33,562 Shares in Hecla Mining Company $HL Bought by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P acquired a new stake in Hecla Mining Company, purchasing 33,562 shares valued at approximately $187,000 in the first quarter.
• Hecla Mining Company reported $0.08 EPS for the latest quarter, surpassing analysts' expectations, and has seen a 23.8% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.0038 per share, reflecting an annualized yield of 0.2% and a payout ratio of 6.25%.

Martingale Asset Management L P purchased a new stake in shares of Hecla Mining Company (NYSE:HL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 33,562 shares of the basic materials company's stock, valued at approximately $187,000.

Several other institutional investors have also recently added to or reduced their stakes in HL. Tidal Investments LLC lifted its holdings in Hecla Mining by 100.5% during the 4th quarter. Tidal Investments LLC now owns 15,885,647 shares of the basic materials company's stock valued at $77,999,000 after purchasing an additional 7,960,826 shares during the last quarter. Nuveen LLC bought a new position in Hecla Mining during the 1st quarter valued at about $18,410,000. Dimensional Fund Advisors LP lifted its holdings in Hecla Mining by 8.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 28,827,696 shares of the basic materials company's stock valued at $160,285,000 after purchasing an additional 2,306,239 shares during the last quarter. Jefferies Financial Group Inc. lifted its holdings in Hecla Mining by 1,331.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,997,790 shares of the basic materials company's stock valued at $9,809,000 after purchasing an additional 1,858,271 shares during the last quarter. Finally, Invesco Ltd. increased its position in Hecla Mining by 62.3% in the 1st quarter. Invesco Ltd. now owns 4,442,667 shares of the basic materials company's stock valued at $24,701,000 after acquiring an additional 1,705,994 shares in the last quarter. 63.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on HL shares. National Bank Financial upgraded shares of Hecla Mining to a "hold" rating in a research report on Thursday, June 12th. BMO Capital Markets raised their price objective on shares of Hecla Mining from $6.00 to $6.50 and gave the company a "market perform" rating in a research report on Thursday, August 7th. CIBC raised their price objective on shares of Hecla Mining from $7.50 to $8.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. HC Wainwright raised their price objective on shares of Hecla Mining from $11.50 to $12.50 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Hecla Mining from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $7.36.

Hecla Mining Trading Up 5.6%

Shares of NYSE:HL traded up $0.45 during trading on Friday, hitting $8.52. 20,308,025 shares of the company's stock were exchanged, compared to its average volume of 22,061,916. Hecla Mining Company has a 1-year low of $4.46 and a 1-year high of $8.54. The firm has a 50-day moving average price of $6.59 and a two-hundred day moving average price of $5.88. The company has a current ratio of 2.67, a quick ratio of 1.99 and a debt-to-equity ratio of 0.23. The firm has a market cap of $5.71 billion, a P/E ratio of 53.28 and a beta of 1.27.

Hecla Mining (NYSE:HL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. The firm had revenue of $304.03 million during 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.02 earnings per share. Equities analysts predict that Hecla Mining Company will post 0.21 earnings per share for the current year.

Hecla Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 22nd will be issued a dividend of $0.0038 per share. The ex-dividend date is Friday, August 22nd. This represents a $0.02 dividend on an annualized basis and a yield of 0.2%. Hecla Mining's payout ratio is currently 6.25%.

Insider Transactions at Hecla Mining

In related news, VP Stuart Maurice Absolom sold 18,926 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were 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 in the company, 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 this link. Corporate insiders own 0.62% of the company's stock.

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.