Hecla Mining Company (HL) Short Interest Down 16.0% in August
Hecla Mining Company (NYSE:HL) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 14,539,031 shares, a decline of 16.0% from the August 15th total of 17,312,451 shares. Based on an average trading volume of 3,620,963 shares, the days-to-cover ratio is presently 4.0 days. Currently, 3.7% of the shares of the stock are sold short.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Hecla Mining by 73.8% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 1,504,211 shares of the basic materials company’s stock worth $7,671,000 after acquiring an additional 638,721 shares in the last quarter. BlackRock Inc. boosted its position in shares of 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 worth $132,549,000 after buying an additional 24,960,628 shares during the period. Clinton Group Inc. boosted its position in shares of Hecla Mining by 27.2% in the first quarter. Clinton Group Inc. now owns 127,982 shares of the basic materials company’s stock worth $677,000 after buying an additional 27,349 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Hecla Mining in the first quarter worth $323,000. Finally, Vanguard Group Inc. boosted its position in shares of Hecla Mining by 4.8% in the first quarter. Vanguard Group Inc. now owns 31,844,025 shares of the basic materials company’s stock worth $168,455,000 after buying an additional 1,458,387 shares during the period. 59.35% of the stock is owned by institutional investors and hedge funds.
Hecla Mining (NYSE HL) opened at 5.00 on Tuesday. Hecla Mining has a 12-month low of $4.61 and a 12-month high of $7.64. The stock has a 50 day moving average price of $5.12 and a 200-day moving average price of $5.31. The firm has a market capitalization of $2.00 billion, a PE ratio of 40.65 and a beta of 0.40.
Hecla Mining (NYSE:HL) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.05). The company had revenue of $134.30 million for the quarter, compared to the consensus estimate of $130.54 million. Hecla Mining had a return on equity of 2.56% and a net margin of 7.88%. The business’s revenue was down 21.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. On average, equities research analysts forecast that Hecla Mining will post $0.06 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Wednesday, August 23rd were paid a dividend of $0.0025 per share. This represents a $0.01 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Monday, August 21st. Hecla Mining’s dividend payout ratio is presently 7.69%.
A number of equities analysts have recently weighed in on the company. TheStreet cut Hecla Mining from a “b-” rating to a “c” rating in a report on Thursday, August 3rd. ValuEngine raised Hecla Mining from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Canaccord Genuity reissued a “hold” rating and issued a $5.00 price target on shares of Hecla Mining in a report on Thursday, September 7th. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of Hecla Mining in a report on Sunday, June 25th. Finally, BidaskClub cut Hecla Mining from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Hecla Mining presently has an average rating of “Hold” and a consensus price target of $6.43.
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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