Hecla Mining (NYSE:HL) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Hecla Mining (NYSE:HL) issued its earnings results on Tuesday. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01), FiscalAI reports. Hecla Mining had a net margin of 17.41% and a return on equity of 16.89%. The firm had revenue of $333.85 million during the quarter, compared to analysts’ expectations of $368.75 million. During the same quarter in the prior year, the company earned $0.09 EPS. Hecla Mining’s quarterly revenue was up 9.8% on a year-over-year basis.

Hecla Mining Price Performance

NYSE:HL opened at $15.44 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.94 and a quick ratio of 4.53. The company has a 50 day moving average price of $15.57 and a 200-day moving average price of $19.08. Hecla Mining has a 1-year low of $5.86 and a 1-year high of $34.17. The firm has a market cap of $10.35 billion, a price-to-earnings ratio of 37.65 and a beta of 1.32.

Hecla Mining Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be issued a dividend of $0.0038 per share. This represents a $0.01 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, August 26th. Hecla Mining’s payout ratio is 2.44%.

Institutional Trading of Hecla Mining

A number of hedge funds have recently added to or reduced their stakes in HL. Quadrant Capital Group LLC increased its holdings in Hecla Mining by 74.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company’s stock valued at $28,000 after buying an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Hecla Mining by 134.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,670 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 957 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Hecla Mining by 255.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 4,425 shares in the last quarter. Allianz SE acquired a new position in Hecla Mining in the 4th quarter worth about $38,000. Finally, Parallel Advisors LLC boosted its position in Hecla Mining by 33.9% during the fourth quarter. Parallel Advisors LLC now owns 2,011 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 509 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Zacks Research upgraded shares of Hecla Mining to a “hold” rating in a research note on Friday, July 17th. Canaccord Genuity Group upgraded shares of Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Wednesday, April 29th. HC Wainwright reduced their target price on shares of Hecla Mining from $36.50 to $26.75 and set a “buy” rating for the company in a report on Wednesday, May 6th. Scotiabank lowered their price target on shares of Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Finally, Weiss Ratings downgraded Hecla Mining from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, June 5th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.12.

Hecla Mining Company Profile

Hecla Mining Company, founded in 1891 and headquartered in Coeur d’Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d’Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.

The company’s principal operations are located in North America and Latin America.