Hecla Mining Company (NYSE:HL) Plans $0.00 Quarterly Dividend

Key Points

• Hecla Mining Company has declared a quarterly dividend of $0.0038 per share, with a yield of 0.2%, payable on September 4th.
• The company reported a 23.8% increase in quarterly revenue year-over-year, totaling $304.03 million, significantly exceeding analyst expectations.
• Shares of Hecla Mining surged 18.3% on the trading day, reaching $7.23, amidst favorable analyst ratings and increased price targets.

Hecla Mining Company (NYSE:HL - Get Free Report) declared a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Investors of record on Friday, August 22nd will be given a dividend of 0.0038 per share by the basic materials company on Thursday, September 4th. This represents a c) annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, August 22nd.

Hecla Mining has a dividend payout ratio of 5.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hecla Mining to earn $0.19 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 10.5%.

Hecla Mining Stock Down 0.7%

NYSE HL traded down $0.05 on Monday, reaching $7.55. The company had a trading volume of 23,343,531 shares, compared to its average volume of 21,861,712. The firm has a 50-day moving average of $6.09 and a 200-day moving average of $5.68. The firm has a market capitalization of $5.06 billion, a PE ratio of 47.18 and a beta of 1.27. Hecla Mining has a 1 year low of $4.46 and a 1 year high of $7.68. 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 (NYSE:HL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Hecla Mining had a net margin of 9.55% and a return on equity of 5.51%. The company had revenue of $304.03 million during the quarter, compared to analyst estimates of $248.93 million. During the same period last year, the business earned $0.02 EPS. The firm's revenue for the quarter was up 23.8% compared to the same quarter last year. On average, equities research analysts anticipate that Hecla Mining will post 0.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HL. TD Securities dropped their price objective on Hecla Mining from $6.00 to $5.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. National Bankshares set a $7.00 price target on shares of Hecla Mining in a research note on Friday, June 13th. BMO Capital Markets upped their price objective on shares of Hecla Mining from $6.00 to $6.50 and gave the stock a "market perform" rating in a report on Thursday. CIBC lifted 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. Finally, National Bank Financial raised shares of Hecla Mining to a "hold" rating in a report on Thursday, June 12th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price 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.