Hecla Mining Company $HL Shares Acquired by First Trust Advisors LP

Key Points

• First Trust Advisors increased its position in Hecla Mining by 374.2% in Q3, buying 2,586,464 additional shares to hold 3,277,748 shares (about 0.49% of the company) valued at roughly $39.66 million.
• Institutional ownership is 63.01% after other funds added positions (e.g., Ninety One UK), while insiders VP David Sienko and VP Kurt Allen disclosed sizable stock sales that trimmed their holdings by about 18–19%.
• Hecla trades near $20.50 with a market cap of $13.74 billion and a PE of 41.8; the company announced a quarterly dividend of $0.0038 ($0.02 annualized, ~0.1% yield) and carries a consensus analyst rating of Hold with a $21.63 average price target.

First Trust Advisors LP boosted its position in shares of Hecla Mining Company (NYSE:HL - Free Report) by 374.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,277,748 shares of the basic materials company's stock after buying an additional 2,586,464 shares during the quarter. First Trust Advisors LP owned 0.49% of Hecla Mining worth $39,661,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ninety One UK Ltd boosted its position in shares of Hecla Mining by 1.7% during the 3rd quarter. Ninety One UK Ltd now owns 6,219,902 shares of the basic materials company's stock valued at $75,261,000 after purchasing an additional 103,009 shares in the last quarter. Maryland State Retirement & Pension System acquired a new position in shares of Hecla Mining in the 3rd quarter worth approximately $1,150,000. Yousif Capital Management LLC bought a new stake in shares of Hecla Mining in the 3rd quarter worth approximately $2,483,000. Berman McAleer LLC acquired a new stake in Hecla Mining during the third quarter valued at approximately $593,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Hecla Mining during the second quarter valued at approximately $2,256,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Hecla Mining Trading Down 3.1%

NYSE HL opened at $20.50 on Friday. The company has a current ratio of 2.72, a quick ratio of 2.22 and a debt-to-equity ratio of 0.10. Hecla Mining Company has a 1-year low of $4.46 and a 1-year high of $34.17. The firm's fifty day simple moving average is $23.69 and its 200-day simple moving average is $17.31. The company has a market capitalization of $13.74 billion, a PE ratio of 41.84 and a beta of 1.22.

Hecla Mining Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Monday, March 9th will be given a $0.0038 dividend. This represents a $0.02 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Monday, March 9th. Hecla Mining's dividend payout ratio is presently 2.04%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Hecla Mining in a report on Monday, December 29th. Roth Mkm set a $13.00 price objective on Hecla Mining in a research report on Wednesday, February 18th. HC Wainwright raised their price objective on Hecla Mining from $16.50 to $36.50 and gave the stock a "buy" rating in a research note on Tuesday, January 27th. BMO Capital Markets lifted their target price on Hecla Mining from $16.00 to $28.00 and gave the stock a "market perform" rating in a report on Tuesday, January 27th. Finally, Canaccord Genuity Group set a $26.50 target price on Hecla Mining in a research report on Friday, January 23rd. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $21.63.

Insider Activity

In other news, VP David C. Sienko sold 207,553 shares of Hecla Mining stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $19.42, for a total transaction of $4,030,679.26. Following the completion of the sale, the vice president directly owned 906,370 shares in the company, valued at $17,601,705.40. The trade was a 18.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kurt Allen sold 52,219 shares of the business's stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $21.91, for a total value of $1,144,118.29. Following the completion of the sale, the vice president directly owned 216,641 shares of the company's stock, valued at approximately $4,746,604.31. The trade was a 19.42% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.62% of the company's stock.

About Hecla Mining

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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