Comerica Bank Purchases Shares of 533,124 Hecla Mining Company $HL

Key Points

• Comerica Bank has acquired a new position in Hecla Mining Company, purchasing 533,124 shares valued at approximately $2,964,000 in the first quarter of the year.
• Hecla Mining announced a quarterly dividend of $0.0038, with a dividend yield of 0.2%, set to be paid on September 4th to stockholders of record on August 22nd.
• Hecla Mining reported a 23.8% year-over-year revenue increase, with earnings per share of $0.08, surpassing analysts' expectations of $0.05.

Comerica Bank acquired a new stake in shares of Hecla Mining Company (NYSE:HL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 533,124 shares of the basic materials company's stock, valued at approximately $2,964,000. Comerica Bank owned about 0.08% of Hecla Mining at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. MetLife Investment Management LLC boosted its holdings in Hecla Mining by 869.3% during the first quarter. MetLife Investment Management LLC now owns 3,274,065 shares of the basic materials company's stock worth $18,204,000 after purchasing an additional 2,936,288 shares during the last quarter. Pale Fire Capital SE purchased a new position in Hecla Mining during the first quarter worth about $41,360,000. Martingale Asset Management L P purchased a new position in Hecla Mining during the first quarter worth about $187,000. New Harbor Financial Group LLC boosted its holdings in Hecla Mining by 40.6% during the first quarter. New Harbor Financial Group LLC now owns 20,788 shares of the basic materials company's stock worth $116,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Tradition Wealth Management LLC purchased a new position in Hecla Mining during the first quarter worth about $62,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HL has been the topic of a number of research analyst reports. Roth Capital reiterated a "neutral" rating on shares of Hecla Mining in a research note on Thursday, August 7th. CIBC boosted their price target on shares of Hecla Mining from $7.50 to $8.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. HC Wainwright upped their target price on shares of Hecla Mining from $11.50 to $12.50 and gave the stock a "buy" rating in a report on Thursday, August 7th. National Bankshares set a $7.00 target price on shares of Hecla Mining in a report on Friday, June 13th. Finally, Wall Street Zen raised shares of Hecla Mining from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Hecla Mining has a consensus rating of "Hold" and a consensus target price of $7.36.

Hecla Mining Price Performance

Shares of NYSE:HL traded up $0.07 during trading on Wednesday, reaching $8.99. The company had a trading volume of 27,891,190 shares, compared to its average volume of 21,024,137. The company has a fifty day moving average of $6.71 and a two-hundred day moving average of $5.92. The stock has a market capitalization of $6.02 billion, a P/E ratio of 56.16 and a beta of 1.29. Hecla Mining Company has a 12 month low of $4.46 and a 12 month high of $9.08. The company has a current ratio of 2.67, a quick ratio of 1.99 and a debt-to-equity ratio of 0.23.

Hecla Mining (NYSE:HL - Get Free Report) last issued 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. The firm 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 business's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.02 EPS. Equities research analysts forecast that Hecla Mining Company will post 0.21 earnings per share for the current year.

Hecla Mining Announces Dividend

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

Insider Activity

In other news, VP Stuart Maurice Absolom sold 18,926 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $6.66, for a total value of $126,047.16. Following the completion of the sale, the vice president owned 59,410 shares of the company's stock, valued at approximately $395,670.60. This represents a 24.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company's stock.

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.