State Street Corp Decreases Stock Holdings in Hecla Mining (NYSE:HL)

State Street Corp reduced its position in shares of Hecla Mining (NYSE:HL) by 14.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,189,111 shares of the basic materials company’s stock after selling 4,277,174 shares during the period. State Street Corp owned 4.17% of Hecla Mining worth $174,681,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Van ECK Associates Corp boosted its holdings in Hecla Mining by 4.3% in the third quarter. Van ECK Associates Corp now owns 54,680,051 shares of the basic materials company’s stock valued at $391,510,000 after acquiring an additional 2,238,559 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake 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 purchasing an additional 146,689 shares in the last quarter. Ninety One UK Ltd increased its position in shares of Hecla Mining by 17.0% during the second quarter. Ninety One UK Ltd now owns 8,219,231 shares of the basic materials company’s stock valued at $39,863,000 after buying an additional 1,196,515 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Hecla Mining by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,718,551 shares of the basic materials company’s stock valued at $44,813,000 after buying an additional 456,107 shares during the period. Finally, FMR LLC raised its stake in Hecla Mining by 51.3% in the third quarter. FMR LLC now owns 5,435,909 shares of the basic materials company’s stock worth $36,258,000 after buying an additional 1,842,991 shares in the last quarter. 63.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Hecla Mining

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

Analyst Ratings Changes

A number of research analysts have weighed in on HL shares. StockNews.com downgraded Hecla Mining from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. TD Securities dropped their price target on Hecla Mining from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, National Bank Financial downgraded Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.94.

Hecla Mining Stock Performance

Shares of HL opened at $5.54 on Friday. The company has a quick ratio of 0.54, a current ratio of 1.09 and a debt-to-equity ratio of 0.24. The stock has a market cap of $3.48 billion, a P/E ratio of -138.38 and a beta of 1.92. The business’s 50 day moving average price is $6.14 and its 200-day moving average price is $5.88. Hecla Mining has a 52 week low of $3.33 and a 52 week high of $7.68.

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

Hecla Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were given a dividend of $0.0138 per share. This represents a $0.06 annualized dividend and a yield of 0.99%. The ex-dividend date was Thursday, November 21st. Hecla Mining’s dividend payout ratio (DPR) is -125.00%.

Hecla Mining 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.