Short Interest in Hecla Mining Company (NYSE:HL) Decreases By 13.1%
Hecla Mining Company (NYSE:HL) saw a significant decrease in short interest in July. As of July 14th, there was short interest totalling 18,444,535 shares, a decrease of 13.1% from the June 30th total of 21,222,198 shares. Based on an average daily volume of 4,548,935 shares, the short-interest ratio is presently 4.1 days. Approximately 4.7% of the company’s shares are sold short.
Shares of Hecla Mining (HL) opened at 5.00 on Friday. The stock’s 50 day moving average price is $5.22 and its 200-day moving average price is $5.59. Hecla Mining has a 52-week low of $4.61 and a 52-week high of $7.64. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 20.24 and a beta of 0.44.
Hecla Mining (NYSE:HL) last posted its earnings results on Thursday, August 3rd. The basic materials company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.05. The business had revenue of $134.30 million for the quarter, compared to analyst estimates of $130.54 million. Hecla Mining had a net margin of 7.88% and a return on equity of 2.57%. The business’s revenue was down 21.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. On average, analysts predict that Hecla Mining will post $0.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Wednesday, August 23rd will be issued a dividend of $0.0025 per share. This represents a $0.01 annualized dividend and a dividend yield of 0.20%. Hecla Mining’s payout ratio is 7.69%.
Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Hecla Mining by 25,993.9% in the first quarter. BlackRock Inc. now owns 25,056,653 shares of the basic materials company’s stock valued at $132,549,000 after buying an additional 24,960,628 shares during the last quarter. Van ECK Associates Corp raised its position in Hecla Mining by 17.4% in the first quarter. Van ECK Associates Corp now owns 27,690,113 shares of the basic materials company’s stock valued at $146,481,000 after buying an additional 4,112,479 shares during the last quarter. Bank of New York Mellon Corp raised its position in Hecla Mining by 133.7% in the second quarter. Bank of New York Mellon Corp now owns 4,239,775 shares of the basic materials company’s stock valued at $21,623,000 after buying an additional 2,425,493 shares during the last quarter. State Street Corp raised its position in Hecla Mining by 17.2% in the first quarter. State Street Corp now owns 15,508,845 shares of the basic materials company’s stock valued at $82,046,000 after buying an additional 2,275,928 shares during the last quarter. Finally, Norges Bank acquired a new position in Hecla Mining during the fourth quarter valued at $10,156,000. Institutional investors and hedge funds own 57.45% of the company’s stock.
A number of analysts have recently weighed in on the company. TheStreet lowered Hecla Mining from a “b-” rating to a “c” rating in a research report on Thursday. ValuEngine lowered Hecla Mining from a “hold” rating to a “sell” rating in a research report on Friday. Royal Bank Of Canada set a $6.00 price objective on Hecla Mining and gave the stock a “hold” rating in a research report on Monday, April 24th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Hecla Mining in a research report on Sunday, June 25th. Finally, BidaskClub lowered Hecla Mining from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Hecla Mining presently has a consensus rating of “Hold” and an average target price of $6.81.
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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. It produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver.
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