State of Alaska Department of Revenue Buys New Stake in Hecla Mining Company $HL

State of Alaska Department of Revenue purchased a new position in shares of Hecla Mining Company (NYSE:HL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 359,178 shares of the basic materials company’s stock, valued at approximately $4,345,000. State of Alaska Department of Revenue owned approximately 0.05% of Hecla Mining at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Transce3nd LLC purchased a new position in shares of Hecla Mining during the second quarter worth about $25,000. USA Financial Formulas purchased a new stake in shares of Hecla Mining in the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC boosted its position in shares of Hecla Mining by 255.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 4,425 shares during the period. Headlands Technologies LLC purchased a new position in Hecla Mining during the 2nd quarter worth approximately $44,000. Finally, Salomon & Ludwin LLC acquired a new position in Hecla Mining during the third quarter worth approximately $49,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Hecla Mining Stock Up 7.0%

Shares of Hecla Mining stock opened at $22.48 on Monday. Hecla Mining Company has a one year low of $4.46 and a one year high of $22.62. The company has a market cap of $15.06 billion, a P/E ratio of 72.50 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.51 and a current ratio of 2.15. The firm has a fifty day moving average of $17.19 and a two-hundred day moving average of $12.01.

Hecla Mining (NYSE:HL) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $409.54 million for the quarter, compared to analyst estimates of $315.60 million. Hecla Mining had a net margin of 16.35% and a return on equity of 7.87%. The business’s revenue was up 67.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 earnings per share. On average, analysts forecast that Hecla Mining Company will post 0.21 earnings per share for the current year.

Hecla Mining Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, November 24th were issued a $0.0038 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, November 24th. Hecla Mining’s dividend payout ratio (DPR) is currently 3.23%.

Insider Activity at Hecla Mining

In related news, VP David C. Sienko sold 207,553 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $19.42, for a total transaction of $4,030,679.26. Following the transaction, the vice president owned 906,370 shares of the company’s stock, valued at $17,601,705.40. This represents a 18.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Kurt Allen sold 52,219 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $21.91, for a total value of $1,144,118.29. Following the completion of the sale, the vice president directly owned 216,641 shares of the company’s stock, valued at approximately $4,746,604.31. This trade represents a 19.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 426,679 shares of company stock worth $7,678,773 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Hecla Mining in a report on Monday, December 29th. Wall Street Zen upgraded shares of Hecla Mining from a “hold” rating to a “buy” rating in a research report on Sunday, November 2nd. CIBC raised their price objective on shares of Hecla Mining from $15.00 to $16.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 25th. Roth Capital set a $8.75 price objective on shares of Hecla Mining and gave the company a “sell” rating in a research note on Friday, October 3rd. Finally, Scotiabank started coverage on shares of Hecla Mining in a report on Thursday, November 13th. They issued a “sector perform” rating and a $15.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.22.

Hecla Mining Company Profile

Hecla Mining Company, founded in 1891 and headquartered in Coeur d’Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d’Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.

The company’s principal operations are located in North America and Latin America.