Hecla Mining (NYSE:HL) Increases Dividend to $0.01 Per Share

Posted by Erica Schwartz on Aug 6th, 2022

Hecla Mining (NYSE:HL – Get Rating) declared a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Stockholders of record on Friday, August 19th will be given a dividend of 0.0063 per share by the basic materials company on Friday, September 2nd. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, August 18th. This is an increase from Hecla Mining’s previous quarterly dividend of $0.006.

Hecla Mining has a payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hecla Mining to earn $0.27 per share next year, which means the company should continue to be able to cover its $0.03 annual dividend with an expected future payout ratio of 11.1%.

Hecla Mining Stock Performance

Shares of HL stock opened at $4.65 on Friday. Hecla Mining has a twelve month low of $3.44 and a twelve month high of $7.66. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.44 and a current ratio of 1.83. The stock’s fifty day simple moving average is $4.27 and its 200 day simple moving average is $5.27.

Hecla Mining (NYSE:HL – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The basic materials company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $191.20 million for the quarter, compared to analyst estimates of $195.50 million. Hecla Mining had a return on equity of 2.02% and a net margin of 0.20%. Hecla Mining’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. On average, sell-side analysts predict that Hecla Mining will post 0.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HL has been the topic of a number of analyst reports. Roth Capital upgraded Hecla Mining from a “neutral” rating to a “buy” rating and reduced their price target for the company from $6.50 to $6.25 in a research report on Wednesday, May 11th. B. Riley cut their target price on Hecla Mining from $11.00 to $9.00 in a research report on Wednesday, May 11th. StockNews.com upgraded Hecla Mining from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. HC Wainwright upped their target price on Hecla Mining from $7.75 to $8.25 and gave the company a “buy” rating in a research report on Wednesday, April 13th. Finally, Canaccord Genuity Group cut their target price on Hecla Mining from $5.00 to $3.50 in a research report on Wednesday, July 6th.

Hedge Funds Weigh In On Hecla Mining

Several institutional investors have recently modified their holdings of HL. Envestnet Asset Management Inc. bought a new position in Hecla Mining during the first quarter valued at $111,000. Forum Financial Management LP boosted its holdings in shares of Hecla Mining by 51.1% in the first quarter. Forum Financial Management LP now owns 17,944 shares of the basic materials company’s stock worth $117,000 after acquiring an additional 6,068 shares during the period. Cetera Advisor Networks LLC boosted its holdings in shares of Hecla Mining by 138.2% in the first quarter. Cetera Advisor Networks LLC now owns 30,521 shares of the basic materials company’s stock worth $201,000 after acquiring an additional 17,708 shares during the period. Raymond James & Associates boosted its holdings in shares of Hecla Mining by 35.6% in the first quarter. Raymond James & Associates now owns 33,867 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 8,886 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Hecla Mining by 78.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,078 shares of the basic materials company’s stock worth $283,000 after acquiring an additional 18,996 shares during the period. 59.78% of the stock is owned by institutional investors.

Hecla Mining Company Profile

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Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal properties in the United States and internationally. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for sale to custom smelters, metal traders, and third-party processors,; and doré containing silver and gold.