Hsbc Holdings PLC Boosts Position in Hecla Mining Company $HL

Key Points

• Hsbc Holdings PLC increased its stake in Hecla Mining by 285.7% in the first quarter, ending with 173,583 shares valued at about $3.21 million.
• Hecla Mining shares were down 1.3% in Friday trading, with the stock opening at $15.12. The company’s market cap is about $10.14 billion, and it has traded between $5.62 and $34.17 over the past 52 weeks.
• The company recently posted Q1 earnings of $0.24 per share, missing expectations, though revenue of $411.43 million topped estimates and rose 57.4% year over year. Analysts currently rate the stock a Hold on average, with a consensus price target of $24.12.

Hsbc Holdings PLC boosted its stake in shares of Hecla Mining Company (NYSE:HL - Free Report) by 285.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 173,583 shares of the basic materials company's stock after acquiring an additional 128,583 shares during the quarter. Hsbc Holdings PLC's holdings in Hecla Mining were worth $3,211,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Hecla Mining by 11.9% in the fourth quarter. Geode Capital Management LLC now owns 16,620,647 shares of the basic materials company's stock valued at $319,000,000 after buying an additional 1,770,949 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Hecla Mining during the 4th quarter worth approximately $88,417,000. Retirement Systems of Alabama acquired a new stake in shares of Hecla Mining in the fourth quarter valued at $15,433,000. SG Americas Securities LLC grew its holdings in shares of Hecla Mining by 2,648.5% in the fourth quarter. SG Americas Securities LLC now owns 565,059 shares of the basic materials company's stock valued at $10,843,000 after purchasing an additional 544,500 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd raised its stake in shares of Hecla Mining by 179.5% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 140,600 shares of the basic materials company's stock valued at $2,698,000 after acquiring an additional 90,300 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

Hecla Mining Stock Down 1.3%

NYSE HL opened at $15.12 on Friday. The business has a 50 day moving average price of $15.91 and a two-hundred day moving average price of $19.48. The company has a quick ratio of 4.53, a current ratio of 4.94 and a debt-to-equity ratio of 0.10. The stock has a market cap of $10.14 billion, a PE ratio of 36.87 and a beta of 1.29. Hecla Mining Company has a fifty-two week low of $5.62 and a fifty-two week high of $34.17.

Hecla Mining (NYSE:HL - Get Free Report) last released 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 business had revenue of $411.43 million during the quarter, compared to analyst estimates of $407.63 million. During the same quarter last year, the firm posted $0.04 EPS. The company's revenue was up 57.4% compared to the same quarter last year. As a group, sell-side analysts predict that Hecla Mining Company will post 0.47 EPS for the current fiscal year.

Hecla Mining Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HL shares. Canaccord Genuity Group raised Hecla Mining from a "hold" rating to a "buy" rating and set a $24.00 target price on the stock in a report on Wednesday, April 29th. HC Wainwright decreased their price objective on Hecla Mining from $36.50 to $26.75 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Zacks Research raised Hecla Mining to a "hold" rating in a research note on Friday, July 17th. Scotiabank decreased their price target on Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Finally, Weiss Ratings cut shares of Hecla Mining from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, June 5th. Two research 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. Based on data from MarketBeat, Hecla Mining presently has an average rating of "Hold" and a consensus price target 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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