SPC Financial Inc. Purchases New Position in Hecla Mining (NYSE:HL)

SPC Financial Inc. acquired a new stake in Hecla Mining (NYSE:HL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,800 shares of the basic materials company’s stock, valued at approximately $67,000.

Other hedge funds also recently made changes to their positions in the company. Empowered Funds LLC lifted its holdings in shares of Hecla Mining by 27.7% in the 1st quarter. Empowered Funds LLC now owns 13,447 shares of the basic materials company’s stock valued at $65,000 after purchasing an additional 2,916 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Hecla Mining by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 338,040 shares of the basic materials company’s stock worth $1,639,000 after buying an additional 2,939 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in Hecla Mining by 8.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,553 shares of the basic materials company’s stock valued at $216,000 after buying an additional 3,386 shares during the last quarter. Rathbones Group PLC boosted its holdings in shares of Hecla Mining by 12.1% in the second quarter. Rathbones Group PLC now owns 40,729 shares of the basic materials company’s stock valued at $198,000 after acquiring an additional 4,400 shares during the period. Finally, Sei Investments Co. grew its position in shares of Hecla Mining by 2.4% during the second quarter. Sei Investments Co. now owns 190,504 shares of the basic materials company’s stock worth $924,000 after acquiring an additional 4,514 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on HL shares. Roth Mkm decreased their price target on shares of Hecla Mining from $6.25 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. HC Wainwright reissued a “buy” rating and set a $10.25 price target on shares of Hecla Mining in a report on Thursday, August 8th. Finally, StockNews.com upgraded Hecla Mining from a “sell” rating to a “hold” rating in a research report on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Hecla Mining has an average rating of “Moderate Buy” and an average price target of $7.56.

Hecla Mining Trading Down 2.0 %

NYSE HL opened at $6.54 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 1.29 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $4.09 billion, a P/E ratio of -43.57 and a beta of 2.00. Hecla Mining has a 52-week low of $3.33 and a 52-week high of $7.40. The firm has a 50-day moving average price of $5.93 and a 200 day moving average price of $5.51.

Hecla Mining (NYSE:HL) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. Hecla Mining had a negative return on equity of 0.42% and a negative net margin of 5.56%. The business had revenue of $245.66 million during the quarter, compared to analysts’ expectations of $208.80 million. During the same period last year, the firm earned $0.03 EPS. Equities research analysts expect that Hecla Mining will post 0.05 EPS for the current year.

Hecla Mining Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 26th were paid a dividend of $0.0138 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Monday, August 26th. This is an increase from Hecla Mining’s previous quarterly dividend of $0.00. Hecla Mining’s payout ratio is -33.33%.

Insiders Place Their Bets

In other news, VP Kurt Allen sold 108,612 shares of the company’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 sale, the vice president now directly owns 173,700 shares in the company, valued at $1,175,949. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by company insiders.

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.