Ninety One UK Ltd Reduces Stock Position in Hecla Mining Company $HL

Key Points

• Ninety One UK Ltd has reduced its stake in Hecla Mining Company (10.6%) during the second quarter, now owning approximately 6.1 million shares valued at $36.64 million.
• Hecla Mining reported earnings of $0.08 EPS for the last quarter, surpassing expectations and showcasing a 23.8% revenue increase year-over-year, with total revenue of $304.03 million.
• Hecla Mining declared a quarterly dividend of $0.0038 per share, representing an annualized yield of 0.1%, with a dividend payout ratio currently at 6.25%.

Ninety One UK Ltd reduced its stake in Hecla Mining Company (NYSE:HL - Free Report) by 10.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,116,893 shares of the basic materials company's stock after selling 722,694 shares during the quarter. Ninety One UK Ltd owned approximately 0.97% of Hecla Mining worth $36,640,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HL. Focus Partners Advisor Solutions LLC grew its position in Hecla Mining by 10.9% in the first quarter. Focus Partners Advisor Solutions LLC now owns 21,657 shares of the basic materials company's stock worth $120,000 after acquiring an additional 2,135 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Hecla Mining by 13.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,883 shares of the basic materials company's stock worth $93,000 after purchasing an additional 2,169 shares during the period. Baader Bank Aktiengesellschaft grew its holdings in shares of Hecla Mining by 6.4% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 39,402 shares of the basic materials company's stock worth $236,000 after purchasing an additional 2,368 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Hecla Mining by 10.7% during the 4th quarter. Ameriprise Financial Inc. now owns 25,370 shares of the basic materials company's stock worth $125,000 after purchasing an additional 2,457 shares during the period. Finally, Xponance Inc. boosted its stake in Hecla Mining by 5.9% during the first quarter. Xponance Inc. now owns 45,092 shares of the basic materials company's stock worth $251,000 after buying an additional 2,525 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Stuart Maurice Absolom sold 14,472 shares of Hecla Mining stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $11.29, for a total value of $163,388.88. Following the completion of the transaction, the vice president owned 73,200 shares in the company, valued at approximately $826,428. This trade represents a 16.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company's stock.

Hecla Mining Stock Performance

Shares of HL stock opened at $12.10 on Wednesday. The company has a quick ratio of 1.99, a current ratio of 2.67 and a debt-to-equity ratio of 0.23. Hecla Mining Company has a 52 week low of $4.46 and a 52 week high of $12.26. The stock has a market capitalization of $8.11 billion, a PE ratio of 75.63 and a beta of 1.29. The firm has a 50 day moving average of $8.65 and a two-hundred day moving average of $6.68.

Hecla Mining (NYSE:HL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The company 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 firm's revenue was up 23.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 EPS. On average, research analysts predict that Hecla Mining Company will post 0.21 EPS for the current fiscal year.

Hecla Mining Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd were paid a $0.0038 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Friday, August 22nd. Hecla Mining's dividend payout ratio (DPR) is presently 6.25%.

Analysts Set New Price Targets

HL has been the subject of several research analyst reports. BMO Capital Markets increased their target price on shares of Hecla Mining from $6.00 to $6.50 and gave the stock a "market perform" rating in a research note on Thursday, August 7th. National Bank Financial raised shares of Hecla Mining to a "hold" rating in a research report on Thursday, June 12th. Roth Capital reaffirmed a "neutral" rating on shares of Hecla Mining in a research report on Thursday, August 7th. Wall Street Zen upgraded Hecla Mining from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, National Bankshares set a $7.00 price target on Hecla Mining in a research report on Friday, June 13th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Hecla Mining presently has an average rating of "Hold" and a consensus price target of $7.36.

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.

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