Geode Capital Management LLC Purchases 711,676 Shares of Hecla Mining (NYSE:HL)

Geode Capital Management LLC grew its holdings in Hecla Mining (NYSE:HL) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,865,241 shares of the basic materials company’s stock after purchasing an additional 711,676 shares during the quarter. Geode Capital Management LLC’s holdings in Hecla Mining were worth $92,499,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Hecla Mining during the third quarter worth $28,000. Innealta Capital LLC bought a new position in Hecla Mining during the second quarter worth about $41,000. Sound Income Strategies LLC acquired a new position in shares of Hecla Mining during the 3rd quarter worth about $49,000. Ballentine Partners LLC bought a new stake in shares of Hecla Mining in the 2nd quarter valued at about $54,000. Finally, SPC Financial Inc. acquired a new stake in shares of Hecla Mining in the 2nd quarter valued at approximately $67,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. TD Securities lowered their target price on shares of Hecla Mining from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Friday, November 8th. StockNews.com cut shares of Hecla Mining from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Finally, National Bank Financial lowered Hecla Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.94.

Hecla Mining Trading Down 1.2 %

NYSE:HL opened at $4.95 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. Hecla Mining has a twelve month low of $3.33 and a twelve month high of $7.68. The company has a market cap of $3.11 billion, a P/E ratio of -123.75 and a beta of 1.92. The business has a 50 day moving average price of $6.01 and a two-hundred day moving average price of $5.85.

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

Hecla Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were issued a $0.0138 dividend. This represents a $0.06 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, November 21st. Hecla Mining’s payout ratio is presently -125.00%.

Hecla Mining Company 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.