Great Lakes Advisors LLC decreased its holdings in Hecla Mining (NYSE:HL) by 97.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 47,980 shares of the basic materials company’s stock after selling 1,571,819 shares during the period. Great Lakes Advisors LLC’s holdings in Hecla Mining were worth $84,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. CWM Advisors LLC grew its holdings in shares of Hecla Mining by 46.1% during the 2nd quarter. CWM Advisors LLC now owns 91,780 shares of the basic materials company’s stock worth $165,000 after purchasing an additional 28,960 shares during the period. Aperio Group LLC grew its holdings in shares of Hecla Mining by 6.0% during the 2nd quarter. Aperio Group LLC now owns 225,450 shares of the basic materials company’s stock worth $406,000 after purchasing an additional 12,737 shares during the period. Alps Advisors Inc. grew its holdings in shares of Hecla Mining by 348.8% during the 2nd quarter. Alps Advisors Inc. now owns 1,752,151 shares of the basic materials company’s stock worth $3,154,000 after purchasing an additional 1,361,747 shares during the period. First Trust Advisors LP grew its holdings in shares of Hecla Mining by 24.3% during the 2nd quarter. First Trust Advisors LP now owns 631,418 shares of the basic materials company’s stock worth $1,137,000 after purchasing an additional 123,633 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Hecla Mining by 43.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 76,000 shares of the basic materials company’s stock worth $136,000 after purchasing an additional 22,936 shares during the period. Institutional investors own 55.91% of the company’s stock.
HL has been the subject of a number of research reports. BMO Capital Markets upgraded Hecla Mining from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $1.60 to $2.20 in a report on Thursday, November 7th. HC Wainwright boosted their target price on Hecla Mining from $3.00 to $3.75 and gave the stock a “buy” rating in a report on Monday, August 19th. Zacks Investment Research cut Hecla Mining from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Cantor Fitzgerald upgraded Hecla Mining from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, B. Riley decreased their target price on Hecla Mining from $2.30 to $1.80 and set a “neutral” rating for the company in a report on Friday, October 11th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $2.10.
Hecla Mining (NYSE:HL) last released its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). The company had revenue of $161.50 million during the quarter, compared to analysts’ expectations of $179.40 million. Hecla Mining had a negative return on equity of 5.71% and a negative net margin of 19.71%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.05) EPS. As a group, sell-side analysts forecast that Hecla Mining will post -0.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 22nd will be issued a $0.002 dividend. This represents a $0.01 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Thursday, November 21st. Hecla Mining’s dividend payout ratio is presently -9.09%.
About Hecla Mining
Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal properties worldwide. The company offers lead, zinc, and bulk flotation concentrates to custom smelters and brokers; and unrefined gold and silver bullion bars to precious metals traders.
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