Shares of Hecla Mining (NYSE:HL) gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $2.72, but opened at $2.74. Hecla Mining shares last traded at $2.74, with a volume of 44128 shares trading hands.
The basic materials company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). The firm had revenue of $136.50 million during the quarter, compared to analyst estimates of $148.84 million. Hecla Mining had a negative net margin of 5.18% and a positive return on equity of 0.60%. Hecla Mining’s revenue was down 14.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.07) earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 13th. Shareholders of record on Tuesday, March 5th will be paid a $0.0025 dividend. The ex-dividend date of this dividend is Monday, March 4th. This represents a $0.01 annualized dividend and a yield of 0.39%. Hecla Mining’s dividend payout ratio (DPR) is 10.00%.
Several brokerages have weighed in on HL. ValuEngine downgraded shares of Hecla Mining from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. HC Wainwright set a $7.00 target price on shares of Hecla Mining and gave the company a “buy” rating in a research note on Friday, November 9th. Canaccord Genuity upgraded shares of Hecla Mining from a “sell” rating to a “hold” rating in a research note on Friday, November 9th. Zacks Investment Research upgraded shares of Hecla Mining from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 20th. Finally, B. Riley set a $4.00 price objective on shares of Hecla Mining and gave the stock a “buy” rating in a research note on Monday, November 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $4.40.
Several large investors have recently bought and sold shares of HL. Northern Trust Corp lifted its stake in shares of Hecla Mining by 2.4% during the second quarter. Northern Trust Corp now owns 4,889,054 shares of the basic materials company’s stock worth $17,014,000 after buying an additional 114,575 shares during the period. First Quadrant L P CA acquired a new stake in shares of Hecla Mining during the third quarter worth $895,000. Xact Kapitalforvaltning AB lifted its position in Hecla Mining by 70.7% during the third quarter. Xact Kapitalforvaltning AB now owns 113,216 shares of the basic materials company’s stock valued at $316,000 after purchasing an additional 46,900 shares during the period. First Trust Advisors LP lifted its position in Hecla Mining by 27.8% during the third quarter. First Trust Advisors LP now owns 353,906 shares of the basic materials company’s stock valued at $987,000 after purchasing an additional 76,902 shares during the period. Finally, Congress Asset Management Co. MA acquired a new position in Hecla Mining during the third quarter valued at $3,428,000. Institutional investors and hedge funds own 58.62% of the company’s stock.
The stock has a market cap of $1.41 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 732.50 and a beta of 0.50. The company has a current ratio of 1.50, a quick ratio of 0.92 and a debt-to-equity ratio of 0.32.
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About Hecla Mining (NYSE:HL)
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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