Sharp Financial Services LLC Purchases Shares of 34,250 Hecla Mining Company $HL

Sharp Financial Services LLC acquired a new position in Hecla Mining Company (NYSE:HL) during the third quarter, HoldingsChannel reports. The institutional investor acquired 34,250 shares of the basic materials company’s stock, valued at approximately $414,000.

Several other hedge funds have also recently made changes to their positions in the business. Transce3nd LLC bought a new stake in Hecla Mining in the second quarter valued at $25,000. USA Financial Formulas bought a new position in Hecla Mining in the 3rd quarter worth $25,000. EverSource Wealth Advisors LLC lifted its position in shares of Hecla Mining by 255.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 4,425 shares during the period. Headlands Technologies LLC bought a new stake in shares of Hecla Mining during the 2nd quarter valued at about $44,000. Finally, Salomon & Ludwin LLC bought a new stake in shares of Hecla Mining during the 3rd quarter valued at about $49,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HL shares. CIBC increased their price target on shares of Hecla Mining from $15.00 to $16.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 25th. Zacks Research upgraded Hecla Mining from a “hold” rating to a “strong-buy” rating in a report on Monday. Weiss Ratings reissued a “hold (c+)” rating on shares of Hecla Mining in a research report on Monday, December 29th. HC Wainwright raised their target price on Hecla Mining from $12.50 to $16.50 and gave the company a “buy” rating in a research note on Thursday, November 6th. Finally, Scotiabank initiated coverage on Hecla Mining in a research report on Thursday, November 13th. They set a “sector perform” rating and a $15.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.22.

Insider Activity at Hecla Mining

In other Hecla Mining news, VP Kurt Allen sold 52,219 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $21.91, for a total transaction of $1,144,118.29. Following the completion of the sale, the vice president directly owned 216,641 shares in the company, valued at approximately $4,746,604.31. This trade represents a 19.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Russell Douglas Lawlar sold 18,535 shares of Hecla Mining stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $15.02, for a total transaction of $278,395.70. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 426,679 shares of company stock valued at $7,678,773. 0.62% of the stock is owned by insiders.

Hecla Mining Stock Performance

Hecla Mining stock opened at $23.82 on Thursday. Hecla Mining Company has a twelve month low of $4.46 and a twelve month high of $25.48. The company has a quick ratio of 1.51, a current ratio of 2.15 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $15.96 billion, a P/E ratio of 76.84 and a beta of 1.28. The stock’s 50 day moving average is $17.90 and its 200 day moving average is $12.35.

Hecla Mining (NYSE:HL) last released its earnings results on Wednesday, November 5th. The basic materials company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. Hecla Mining had a return on equity of 7.87% and a net margin of 16.35%.The business had revenue of $409.54 million for the quarter, compared to the consensus estimate of $315.60 million. During the same period in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 67.1% compared to the same quarter last year. On average, equities research analysts predict that Hecla Mining Company will post 0.21 earnings per share for the current fiscal year.

Hecla Mining Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, November 24th were paid a $0.0038 dividend. The ex-dividend date was Monday, November 24th. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. Hecla Mining’s payout ratio is presently 3.23%.

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.