Hecla Mining Company (NYSE:HL) was the recipient of a significant decrease in short interest in the month of July. As of July 14th, there was short interest totalling 18,444,535 shares, a decrease of 13.1% from the June 30th total of 21,222,198 shares. Based on an average daily trading volume, of 4,548,935 shares, the short-interest ratio is presently 4.1 days. Approximately 4.7% of the company’s stock are short sold.
Several large investors have recently modified their holdings of HL. Ameriprise Financial Inc. increased its stake in shares of Hecla Mining by 27.8% in the first quarter. Ameriprise Financial Inc. now owns 20,159 shares of the basic materials company’s stock worth $106,000 after buying an additional 4,384 shares during the period. Trexquant Investment LP bought a new position in shares of Hecla Mining during the second quarter worth approximately $124,000. Pacad Investment Ltd. increased its position in shares of Hecla Mining by 10.4% in the second quarter. Pacad Investment Ltd. now owns 27,500 shares of the basic materials company’s stock worth $140,000 after buying an additional 2,600 shares during the last quarter. Advisor Group Inc. increased its position in shares of Hecla Mining by 148.1% in the second quarter. Advisor Group Inc. now owns 27,741 shares of the basic materials company’s stock worth $142,000 after buying an additional 16,561 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Hecla Mining during the second quarter worth approximately $143,000. Institutional investors and hedge funds own 57.98% of the company’s stock.
Hecla Mining (NYSE:HL) traded up 0.21% during midday trading on Friday, hitting $4.87. The stock had a trading volume of 4,648,187 shares. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 39.59 and a beta of 0.44. Hecla Mining has a 12-month low of $4.61 and a 12-month high of $7.64. The company has a 50-day moving average price of $5.12 and a 200-day moving average price of $5.48.
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 Zacks’ 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 firm had revenue of $134.30 million during the quarter, compared to the consensus estimate of $130.54 million. During the same quarter last year, the firm posted $0.06 earnings per share. Hecla Mining’s revenue was down 21.6% compared to the same quarter last year. Equities analysts anticipate that Hecla Mining will post $0.07 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Wednesday, August 23rd will be issued a $0.0025 dividend. The ex-dividend date is Monday, August 21st. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.21%. Hecla Mining’s dividend payout ratio (DPR) is 7.69%.
A number of research firms recently weighed in on HL. TheStreet lowered shares of Hecla Mining from a “b-” rating to a “c” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada set a $6.00 price target on shares of Hecla Mining and gave the company a “hold” rating in a research note on Monday, April 24th. ValuEngine lowered shares of Hecla Mining from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of Hecla Mining in a research note on Sunday, June 25th. Finally, BidaskClub lowered shares of Hecla Mining from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Hecla Mining presently has an average rating of “Hold” and a consensus target price of $6.94.
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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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