Bank of New York Mellon Corp Increases Stock Holdings in Hecla Mining Company (NYSE:HL)

Bank of New York Mellon Corp increased its stake in shares of Hecla Mining Company (NYSE:HL) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,913,645 shares of the basic materials company’s stock after buying an additional 115,512 shares during the quarter. Bank of New York Mellon Corp owned 0.46% of Hecla Mining worth $16,200,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HL. Raymond James Financial Inc. bought a new position in Hecla Mining in the 4th quarter valued at $1,640,000. JPMorgan Chase & Co. raised its holdings in shares of Hecla Mining by 20.3% in the 4th quarter. JPMorgan Chase & Co. now owns 4,189,473 shares of the basic materials company’s stock worth $20,570,000 after purchasing an additional 707,712 shares during the period. Vanguard Group Inc. grew its stake in shares of Hecla Mining by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 61,393,040 shares of the basic materials company’s stock worth $301,440,000 after acquiring an additional 774,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Hecla Mining by 8.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,578,828 shares of the basic materials company’s stock worth $7,752,000 after acquiring an additional 127,756 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of Hecla Mining in the fourth quarter valued at approximately $259,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Hecla Mining Stock Performance

NYSE HL opened at $5.81 on Friday. The company has a current ratio of 1.43, a quick ratio of 0.75 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $5.70 and its two-hundred day moving average is $5.57. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 52.82 and a beta of 1.47. Hecla Mining Company has a 12-month low of $4.41 and a 12-month high of $7.68.

Hecla Mining (NYSE:HL) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). Hecla Mining had a return on equity of 3.87% and a net margin of 7.13%. The company had revenue of $261.34 million for the quarter, compared to analyst estimates of $238.50 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The company’s revenue for the quarter was up 37.9% on a year-over-year basis. Research analysts expect that Hecla Mining Company will post 0.21 EPS for the current year.

Hecla Mining Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.0038 per share. The ex-dividend date was Friday, May 23rd. This represents a $0.02 annualized dividend and a yield of 0.26%. Hecla Mining’s dividend payout ratio is presently 9.09%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HL. CIBC boosted their price objective on shares of Hecla Mining from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. BMO Capital Markets restated a “market perform” rating and issued a $5.50 price objective (down from $7.50) on shares of Hecla Mining in a report on Monday, May 5th. Roth Capital reissued a “neutral” rating and issued a $6.00 price target on shares of Hecla Mining in a research report on Tuesday, July 1st. TD Securities lowered their price target on shares of Hecla Mining from $6.00 to $5.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Finally, National Bank Financial upgraded Hecla Mining to a “hold” rating in a research note on Thursday, June 12th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.07.

Insider Transactions at Hecla Mining

In other Hecla Mining news, Director Catherine J. Boggs purchased 20,000 shares of Hecla Mining stock in a transaction on Wednesday, May 7th. The stock was bought at an average price of $4.99 per share, for a total transaction of $99,800.00. Following the transaction, the director owned 348,169 shares of the company’s stock, valued at $1,737,363.31. The trade was a 6.09% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Stuart Maurice Absolom sold 18,926 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $6.66, for a total transaction of $126,047.16. Following the completion of the transaction, the vice president owned 59,410 shares of the company’s stock, valued at $395,670.60. This represents a 24.16% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

Hecla Mining Profile

Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States, Canada, Japan, Korea, and China. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for custom smelters, metal traders, and third-party processors; and doré containing silver and gold.