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

Key Points

• Hecla Mining announced a quarterly dividend of $0.0038 per share (annualized about $0.01) with an ex-dividend and record date of May 22 and a payable date of June 10, implying a yield of roughly 0.1%.
• The dividend is conservatively covered, with a payout ratio near 2.9% and analysts projecting $0.36 in earnings per share next year, supporting the company’s expected $0.01 annual payout.
• The stock jumped about 10.9% to open at $18.91, trades at a market cap of ~$12.7 billion and a P/E of ~38.9, and carries a consensus analyst rating of Hold with a $23.64 average price target.

Hecla Mining Company (NYSE:HL - Get Free Report) announced a quarterly dividend on Tuesday, May 5th. Investors of record on Friday, May 22nd will be given a dividend of 0.0038 per share by the basic materials company on Wednesday, June 10th. This represents a c) annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, May 22nd.

Hecla Mining has a dividend payout ratio of 2.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hecla Mining to earn $0.36 per share next year, which means the company should continue to be able to cover its $0.01 annual dividend with an expected future payout ratio of 2.8%.

Hecla Mining Stock Up 10.9%

HL opened at $18.91 on Wednesday. The company has a fifty day moving average of $19.70 and a two-hundred day moving average of $19.35. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of 38.92 and a beta of 1.26. Hecla Mining has a fifty-two week low of $4.68 and a fifty-two week high of $34.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.22 and a current ratio of 2.72.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on HL shares. Canadian Imperial Bank of Commerce upped their price target on Hecla Mining from $27.00 to $32.00 and gave the stock a "neutral" rating in a report on Wednesday, January 28th. Zacks Research lowered Hecla Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, February 13th. BMO Capital Markets boosted their price objective on Hecla Mining from $16.00 to $28.00 and gave the company a "market perform" rating in a research report on Tuesday, January 27th. Wall Street Zen downgraded Hecla Mining from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 29th. Finally, Roth Mkm set a $13.00 target price on Hecla Mining in a research report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Hecla Mining currently has a consensus rating of "Hold" and a consensus price target of $23.64.

Hecla Mining Company Profile

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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