Sprott Inc. Has $11.72 Million Stock Position in Hecla Mining Company $HL

Key Points

• Sprott Inc. reduced its stake in Hecla Mining Company by 12.7% in Q1, owning approximately 2.1 million shares valued at $11.72 million as of the latest SEC filing.
• Hecla Mining reported a quarterly profit of $0.08 EPS, exceeding analysts' estimates, and achieved a year-over-year revenue increase of 23.8%.
• The company declared a quarterly dividend of $0.0038 per share, offering a modest yield of 0.2%, with a low dividend payout ratio of 6.25%.

Sprott Inc. lessened its stake in Hecla Mining Company (NYSE:HL - Free Report) by 12.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,107,582 shares of the basic materials company's stock after selling 305,620 shares during the quarter. Sprott Inc. owned approximately 0.33% of Hecla Mining worth $11,718,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Hecla Mining during the 1st quarter valued at $31,000. PFG Investments LLC purchased a new stake in Hecla Mining during the first quarter worth about $56,000. Hohimer Wealth Management LLC bought a new stake in Hecla Mining in the first quarter worth about $58,000. Tradition Wealth Management LLC purchased a new stake in Hecla Mining in the first quarter worth $62,000. Finally, Abel Hall LLC purchased a new position in shares of Hecla Mining during the 1st quarter valued at $64,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

Hecla Mining Price Performance

Shares of Hecla Mining stock opened at $7.6950 on Friday. The business's 50-day moving average price is $6.34 and its 200-day moving average price is $5.79. The firm has a market capitalization of $5.16 billion, a PE ratio of 48.10 and a beta of 1.27. Hecla Mining Company has a 12 month low of $4.46 and a 12 month high of $7.86. 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 (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 analysts' consensus estimates of $0.05 by $0.03. The business had revenue of $304.03 million for 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 quarterly revenue was up 23.8% on a year-over-year basis. During the same period last year, the business earned $0.02 earnings per share. Sell-side analysts forecast that Hecla Mining Company will post 0.21 EPS for the current fiscal year.

Hecla Mining Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 22nd will be given a dividend of $0.0038 per share. This represents a $0.02 annualized dividend and a yield of 0.2%. The ex-dividend date is 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 a number of recent research reports. Roth Capital reiterated a "neutral" rating on shares of Hecla Mining in a research note on Thursday, August 7th. National Bank Financial upgraded shares of Hecla Mining to a "hold" rating in a research report on Thursday, June 12th. HC Wainwright upped their price target on shares of Hecla Mining from $11.50 to $12.50 and gave the stock a "buy" rating in a report on Thursday, August 7th. National Bankshares set a $7.00 price objective on Hecla Mining in a research report on Friday, June 13th. Finally, TD Securities dropped their price objective on Hecla Mining from $6.00 to $5.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $7.36.

Insider Buying and Selling

In other Hecla Mining news, VP Stuart Maurice Absolom sold 18,926 shares of Hecla Mining stock in a transaction that occurred 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 of the company's stock, valued at $395,670.60. The trade was a 24.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is owned by company insiders.

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.

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