Sound Income Strategies LLC Acquires Shares of 7,355 Hecla Mining (NYSE:HL)

Sound Income Strategies LLC acquired a new position in shares of Hecla Mining (NYSE:HL) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 7,355 shares of the basic materials company’s stock, valued at approximately $49,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HL. Virtu Financial LLC purchased a new stake in Hecla Mining during the 4th quarter worth about $628,000. Wellington Management Group LLP boosted its stake in Hecla Mining by 6.2% in the fourth quarter. Wellington Management Group LLP now owns 1,762,303 shares of the basic materials company’s stock valued at $8,477,000 after acquiring an additional 103,136 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Hecla Mining by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 57,913,541 shares of the basic materials company’s stock worth $278,564,000 after purchasing an additional 345,694 shares during the last quarter. PCG Wealth Advisors LLC purchased a new position in Hecla Mining during the 1st quarter worth approximately $487,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Hecla Mining by 6.8% in the first quarter. Van ECK Associates Corp now owns 60,513,592 shares of the basic materials company’s stock valued at $291,070,000 after acquiring an additional 3,827,580 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Hecla Mining Stock Down 1.1 %

Shares of NYSE:HL opened at $6.56 on Tuesday. 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 company has a market cap of $4.11 billion, a price-to-earnings ratio of -43.70 and a beta of 2.01. Hecla Mining has a fifty-two week low of $3.33 and a fifty-two week high of $7.40. The firm’s 50-day simple moving average is $6.12 and its 200-day simple moving average is $5.65.

Hecla Mining (NYSE:HL) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $245.66 million during the quarter, compared to the consensus estimate of $208.80 million. During the same quarter last year, the company earned $0.03 earnings per share. As a group, equities research analysts predict that Hecla Mining will post 0.07 earnings per share 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 is a positive change from Hecla Mining’s previous quarterly dividend of $0.00. The ex-dividend date was Monday, August 26th. This represents a $0.06 annualized dividend and a dividend yield of 0.84%. Hecla Mining’s payout ratio is -33.33%.

Analyst Upgrades and Downgrades

Several research firms recently commented on HL. Roth Mkm reduced 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 report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and set a $10.25 target price on shares of Hecla Mining in a research note on Thursday, August 8th. Finally, StockNews.com upgraded Hecla Mining from a “sell” rating to a “hold” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Hecla Mining has a consensus rating of “Moderate Buy” and an average price target of $7.56.

Insider Buying and Selling

In related news, VP Kurt Allen sold 108,612 shares of Hecla Mining stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $6.77, for a total transaction of $735,303.24. Following the completion of the transaction, the vice president now directly owns 173,700 shares of the company’s stock, valued at approximately $1,175,949. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

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.