hecla Mining by 16.3% during the first quarter. Choreo LLC now owns 21,561 shares of the basic materials company's stock worth $120,000 after acquiring an additional 3,018 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Hecla Mining during the first quarter worth $31,000. 63.01% of the stock is owned by institutional investors.

Hecla Mining Trading Up 7.6%

Shares of HL stock traded up $0.78 during trading hours on Wednesday, reaching $10.96. The company had a trading volume of 33,505,598 shares, compared to its average volume of 21,393,338. Hecla Mining Company has a 1-year low of $4.46 and a 1-year high of $11.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 1.99. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 68.47 and a beta of 1.29. The company has a 50 day moving average of $7.16 and a 200 day moving average of $6.09.

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

Hecla Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 22nd were issued a dividend of $0.0038 per share. The ex-dividend date was Friday, August 22nd. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.1%. Hecla Mining's dividend payout ratio (DPR) is presently 6.25%.

Analysts Set New Price Targets

Several brokerages have recently commented on HL. National Bankshares set a $7.00 target price on Hecla Mining in a report on Friday, June 13th. National Bank Financial upgraded Hecla Mining to a "hold" rating in a report on Thursday, June 12th. CIBC lifted their price target on Hecla Mining from $7.50 to $8.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of Hecla Mining from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, BMO Capital Markets increased their price objective on shares of Hecla Mining from $6.00 to $6.50 and gave the stock a "market perform" rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $7.36.

About Hecla Mining

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.