Schroder Investment Management Group Takes Position in Hecla Mining Co. (HL)
Schroder Investment Management Group acquired a new stake in shares of Hecla Mining Co. (NYSE:HL) during the second quarter, Holdings Channel reports. The fund acquired 423,000 shares of the company’s stock, valued at approximately $2,157,000. Schroder Investment Management Group owned about 0.11% of Hecla Mining at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Merriman Wealth Management LLC purchased a new position in shares of Hecla Mining during the second quarter worth $6,301,000. Washington Trust Bank raised its position in shares of Hecla Mining by 4.3% in the second quarter. Washington Trust Bank now owns 23,467 shares of the company’s stock worth $120,000 after buying an additional 967 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Hecla Mining by 25.4% in the second quarter. BNP Paribas Arbitrage SA now owns 63,465 shares of the company’s stock worth $324,000 after buying an additional 12,857 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Hecla Mining by 23.4% in the first quarter. Squarepoint Ops LLC now owns 55,900 shares of the company’s stock worth $155,000 after buying an additional 10,600 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Hecla Mining by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 260,199 shares of the company’s stock worth $723,000 after buying an additional 785 shares during the last quarter. 59.16% of the stock is currently owned by institutional investors and hedge funds.
Shares of Hecla Mining Co. (NYSE:HL) traded down 2.386% during midday trading on Friday, hitting $6.013. 4,069,919 shares of the stock were exchanged. The firm’s 50-day moving average is $6.21 and its 200-day moving average is $4.75. Hecla Mining Co. has a 12 month low of $1.45 and a 12 month high of $7.26. The stock’s market cap is $2.32 billion.
Hecla Mining (NYSE:HL) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. Hecla Mining had a negative net margin of 9.44% and a positive return on equity of 1.54%. The firm had revenue of $171.30 million for the quarter, compared to the consensus estimate of $141.25 million. During the same period last year, the firm earned ($0.05) earnings per share. The company’s quarterly revenue was up 64.4% on a year-over-year basis. Equities research analysts predict that Hecla Mining Co. will post $0.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Tuesday, August 23rd were paid a $0.0025 dividend. The ex-dividend date was Friday, August 19th. This represents a $0.01 annualized dividend and a yield of 0.16%. Hecla Mining’s dividend payout ratio (DPR) is -7.14%.
A number of equities analysts recently weighed in on the stock. FBR & Co boosted their price objective on shares of Hecla Mining from $5.00 to $6.00 and gave the stock a “mkt perform” rating in a report on Tuesday, August 9th. Deutsche Bank AG boosted their price objective on shares of Hecla Mining from $4.20 to $5.50 and gave the stock a “hold” rating in a report on Tuesday, August 9th. JPMorgan Chase & Co. upgraded shares of Hecla Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price objective for the company in a report on Tuesday, August 9th. BMO Capital Markets lowered shares of Hecla Mining from an “outperform” rating to a “market perform” rating and set a $7.00 price objective for the company. in a report on Tuesday, August 23rd. Finally, Zacks Investment Research upgraded shares of Hecla Mining from a “hold” rating to a “buy” rating and set a $6.75 price objective for the company in a report on Monday, July 11th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $5.60.
In other Hecla Mining news, Director Anthony P. Taylor sold 6,921 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $4.94, for a total value of $34,189.74. Following the completion of the sale, the director now directly owns 50,000 shares in the company, valued at $247,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Phillips S. Baker, Jr. sold 392,863 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $7.05, for a total transaction of $2,769,684.15. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.
About Hecla Mining
Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Company and its subsidiaries provide precious and base metals to the United States and around the world. The Company produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver at Greens Creek and Casa Berardi.
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