Hecla Mining (NYSE:HL) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 18,941,177 shares, a growth of 16.8% from the August 15th total of 16,213,279 shares. Based on an average trading volume of 4,651,027 shares, the days-to-cover ratio is presently 4.1 days. Currently, 4.0% of the company’s stock are sold short.
HL opened at $3.00 on Tuesday. Hecla Mining has a fifty-two week low of $2.59 and a fifty-two week high of $5.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.35 and a quick ratio of 2.77. The stock has a market cap of $1.40 billion, a PE ratio of 30.00, a PEG ratio of 91.88 and a beta of 0.14.
Hecla Mining (NYSE:HL) last issued its quarterly earnings data on Thursday, August 9th. The basic materials company reported $0.01 earnings per share for the quarter. Hecla Mining had a positive return on equity of 2.91% and a negative net margin of 1.02%. The business had revenue of $147.30 million for the quarter, compared to the consensus estimate of $143.33 million. During the same period last year, the business earned ($0.04) EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. research analysts forecast that Hecla Mining will post 0.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Friday, August 24th were paid a $0.0025 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Thursday, August 23rd. Hecla Mining’s payout ratio is 10.00%.
A number of brokerages have commented on HL. BMO Capital Markets restated a “hold” rating and set a $3.50 price objective (down from $4.00) on shares of Hecla Mining in a research report on Thursday, August 9th. ValuEngine upgraded Hecla Mining from a “strong sell” rating to a “sell” rating in a research report on Monday. Zacks Investment Research lowered Hecla Mining from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Roth Capital initiated coverage on Hecla Mining in a research note on Monday, September 10th. They set a “buy” rating and a $5.00 price target for the company. Finally, Canaccord Genuity downgraded Hecla Mining from a “buy” rating to a “hold” rating and set a $3.75 price target for the company. in a research note on Friday, July 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $4.81.
Several hedge funds have recently modified their holdings of HL. Van ECK Associates Corp raised its stake in shares of Hecla Mining by 7.4% in the 2nd quarter. Van ECK Associates Corp now owns 44,849,502 shares of the basic materials company’s stock valued at $156,076,000 after acquiring an additional 3,102,585 shares in the last quarter. BlackRock Inc. raised its stake in shares of Hecla Mining by 8.3% in the 2nd quarter. BlackRock Inc. now owns 27,987,889 shares of the basic materials company’s stock valued at $97,399,000 after acquiring an additional 2,146,765 shares in the last quarter. Global X Management Co LLC raised its stake in shares of Hecla Mining by 34.1% in the 2nd quarter. Global X Management Co LLC now owns 5,639,768 shares of the basic materials company’s stock valued at $19,626,000 after acquiring an additional 1,435,562 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in shares of Hecla Mining by 40.5% in the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 3,349,211 shares of the basic materials company’s stock valued at $12,291,000 after acquiring an additional 965,000 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Hecla Mining in the 1st quarter valued at approximately $2,655,000. 51.96% of the stock is currently owned by institutional investors and hedge funds.
Hecla Mining Company Profile
Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal deposits worldwide. The company offers zinc, lead, and bulk flotation concentrates to custom smelters and brokers; and unrefined gold and silver bullion bars to precious metals traders.
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