Hecla Mining (NYSE:HL) Issues Earnings Results, Misses Expectations By $0.01 EPS

Hecla Mining (NYSE:HL) posted its quarterly earnings results on Tuesday. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01), FiscalAI reports. Hecla Mining had a return on equity of 19.17% and a net margin of 20.84%.The firm had revenue of $333.85 million for the quarter, compared to analyst estimates of $368.75 million. During the same period last year, the company posted $0.09 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year.

Hecla Mining Stock Performance

Shares of HL traded down $0.62 during mid-day trading on Thursday, hitting $15.92. The stock had a trading volume of 24,514,909 shares, compared to its average volume of 24,470,797. Hecla Mining has a 52 week low of $6.94 and a 52 week high of $34.17. The business has a fifty day moving average price of $15.56 and a 200-day moving average price of $19.02. The firm has a market cap of $10.68 billion, a P/E ratio of 32.54 and a beta of 1.32. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.94 and a quick ratio of 4.53.

Hecla Mining Announces Dividend

The company also recently announced 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. This represents a $0.01 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, August 26th. Hecla Mining’s dividend payout ratio (DPR) is currently 2.04%.

Hedge Funds Weigh In On Hecla Mining

Several large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its holdings in shares of Hecla Mining by 20.9% during the first quarter. Goldman Sachs Group Inc. now owns 4,285,345 shares of the basic materials company’s stock worth $23,827,000 after purchasing an additional 739,360 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Hecla Mining by 24.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,959,276 shares of the basic materials company’s stock worth $10,894,000 after purchasing an additional 380,448 shares during the last quarter. Cetera Investment Advisers lifted its stake in Hecla Mining by 10.9% during the second quarter. Cetera Investment Advisers now owns 65,536 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 6,450 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Hecla Mining by 71.6% in the 2nd quarter. Prudential Financial Inc. now owns 78,395 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 32,714 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Hecla Mining by 1.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 153,867 shares of the basic materials company’s stock worth $922,000 after purchasing an additional 2,793 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HL. Weiss Ratings lowered Hecla Mining from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, June 5th. Zacks Research upgraded shares of Hecla Mining to a “hold” rating in a report on Friday, July 17th. HC Wainwright decreased their target price on shares of Hecla Mining from $36.50 to $26.75 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Wall Street Zen cut shares of Hecla Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Scotiabank cut their price target on 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. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.12.

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.