Pekin Hardy Strauss Inc. Sells 7,650 Shares of Hecla Mining (NYSE:HL)

Pekin Hardy Strauss Inc. cut its holdings in Hecla Mining (NYSE:HL) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,400 shares of the basic materials company’s stock after selling 7,650 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Hecla Mining were worth $1,117,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HL. Vanguard Group Inc. raised its holdings in shares of Hecla Mining by 2.6% during the first quarter. Vanguard Group Inc. now owns 59,420,114 shares of the basic materials company’s stock valued at $285,811,000 after purchasing an additional 1,506,573 shares during the last quarter. Van ECK Associates Corp raised its stake in Hecla Mining by 4.3% during the 3rd quarter. Van ECK Associates Corp now owns 54,680,051 shares of the basic materials company’s stock valued at $391,510,000 after buying an additional 2,238,559 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Hecla Mining by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 34,644,620 shares of the basic materials company’s stock valued at $168,027,000 after buying an additional 146,689 shares during the period. Tidal Investments LLC purchased a new position in shares of Hecla Mining in the 1st quarter worth $42,576,000. Finally, Ninety One UK Ltd grew its holdings in shares of Hecla Mining by 17.0% in the second quarter. Ninety One UK Ltd now owns 8,219,231 shares of the basic materials company’s stock worth $39,863,000 after acquiring an additional 1,196,515 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on HL shares. HC Wainwright reissued a “buy” rating and issued a $10.25 target price on shares of Hecla Mining in a research report on Thursday, August 8th. National Bank Financial downgraded shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. StockNews.com cut shares of Hecla Mining from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. Roth Mkm dropped their price target on shares of Hecla Mining from $6.25 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, TD Securities cut their price objective on shares of Hecla Mining from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.94.

Hecla Mining Stock Performance

Shares of NYSE:HL opened at $5.52 on Monday. The firm’s 50 day simple moving average is $6.47 and its two-hundred day simple moving average is $5.89. The company has a quick ratio of 0.54, a current ratio of 1.09 and a debt-to-equity ratio of 0.24. Hecla Mining has a 1-year low of $3.33 and a 1-year high of $7.68.

Hecla Mining (NYSE:HL) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The company had revenue of $245.09 million during the quarter, compared to the consensus estimate of $232.03 million. Hecla Mining had a negative net margin of 2.27% and a positive return on equity of 0.75%. Hecla Mining’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. On average, research analysts anticipate that Hecla Mining will post 0.06 EPS for the current year.

Hecla Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Thursday, November 21st will be paid a dividend of $0.0138 per share. This represents a $0.06 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, November 21st. Hecla Mining’s dividend payout ratio (DPR) is presently -125.00%.

Insider Buying and Selling

In other Hecla Mining news, VP Kurt Allen sold 108,612 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $6.77, for a total transaction of $735,303.24. Following the completion of the transaction, the vice president now owns 173,700 shares of the company’s stock, valued at $1,175,949. This represents a 38.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by insiders.

About Hecla Mining

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.