Hecla Mining (NYSE:HL - Get Rating) declared a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Investors of record on Friday, August 19th will be paid a dividend of 0.0063 per share by the basic materials company on Friday, September 2nd. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Thursday, August 18th. This is a positive change from Hecla Mining's previous quarterly dividend of $0.006.
Hecla Mining has a payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hecla Mining to earn $0.27 per share next year, which means the company should continue to be able to cover its $0.03 annual dividend with an expected future payout ratio of 11.1%.
Hecla Mining Stock Performance
Shares of NYSE HL traded down $0.09 during trading hours on Friday, reaching $4.65. The stock had a trading volume of 334,451 shares, compared to its average volume of 7,112,731. The business's fifty day moving average is $4.28 and its two-hundred day moving average is $5.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.83 and a quick ratio of 1.44. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -28.69 and a beta of 2.05. Hecla Mining has a twelve month low of $3.44 and a twelve month high of $7.66.
Hecla Mining (NYSE:HL - Get Rating) last released its quarterly earnings data on Thursday, August 4th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. Hecla Mining had a return on equity of 2.76% and a net margin of 2.02%. The firm had revenue of $191.20 million during the quarter, compared to analyst estimates of $195.50 million. During the same period in the prior year, the company posted $0.06 earnings per share. The business's revenue for the quarter was down 12.3% compared to the same quarter last year. As a group, research analysts expect that Hecla Mining will post 0.04 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in HL. State Street Corp increased its position in shares of Hecla Mining by 23.3% during the 1st quarter. State Street Corp now owns 31,925,189 shares of the basic materials company's stock worth $209,748,000 after purchasing an additional 6,033,244 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Hecla Mining by 325.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,801,009 shares of the basic materials company's stock worth $44,682,000 after acquiring an additional 5,202,053 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Hecla Mining by 33.0% during the 1st quarter. Renaissance Technologies LLC now owns 5,176,465 shares of the basic materials company's stock worth $34,009,000 after acquiring an additional 1,285,800 shares during the period. Vanguard Group Inc. boosted its stake in shares of Hecla Mining by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 51,369,578 shares of the basic materials company's stock worth $337,497,000 after acquiring an additional 601,946 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Hecla Mining by 39.8% during the 1st quarter. JPMorgan Chase & Co. now owns 998,615 shares of the basic materials company's stock worth $6,561,000 after acquiring an additional 284,339 shares during the period. Institutional investors and hedge funds own 59.78% of the company's stock.
Wall Street Analyst Weigh In
HL has been the topic of several recent research reports. Roth Capital upgraded Hecla Mining from a "neutral" rating to a "buy" rating and decreased their price target for the company from $6.50 to $6.25 in a report on Wednesday, May 11th. Canaccord Genuity Group reduced their target price on Hecla Mining from $5.00 to $3.50 in a report on Wednesday, July 6th. B. Riley reduced their target price on Hecla Mining from $11.00 to $9.00 in a report on Wednesday, May 11th. HC Wainwright raised their target price on Hecla Mining from $7.75 to $8.25 and gave the stock a "buy" rating in a report on Wednesday, April 13th. Finally, StockNews.com upgraded Hecla Mining from a "sell" rating to a "hold" rating in a report on Friday, July 22nd.
About Hecla Mining
Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal properties in the United States and internationally. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for sale to custom smelters, metal traders, and third-party processors,; and doré containing silver and gold.
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