Florida Financial Advisors LLC Makes New $1.67 Million Investment in Hecla Mining Company $HL

Key Points

• Florida Financial Advisors LLC bought a new stake in Hecla Mining during the first quarter, purchasing 89,598 shares valued at about $1.67 million.
• Hecla Mining reported quarterly earnings of $0.24 per share, missing estimates by $0.03, though revenue came in at $411.4 million and rose 57.4% year over year.
• Analysts remain cautious overall: Hecla has a Hold consensus rating with an average price target of $24.12, while the stock recently traded near $14.31.

Florida Financial Advisors LLC purchased a new stake in Hecla Mining Company (NYSE:HL - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 89,598 shares of the basic materials company's stock, valued at approximately $1,669,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HL. Lodestone Wealth Management LLC purchased a new stake in shares of Hecla Mining during the fourth quarter worth approximately $28,000. Quadrant Capital Group LLC lifted its stake in Hecla Mining by 74.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company's stock worth $28,000 after acquiring an additional 631 shares during the last quarter. Sittner & Nelson LLC purchased a new position in Hecla Mining in the fourth quarter worth approximately $29,000. Rothschild Investment LLC grew its holdings in Hecla Mining by 93.5% during the 4th quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company's stock worth $31,000 after acquiring an additional 781 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Hecla Mining in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

Hecla Mining Trading Down 0.1%

Shares of Hecla Mining stock opened at $14.31 on Tuesday. The company has a current ratio of 4.94, a quick ratio of 4.53 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $16.25 and a 200-day simple moving average of $19.59. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 34.92 and a beta of 1.29. Hecla Mining Company has a 12-month low of $5.62 and a 12-month high of $34.17.

Hecla Mining (NYSE:HL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). Hecla Mining had a return on equity of 16.89% and a net margin of 17.41%.The company had revenue of $411.43 million for the quarter, compared to analyst estimates of $407.63 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. Hecla Mining's revenue was up 57.4% compared to the same quarter last year. On average, equities analysts forecast that Hecla Mining Company will post 0.47 EPS for the current fiscal year.

Hecla Mining Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were given a dividend of $0.0038 per share. The ex-dividend date was Friday, May 22nd. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.1%. Hecla Mining's payout ratio is 2.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. HC Wainwright decreased their price objective on shares of Hecla Mining from $36.50 to $26.75 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Weiss Ratings cut Hecla Mining from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, June 5th. Wall Street Zen downgraded Hecla Mining from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Scotiabank decreased their price target on Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. Finally, Canaccord Genuity Group raised Hecla Mining from a "hold" rating to a "buy" rating and set a $24.00 price objective for the company in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Hecla Mining currently has a consensus rating of "Hold" and a consensus target price of $24.12.

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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