MetLife Investment Management LLC Has $18.20 Million Position in Hecla Mining Company $HL

Key Points

• MetLife Investment Management LLC increased its stake in Hecla Mining by 869.3% during the first quarter, owning a total of over 3.2 million shares valued at approximately $18.2 million.
• Hecla Mining's recent earnings beat analyst expectations, reporting $0.08 EPS with a 23.8% increase in revenue year-over-year, amounting to $304.03 million for the quarter.
• The company has announced a quarterly dividend of $0.0038 per share, with a dividend yield of 0.2%, and is positioned to pay on September 4th.

MetLife Investment Management LLC increased its position in shares of Hecla Mining Company (NYSE:HL - Free Report) by 869.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,274,065 shares of the basic materials company's stock after purchasing an additional 2,936,288 shares during the period. MetLife Investment Management LLC owned about 0.52% of Hecla Mining worth $18,204,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Hecla Mining in the 1st quarter valued at $31,000. PFG Investments LLC bought a new stake in Hecla Mining in the first quarter valued at about $56,000. Ground Swell Capital LLC acquired a new position in Hecla Mining in the fourth quarter worth about $57,000. Hohimer Wealth Management LLC bought a new position in Hecla Mining during the first quarter worth about $58,000. Finally, CTC Alternative Strategies Ltd. acquired a new stake in Hecla Mining during the fourth quarter valued at approximately $59,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Hecla Mining Price Performance

Shares of Hecla Mining stock traded up $0.05 during trading on Thursday, reaching $8.08. The company's stock had a trading volume of 17,930,180 shares, compared to its average volume of 20,949,525. The stock has a 50-day moving average price of $6.50 and a two-hundred day moving average price of $5.85. The stock has a market capitalization of $5.41 billion, a P/E ratio of 50.52 and a beta of 1.27. The company has a current ratio of 2.67, a quick ratio of 1.99 and a debt-to-equity ratio of 0.23. Hecla Mining Company has a one year low of $4.46 and a one year high of $8.23.

Hecla Mining (NYSE:HL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. Hecla Mining had a net margin of 9.55% and a return on equity of 5.51%. The firm had revenue of $304.03 million for the quarter, compared to analyst estimates of $248.93 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The company's revenue was up 23.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Hecla Mining Company will post 0.21 EPS for the current fiscal year.

Hecla Mining Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. BMO Capital Markets increased their target price on Hecla Mining from $6.00 to $6.50 and gave the stock a "market perform" rating in a report on Thursday, August 7th. National Bank Financial upgraded Hecla Mining to a "hold" rating in a research report on Thursday, June 12th. Wall Street Zen raised Hecla Mining from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. HC Wainwright boosted their target price on shares of Hecla Mining from $11.50 to $12.50 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, CIBC upped their target price on shares of Hecla Mining from $7.50 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Hecla Mining currently has an average rating of "Hold" and an average target price of $7.36.

Insider Buying and Selling

In other Hecla Mining news, VP Stuart Maurice Absolom sold 18,926 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $6.66, for a total value of $126,047.16. Following the transaction, the vice president directly owned 59,410 shares in the company, valued at approximately $395,670.60. This trade represents a 24.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.62% of the company's stock.

Hecla Mining Profile

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.