Deutsche Bank AG Purchases New Position in Hecla Mining Company $HL

Key Points

• Deutsche Bank purchased 186,652 Hecla Mining shares during the second quarter, worth approximately $2.88 million. Institutional investors collectively own 63.01% of HL stock.
• Hecla Mining reported quarterly revenue of $333.85 million and EPS of $0.17, slightly below analyst expectations, although revenue increased 9.8% year over year.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and a $23.82 price target. The company also declared a quarterly dividend of $0.0038 per share.

Deutsche Bank AG purchased a new stake in shares of Hecla Mining Company (NYSE:HL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 186,652 shares of the basic materials company's stock, valued at approximately $2,880,000.

A number of other large investors have also added to or reduced their stakes in HL. U S Global Investors Inc. purchased a new position in shares of Hecla Mining in the 1st quarter worth approximately $1,397,000. Geode Capital Management LLC increased its position in Hecla Mining by 11.9% during the fourth quarter. Geode Capital Management LLC now owns 16,620,647 shares of the basic materials company's stock valued at $319,000,000 after acquiring an additional 1,770,949 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Hecla Mining in the fourth quarter valued at $88,417,000. Sigma Planning Corp raised its stake in shares of Hecla Mining by 395.4% in the first quarter. Sigma Planning Corp now owns 107,229 shares of the basic materials company's stock valued at $1,998,000 after acquiring an additional 85,583 shares during the period. Finally, Florida Financial Advisors LLC bought a new stake in shares of Hecla Mining in the 1st quarter worth about $1,669,000. Institutional investors own 63.01% of the company's stock.

Hecla Mining Price Performance

Shares of HL stock opened at $20.77 on Thursday. The company has a market capitalization of $13.95 billion, a P/E ratio of 42.39 and a beta of 1.32. The company's 50-day simple moving average is $16.39 and its two-hundred day simple moving average is $18.22. Hecla Mining Company has a one year low of $7.78 and a one year high of $34.17.

Hecla Mining (NYSE:HL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%. The firm had revenue of $333.85 million during the quarter, compared to analysts' expectations of $368.75 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. On average, research analysts expect that Hecla Mining Company will post 0.46 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be issued a $0.0038 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, August 26th. Hecla Mining's dividend payout ratio is currently 2.04%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HL. HC Wainwright dropped their price target on shares of Hecla Mining from $36.50 to $26.75 and set a "buy" rating for the company in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Hecla Mining from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. Zacks Research upgraded Hecla Mining to a "hold" rating in a research report on Friday, July 17th. Jefferies Financial Group began coverage on Hecla Mining in a research note on Thursday, August 20th. They set a "hold" rating and a $22.00 target price on the stock. Finally, Wall Street Zen downgraded Hecla Mining from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $23.82.

Hecla Mining Profile

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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