Van ECK Associates Corp boosted its holdings in Hecla Mining Company (NYSE:HL) by 37.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,105,358 shares of the basic materials company’s stock after purchasing an additional 10,415,245 shares during the quarter. Hecla Mining comprises approximately 1.1% of Van ECK Associates Corp’s investment portfolio, making the stock its 21st largest holding. Van ECK Associates Corp owned about 9.55% of Hecla Mining worth $194,337,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Teacher Retirement System of Texas grew its position in Hecla Mining by 2.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 31,773 shares of the basic materials company’s stock valued at $162,000 after purchasing an additional 802 shares during the period. PNC Financial Services Group Inc. grew its position in Hecla Mining by 3.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 65,978 shares of the basic materials company’s stock valued at $335,000 after purchasing an additional 1,934 shares during the period. Amalgamated Bank grew its position in Hecla Mining by 4.2% in the 2nd quarter. Amalgamated Bank now owns 49,967 shares of the basic materials company’s stock valued at $255,000 after purchasing an additional 1,995 shares during the period. Metropolitan Life Insurance Co. NY grew its position in Hecla Mining by 0.8% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 265,830 shares of the basic materials company’s stock valued at $1,406,000 after purchasing an additional 2,181 shares during the period. Finally, Pacad Investment Ltd. grew its position in Hecla Mining by 10.4% in the 2nd quarter. Pacad Investment Ltd. now owns 27,500 shares of the basic materials company’s stock valued at $140,000 after purchasing an additional 2,600 shares during the period. 59.35% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of Hecla Mining in a research report on Sunday, June 25th. BidaskClub downgraded shares of Hecla Mining from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. ValuEngine downgraded shares of Hecla Mining from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. TheStreet raised shares of Hecla Mining from a “c+” rating to a “b” rating in a research report on Monday, June 12th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $5.00 price objective on shares of Hecla Mining in a report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Hecla Mining has an average rating of “Hold” and an average target price of $6.43.
Hecla Mining Company (NYSE HL) traded up 1.60% during trading on Tuesday, reaching $5.08. 1,655,972 shares of the company’s stock were exchanged. Hecla Mining Company has a 12 month low of $4.61 and a 12 month high of $7.64. The stock has a market cap of $2.03 billion, a PE ratio of 41.30 and a beta of 0.40. The firm has a 50 day moving average of $5.12 and a 200-day moving average of $5.31.
Hecla Mining (NYSE:HL) last issued its quarterly earnings results 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). Hecla Mining had a net margin of 7.88% and a return on equity of 2.56%. The company had revenue of $134.30 million for the quarter, compared to the consensus estimate of $130.54 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. Hecla Mining’s revenue was down 21.6% compared to the same quarter last year. On average, equities research analysts anticipate that Hecla Mining Company will post $0.06 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Wednesday, August 23rd were issued a dividend of $0.0025 per share. The ex-dividend date of this dividend was Monday, August 21st. This represents a $0.01 annualized dividend and a dividend yield of 0.20%. Hecla Mining’s payout ratio is presently 7.69%.
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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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