Hecla Mining Company $HL Shares Acquired by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its Hecla Mining stake by 1,188.7% in the second quarter, ending with 432,889 shares valued at approximately $6.7 million. Institutional investors collectively own 63.01% of HL.
• Analysts maintain a generally neutral outlook, with a consensus rating of “Hold” and an average price target of $23.82; ratings include two Buys, six Holds, and one Sell.
• Hecla reported quarterly EPS of $0.17, slightly below the $0.18 estimate, while revenue rose 9.8% year over year to $333.85 million but missed expectations. The company also paid a quarterly dividend of $0.0038 per share.

NewEdge Advisors LLC grew its holdings in Hecla Mining Company (NYSE:HL - Free Report) by 1,188.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 432,889 shares of the basic materials company's stock after acquiring an additional 399,298 shares during the period. NewEdge Advisors LLC owned about 0.06% of Hecla Mining worth $6,679,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its holdings in shares of Hecla Mining by 74.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company's stock worth $28,000 after purchasing an additional 631 shares during the last quarter. Sittner & Nelson LLC purchased a new stake in Hecla Mining in the fourth quarter valued at $29,000. Rothschild Investment LLC grew its position 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 purchasing an additional 781 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in Hecla Mining during the 4th quarter worth about $31,000. Finally, CIBC Private Wealth Group LLC grew its position in Hecla Mining by 134.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,670 shares of the basic materials company's stock worth $32,000 after purchasing an additional 957 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on HL shares. Zacks Research upgraded Hecla Mining to a "hold" rating in a research note on Friday, July 17th. Scotiabank reduced their price target on Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 14th. Weiss Ratings raised Hecla Mining from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, September 8th. Finally, Jefferies Financial Group started coverage on Hecla Mining in a report on Thursday, August 20th. They issued a "hold" rating and a $22.00 price target for the company. Two 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. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $23.82.

Hecla Mining Stock Performance

HL opened at $19.77 on Monday. The company has a fifty day moving average of $17.55 and a two-hundred day moving average of $18.02. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 40.36 and a beta of 1.38. Hecla Mining Company has a fifty-two week low of $10.38 and a fifty-two week high of $34.17.

Hecla Mining (NYSE:HL - Get Free Report) last posted its 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). Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%.The firm had revenue of $333.85 million for the quarter, compared to analysts' expectations of $368.75 million. During the same period in the previous year, the company earned $0.09 earnings per share. The company's revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts forecast that Hecla Mining Company will post 0.46 earnings per share for the current year.

Hecla Mining Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th were given a dividend of $0.0038 per share. The ex-dividend date was Wednesday, August 26th. This represents a $0.01 dividend on an annualized basis and a yield of 0.1%. Hecla Mining's dividend payout ratio is currently 2.04%.

About Hecla Mining

Hecla Mining Company NYSE: HL is a precious and base metals mining company focused primarily on the exploration, development, and production of silver, gold, lead, and zinc. The company sells concentrates and refined metals produced from its mining operations and also maintains a portfolio of exploration and development properties.

Founded in 1891, Hecla is one of the oldest U.S.-based mining companies. Its operating portfolio has included the Greens Creek silver, gold, lead, and zinc mine near Juneau, Alaska; the Lucky Friday silver, lead, and zinc mine in Idaho; the Keno Hill silver district in Yukon, Canada; and the Casa Berardi gold mine in Quebec, Canada.

Through these operations and related exploration activities, Hecla serves the North American metals market, with production and mineral assets located in the United States and Canada.

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