The Manufacturers Life Insurance Company purchased a new position in shares of Hecla Mining Company (NYSE:HL - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 366,065 shares of the basic materials company's stock, valued at approximately $5,648,000. The Manufacturers Life Insurance Company owned 0.05% of Hecla Mining at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in HL. Algert Global LLC lifted its stake in shares of Hecla Mining by 4.2% in the 2nd quarter. Algert Global LLC now owns 503,052 shares of the basic materials company's stock valued at $7,762,000 after purchasing an additional 20,090 shares during the period. Cibc World Market Inc. acquired a new stake in Hecla Mining during the second quarter worth approximately $331,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Hecla Mining during the second quarter worth approximately $1,655,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in Hecla Mining in the second quarter worth approximately $239,000. Finally, Bank of Nova Scotia bought a new stake in Hecla Mining in the second quarter worth approximately $12,349,000. 63.01% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have issued reports on HL. Weiss Ratings upgraded Hecla Mining from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Jefferies Financial Group started coverage on shares of Hecla Mining in a research note on Thursday, August 20th. They issued a "hold" rating and a $22.00 price objective for the company. Scotiabank dropped their target price on shares of Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of Hecla Mining from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Zacks Research upgraded shares of Hecla Mining to a "hold" rating in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $23.82.
Get Our Latest Stock Report on Hecla Mining
Hecla Mining Stock Performance
HL stock opened at $19.86 on Tuesday. The stock's 50 day simple moving average is $16.67 and its 200 day simple moving average is $18.16. The company has a market cap of $13.34 billion, a P/E ratio of 40.53 and a beta of 1.32. Hecla Mining Company has a fifty-two week low of $8.07 and a fifty-two week high of $34.17.
Hecla Mining (NYSE:HL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The firm had revenue of $333.85 million during the quarter, compared to analyst estimates of $368.75 million. Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%. The company's revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. Equities analysts predict that Hecla Mining Company will post 0.46 earnings per share for the current year.
Hecla Mining Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be issued a $0.0038 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Wednesday, August 26th. Hecla Mining's dividend payout ratio (DPR) is currently 2.04%.
About Hecla Mining
(
Free Report)
Hecla Mining Company, founded in 1891 and headquartered in Coeur d'Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d'Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.
The company's principal operations are located in North America and Latin America.
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