Jupiter Topco LLC Makes New $10.76 Million Investment in Hecla Mining Company $HL

Jupiter Topco LLC acquired a new stake in Hecla Mining Company (NYSE:HL) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 697,375 shares of the basic materials company’s stock, valued at approximately $10,762,000.

Several other hedge funds and other institutional investors have also bought and sold shares of HL. Hsbc Holdings PLC acquired a new stake in Hecla Mining during the 2nd quarter worth about $268,000. EFG International AG bought a new stake in shares of Hecla Mining during the 2nd quarter valued at about $36,000. Legal & General Group Plc acquired a new stake in Hecla Mining during the second quarter worth approximately $13,621,000. The Manufacturers Life Insurance Company bought a new stake in Hecla Mining in the second quarter worth approximately $5,648,000. Finally, Algert Global LLC lifted its stake in Hecla Mining by 4.2% in the second quarter. Algert Global LLC now owns 503,052 shares of the basic materials company’s stock valued at $7,762,000 after buying an additional 20,090 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HL. Scotiabank lowered their price objective on shares of Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Wall Street Zen downgraded shares of Hecla Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Hecla Mining from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Zacks Research raised Hecla Mining to a “hold” rating in a research report on Friday, July 17th. Finally, HC Wainwright reduced their price objective on Hecla Mining from $36.50 to $26.75 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.82.

Hecla Mining Stock Performance

NYSE:HL opened at $20.45 on Friday. Hecla Mining Company has a 52 week low of $8.07 and a 52 week high of $34.17. The firm has a 50-day moving average price of $16.59 and a two-hundred day moving average price of $18.22. The firm has a market cap of $13.74 billion, a price-to-earnings ratio of 41.73 and a beta of 1.32.

Hecla Mining (NYSE:HL) last released its earnings results on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $333.85 million during the quarter, compared to the consensus estimate of $368.75 million. Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 earnings per share. As a group, sell-side analysts forecast that Hecla Mining Company will post 0.46 earnings per share for the current year.

Hecla Mining Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be given a $0.0038 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $0.01 annualized dividend and a yield of 0.1%. Hecla Mining’s payout ratio is currently 2.04%.

About Hecla Mining

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.