Wellington Management Group LLP Purchases 38,118 Shares of Hecla Mining Company $HL

Key Points

• Wellington Management Group LLP increased its position in Hecla Mining by 2.3% in Q1 2023, now owning approximately 1.68 million shares valued at $9.37 million.
• Hecla Mining reported a 23.8% increase in revenue year-over-year, with Q2 2023 earnings of $0.08 per share, surpassing expectations.
• Analysts have mixed views on Hecla Mining, with an average rating of "Hold" and a target price of $7.36, while some upgraded it to "Buy."

Wellington Management Group LLP raised its holdings in Hecla Mining Company (NYSE:HL - Free Report) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,684,586 shares of the basic materials company's stock after purchasing an additional 38,118 shares during the quarter. Wellington Management Group LLP owned 0.27% of Hecla Mining worth $9,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Hecla Mining during the first quarter worth about $31,000. PFG Investments LLC purchased a new stake in shares of Hecla Mining during the 1st quarter worth approximately $56,000. Ground Swell Capital LLC bought a new stake in shares of Hecla Mining in the 4th quarter worth approximately $57,000. Hohimer Wealth Management LLC purchased a new position in Hecla Mining in the first quarter valued at approximately $58,000. Finally, CTC Alternative Strategies Ltd. bought a new position in Hecla Mining during the fourth quarter valued at $59,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Hecla Mining Price Performance

Shares of Hecla Mining stock traded up $0.45 on Monday, reaching $8.52. The stock had a trading volume of 20,308,025 shares, compared to its average volume of 22,104,986. The business's 50 day moving average is $6.59 and its two-hundred day moving average is $5.87. The company has a market cap of $5.71 billion, a P/E ratio of 53.28 and a beta of 1.29. Hecla Mining Company has a 1 year low of $4.46 and a 1 year high of $8.54. 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 posted its earnings results on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $304.03 million for the quarter, compared to analysts' expectations 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 period in the prior year, the company posted $0.02 EPS. As a group, research analysts anticipate that Hecla Mining Company will post 0.21 EPS for the current year.

Hecla Mining Announces Dividend

The firm 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 dividend payout ratio is currently 6.25%.

Insider Buying and Selling at Hecla Mining

In other news, VP Stuart Maurice Absolom sold 18,926 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $6.66, for a total transaction of $126,047.16. Following the completion of the transaction, the vice president owned 59,410 shares of the company's stock, valued at approximately $395,670.60. The trade was a 24.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HL shares. National Bank Financial raised Hecla Mining to a "hold" rating in a research report on Thursday, June 12th. Wall Street Zen raised shares of Hecla Mining from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. CIBC increased their target price on shares of Hecla Mining from $7.50 to $8.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. National Bankshares set a $7.00 price target on shares of Hecla Mining in a research report on Friday, June 13th. Finally, BMO Capital Markets upped their price target on shares of Hecla Mining from $6.00 to $6.50 and gave the company a "market perform" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Hecla Mining currently has a consensus rating of "Hold" and an average price target of $7.36.

About Hecla Mining

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.