CenterBook Partners LP Purchases Shares of 1,514,300 Hecla Mining Company (NYSE:HL)

Key Points

• CenterBook Partners LP has acquired a new stake in Hecla Mining Company, purchasing 1,514,300 shares valued at approximately $8.42 million, which represents 0.24% ownership of the company.
• Institutional investors currently hold 63.01% of Hecla Mining's stock, with notable changes from firms like Vanguard Group and J. Safra Sarasin Holding AG during the first quarter of the year.
• Hecla Mining recently reported EPS of $0.08 for the quarter, surpassing analyst expectations, alongside a 23.8% year-over-year revenue increase to $304.03 million.

CenterBook Partners LP bought a new stake 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 & Exchange Commission. The firm bought 1,514,300 shares of the basic materials company's stock, valued at approximately $8,420,000. CenterBook Partners LP owned approximately 0.24% of Hecla Mining at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HL. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Hecla Mining in the first quarter valued at $31,000. PFG Investments LLC purchased a new stake in shares of Hecla Mining in the 1st quarter valued at about $56,000. Hohimer Wealth Management LLC purchased a new stake in Hecla Mining during the 1st quarter valued at approximately $58,000. CIBC Private Wealth Group LLC purchased a new stake in Hecla Mining during the 4th quarter valued at approximately $60,000. Finally, Abel Hall LLC purchased a new position in shares of Hecla Mining during the 1st quarter worth approximately $64,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

Hecla Mining Stock Down 1.4%

NYSE:HL traded down $0.11 during mid-day trading on Monday, reaching $7.50. The stock had a trading volume of 11,790,807 shares, compared to its average volume of 21,069,896. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 46.97 and a beta of 1.27. Hecla Mining Company has a 1-year low of $4.46 and a 1-year high of $7.68. The stock's 50 day simple moving average is $6.06 and its two-hundred day simple moving average is $5.67. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 1.99.

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, topping analysts' consensus estimates of $0.05 by $0.03. Hecla Mining had a return on equity of 5.51% and a net margin of 9.55%. The business had revenue of $304.03 million during the quarter, compared to the consensus estimate of $248.93 million. During the same period last year, the firm earned $0.02 earnings per share. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. Equities analysts anticipate that Hecla Mining Company will post 0.21 EPS for the current year.

Hecla Mining Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd will be paid a $0.0038 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, August 22nd. Hecla Mining's payout ratio is presently 6.25%.

Analysts Set New Price Targets

A number of brokerages have commented on HL. National Bank Financial upgraded Hecla Mining to a "hold" rating in a report on Thursday, June 12th. CIBC increased their price target on Hecla Mining from $7.50 to $8.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Wall Street Zen raised Hecla Mining from a "hold" rating to a "buy" rating in a research report on Saturday. HC Wainwright raised their price objective on Hecla Mining from $11.50 to $12.50 and gave the company a "buy" rating in a research report on Thursday. Finally, Roth Capital reissued a "neutral" rating on shares of Hecla Mining in a research report on Thursday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Hecla Mining currently has an average rating of "Hold" and an average target price of $7.36.

Insider Buying and Selling

In other Hecla Mining news, VP Stuart Maurice Absolom sold 18,926 shares of Hecla Mining stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $6.66, for a total value of $126,047.16. Following the completion of the transaction, the vice president directly owned 59,410 shares in the company, valued at $395,670.60. The trade was a 24.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.62% of the stock is currently owned by insiders.

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.