Hecla Mining Company $HL Stock Holdings Lowered by Wellington Management Group LLP

Key Points

• Wellington Management reduced its Hecla Mining stake by 26.6% in the second quarter, selling 588,034 shares and retaining 1.62 million shares worth approximately $25 million. Institutional investors collectively own 63.01% of HL.
• Hecla Mining reported quarterly EPS of $0.17, slightly below the $0.18 consensus estimate, while revenue of $333.85 million also missed expectations but increased 9.8% year over year.
• Analysts maintain a broadly cautious outlook, with a consensus “Hold” rating and an average price target of $23.82. The company also announced a quarterly dividend of $0.0038 per share, representing a 0.1% yield.

Wellington Management Group LLP cut its holdings in shares of Hecla Mining Company (NYSE:HL - Free Report) by 26.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,620,108 shares of the basic materials company's stock after selling 588,034 shares during the period. Wellington Management Group LLP owned approximately 0.24% of Hecla Mining worth $24,998,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in HL. Comprehensive Money Management Services LLC acquired a new position in Hecla Mining in the second quarter worth approximately $328,000. Empowered Funds LLC acquired a new stake in shares of Hecla Mining during the 2nd quarter valued at $22,599,000. United Capital Financial Advisors LLC bought a new stake in shares of Hecla Mining during the 2nd quarter worth $175,000. Jefferies Financial Group Inc. bought a new stake in shares of Hecla Mining during the 2nd quarter worth $678,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Hecla Mining in the 2nd quarter worth $2,823,000. 63.01% of the stock is currently owned by institutional investors.

Hecla Mining Stock Down 2.5%

Shares of NYSE:HL opened at $20.68 on Friday. The company's fifty day moving average is $17.10 and its two-hundred day moving average is $18.14. Hecla Mining Company has a 12-month low of $8.83 and a 12-month high of $34.17. The company has a market cap of $13.89 billion, a P/E ratio of 42.20 and a beta of 1.38.

Hecla Mining (NYSE:HL - Get Free Report) last issued its earnings results on Tuesday, August 4th. The basic materials company reported $0.17 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 business had revenue of $333.85 million during the quarter, compared to analyst estimates of $368.75 million. During the same period last year, the business earned $0.09 EPS. The business's quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Hecla Mining Company will post 0.46 earnings per share for the current year.

Hecla Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be given a dividend of $0.0038 per share. The ex-dividend date is 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 (DPR) is presently 2.04%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HL shares. Weiss Ratings raised Hecla Mining from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Zacks Research upgraded Hecla Mining to a "hold" rating in a research report on Friday, July 17th. Wall Street Zen cut Hecla Mining from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Scotiabank cut their price objective on Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 14th. Finally, Jefferies Financial Group began coverage on shares of Hecla Mining in a research note on Thursday, August 20th. They set a "hold" rating and a $22.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Hecla Mining has a consensus rating of "Hold" and an average price target of $23.82.

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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