MGO One Seven LLC Purchases New Stake in Hecla Mining Company $HL

MGO One Seven LLC acquired a new position in shares of Hecla Mining Company (NYSE:HL) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 31,601 shares of the basic materials company’s stock, valued at approximately $382,000.

Several other hedge funds have also recently bought and sold shares of HL. Transce3nd LLC bought a new stake in shares of Hecla Mining during the 2nd quarter worth approximately $25,000. USA Financial Formulas bought a new stake in Hecla Mining during the third quarter worth $25,000. EverSource Wealth Advisors LLC boosted its holdings 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 in the last quarter. Headlands Technologies LLC bought a new position in shares of Hecla Mining in the 2nd quarter valued at $44,000. Finally, Salomon & Ludwin LLC bought a new position in shares of Hecla Mining in the 3rd quarter valued at $49,000. 63.01% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Russell Douglas Lawlar sold 18,535 shares of the firm’s 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David C. Sienko sold 207,553 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $19.42, for a total value of $4,030,679.26. Following the completion of the sale, the vice president owned 906,370 shares in the company, valued at $17,601,705.40. The trade was a 18.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 426,679 shares of company stock valued at $7,678,773. Company insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on HL shares. Scotiabank initiated coverage on Hecla Mining in a research note on Thursday, November 13th. They issued a “sector perform” rating and a $15.00 price objective on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Hecla Mining in a research note on Monday, December 29th. Zacks Research raised shares of Hecla Mining from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. HC Wainwright increased their price objective on shares of Hecla Mining from $12.50 to $16.50 and gave the company a “buy” rating in a research note on Thursday, November 6th. Finally, Wall Street Zen upgraded shares of Hecla Mining from a “hold” rating to a “buy” rating in a research report on Sunday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.22.

Hecla Mining Trading Up 5.3%

HL opened at $26.55 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.15 and a quick ratio of 1.51. Hecla Mining Company has a fifty-two week low of $4.46 and a fifty-two week high of $26.58. The company’s 50 day moving average price is $18.39 and its two-hundred day moving average price is $12.67. The firm has a market capitalization of $17.79 billion, a price-to-earnings ratio of 85.65 and a beta of 1.28.

Hecla Mining (NYSE:HL) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. Hecla Mining had a net margin of 16.35% and a return on equity of 7.87%. The firm had revenue of $409.54 million during the quarter, compared to the consensus estimate of $315.60 million. During the same quarter last year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 67.1% on a year-over-year basis. As a group, research analysts predict that Hecla Mining Company will post 0.21 earnings per share for the current year.

Hecla Mining Dividend Announcement

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

About Hecla Mining

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.