Hsbc Holdings PLC Lowers Holdings in Hecla Mining Company $HL

Hsbc Holdings PLC trimmed its position in Hecla Mining Company (NYSE:HL) by 10.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,662 shares of the basic materials company’s stock after selling 8,442 shares during the quarter. Hsbc Holdings PLC’s holdings in Hecla Mining were worth $397,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Hecla Mining in the 1st quarter worth $31,000. PFG Investments LLC purchased a new stake in shares of Hecla Mining in the 1st quarter worth $56,000. Ground Swell Capital LLC purchased a new stake in shares of Hecla Mining in the 4th quarter worth $57,000. Hohimer Wealth Management LLC bought a new position in shares of Hecla Mining in the 1st quarter worth $58,000. Finally, CTC Alternative Strategies Ltd. bought a new position in shares of Hecla Mining in the 4th quarter worth $59,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Hecla Mining Stock Up 4.7%

Shares of HL stock opened at $8.91 on Wednesday. Hecla Mining Company has a 1-year low of $4.46 and a 1-year high of $8.94. The stock’s fifty day moving average price is $6.71 and its 200 day moving average price is $5.92. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 1.99. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 55.72 and a beta of 1.29.

Hecla Mining (NYSE:HL) last announced its earnings results on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Hecla Mining had a return on equity of 5.51% and a net margin of 9.55%.The firm had revenue of $304.03 million for the quarter, compared to the consensus estimate of $248.93 million. During the same period in the previous year, the business earned $0.02 EPS. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, research analysts expect that Hecla Mining Company will post 0.21 earnings per share for the current fiscal year.

Hecla Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 22nd will be paid a dividend of $0.0038 per share. This represents a $0.02 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, August 22nd. Hecla Mining’s payout ratio is 6.25%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen raised Hecla Mining from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. National Bank Financial raised Hecla Mining to a “hold” rating in a research report on Thursday, June 12th. HC Wainwright boosted their price target on Hecla Mining from $11.50 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, August 7th. BMO Capital Markets boosted their price target on Hecla Mining from $6.00 to $6.50 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Finally, Roth Capital reissued a “neutral” rating on shares of Hecla Mining in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.36.

Insiders Place Their Bets

In other Hecla Mining news, VP Stuart Maurice Absolom sold 18,926 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $6.66, for a total transaction of $126,047.16. Following the sale, the vice president owned 59,410 shares in the company, valued at approximately $395,670.60. The trade was a 24.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.

Hecla Mining Company 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.