Pure Portfolios Holdings LLC Invests $315,000 in Hecla Mining Company $HL

Key Points

• Pure Portfolios Holdings LLC has invested approximately $315,000 in Hecla Mining Company, acquiring 52,561 shares during the 2nd quarter of the year.
• Insider trading has seen Stuart Maurice Absolom, VP of Hecla Mining, sell 14,472 shares, reducing his position by 16.51%.
• Hecla Mining reported a net income of $304.03 million for the last quarter, exceeding analyst expectations and contributing to 23.8% revenue growth year-over-year.

Pure Portfolios Holdings LLC acquired a new position in Hecla Mining Company (NYSE:HL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 52,561 shares of the basic materials company's stock, valued at approximately $315,000.

A number of other institutional investors also recently bought and sold shares of HL. Pale Fire Capital SE purchased a new position in Hecla Mining during the 1st quarter worth approximately $41,360,000. Nuveen LLC purchased a new position in shares of Hecla Mining during the first quarter worth $18,410,000. MetLife Investment Management LLC raised its holdings in shares of Hecla Mining by 869.3% during the first quarter. MetLife Investment Management LLC now owns 3,274,065 shares of the basic materials company's stock worth $18,204,000 after purchasing an additional 2,936,288 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Hecla Mining by 8.7% during the first quarter. Dimensional Fund Advisors LP now owns 28,827,696 shares of the basic materials company's stock worth $160,285,000 after purchasing an additional 2,306,239 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Hecla Mining during the 1st quarter valued at about $11,132,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Hecla Mining news, VP Stuart Maurice Absolom sold 14,472 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $11.29, for a total transaction of $163,388.88. Following the completion of the sale, the vice president directly owned 73,200 shares in the company, valued at approximately $826,428. The trade was a 16.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.40% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. National Bank Financial upgraded Hecla Mining to a "hold" rating in a research note on Thursday, June 12th. BMO Capital Markets lifted their price target on Hecla Mining from $6.00 to $6.50 and gave the company a "market perform" rating 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. CIBC lifted their target price on shares of Hecla Mining from $7.50 to $8.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Finally, Roth Capital set a $8.75 target price on shares of Hecla Mining and gave the company a "sell" rating in a report on Friday. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Hecla Mining has an average rating of "Hold" and an average price target of $7.75.

Hecla Mining Stock Down 3.9%

Hecla Mining stock opened at $11.99 on Wednesday. The stock has a market capitalization of $8.03 billion, a PE ratio of 74.91 and a beta of 1.31. The business has a 50 day simple moving average of $9.25 and a 200-day simple moving average of $6.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 1.99. Hecla Mining Company has a 12 month low of $4.46 and a 12 month high of $12.72.

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, topping the consensus estimate of $0.05 by $0.03. The company had revenue of $304.03 million during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.02 EPS. On average, analysts anticipate that Hecla Mining Company will post 0.21 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd were paid a dividend of $0.0038 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.1%. Hecla Mining's payout ratio is currently 6.25%.

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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