Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Hecla Mining Company (NYSE:HL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 107,228 shares of the basic materials company's stock, valued at approximately $1,655,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. bought a new position in Hecla Mining in the second quarter valued at about $239,000. Bank of Nova Scotia bought a new stake in shares of Hecla Mining during the second quarter worth about $12,349,000. Compass Financial Management LLC bought a new stake in shares of Hecla Mining during the second quarter worth about $148,000. Foyston Gordon & Payne Inc acquired a new position in shares of Hecla Mining in the second quarter valued at approximately $179,000. Finally, Quantbot Technologies LP acquired a new position in shares of Hecla Mining in the second quarter valued at approximately $754,000. Institutional investors and hedge funds own 63.01% of the company's stock.
Hecla Mining Price Performance
Shares of HL stock opened at $20.45 on Friday. The business's 50 day simple moving average is $16.59 and its 200 day simple moving average is $18.22. Hecla Mining Company has a one year low of $8.07 and a one year high of $34.17. The stock has a market capitalization of $13.74 billion, a PE ratio of 41.73 and a beta of 1.32.
Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share (EPS) 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%.The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 EPS. As a group, research analysts expect that Hecla Mining Company will post 0.46 earnings per share for the current year.
Hecla Mining Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be paid 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 Ratings Changes
HL has been the topic of several recent research reports. HC Wainwright cut their target price on shares of Hecla Mining from $36.50 to $26.75 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Scotiabank dropped their price target on shares of Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. Jefferies Financial Group began coverage on shares of Hecla Mining in a research note on Thursday, August 20th. They set a "hold" rating and a $22.00 price target for the company. Weiss Ratings upgraded shares of Hecla Mining from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Finally, Wall Street Zen cut shares of Hecla Mining from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $23.82.
Read Our Latest Stock Report on Hecla Mining
Hecla Mining Company Profile
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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.
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