Bank of New York Mellon Corp Has $17.52 Million Stake in Hecla Mining Company $HL

Bank of New York Mellon Corp raised its position in shares of Hecla Mining Company (NYSE:HL) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,925,482 shares of the basic materials company’s stock after purchasing an additional 11,837 shares during the quarter. Bank of New York Mellon Corp owned 0.46% of Hecla Mining worth $17,524,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of HL. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Hecla Mining during the first quarter valued at $31,000. DRW Securities LLC acquired a new position in shares of Hecla Mining during the 1st quarter worth about $54,000. Tradition Wealth Management LLC bought a new stake in Hecla Mining during the 1st quarter valued at approximately $62,000. Abel Hall LLC bought a new stake in Hecla Mining during the 1st quarter valued at approximately $64,000. Finally, Mountain Capital Investment Advisors Inc. bought a new position in Hecla Mining in the 2nd quarter worth approximately $71,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised Hecla Mining from a “hold” rating to a “buy” rating in a research report on Sunday, November 2nd. CIBC upped their target price on shares of Hecla Mining from $12.50 to $15.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. BMO Capital Markets raised their price target on shares of Hecla Mining from $6.00 to $6.50 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Scotiabank assumed coverage on shares of Hecla Mining in a report on Thursday. They set a “sector perform” rating and a $15.00 price objective on the stock. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Hecla Mining in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.03.

Insiders Place Their Bets

In other news, VP Stuart Maurice Absolom sold 14,472 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $11.29, for a total value of $163,388.88. Following the sale, the vice president owned 73,200 shares of the company’s stock, valued at approximately $826,428. This represents a 16.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Russell Douglas Lawlar sold 18,535 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $15.02, for a total transaction of $278,395.70. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 181,379 shares of company stock worth $2,667,365 over the last quarter. Company insiders own 0.62% of the company’s stock.

Hecla Mining Price Performance

NYSE:HL opened at $14.61 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.99 and a current ratio of 2.67. The company has a 50-day moving average of $12.56 and a 200-day moving average of $8.47. Hecla Mining Company has a 52 week low of $4.46 and a 52 week high of $16.09. The company has a market capitalization of $9.79 billion, a price-to-earnings ratio of 91.29 and a beta of 1.29.

Hecla Mining (NYSE:HL) last posted its earnings results on Wednesday, November 5th. The basic materials company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Hecla Mining had a net margin of 9.55% and a return on equity of 5.51%. The business had revenue of $409.54 million for the quarter, compared to analysts’ expectations of $315.60 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The firm’s revenue for the quarter was up 67.1% on a year-over-year basis. As a group, equities research analysts anticipate that Hecla Mining Company will post 0.21 earnings per share for the current fiscal year.

Hecla Mining Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 24th will be given a $0.0038 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Monday, November 24th. Hecla Mining’s dividend payout ratio is 3.23%.

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.