Public Employees Retirement System of Ohio Acquires Shares of 182,972 Hecla Mining Company $HL

Public Employees Retirement System of Ohio acquired a new stake in shares of Hecla Mining Company (NYSE:HL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 182,972 shares of the basic materials company’s stock, valued at approximately $2,823,000.

Several other hedge funds have also recently modified their holdings of the stock. Capstone Investment Advisors LLC purchased a new position in Hecla Mining during the second quarter valued at $167,000. Parvin Asset Management LLC bought a new stake in Hecla Mining in the 2nd quarter valued at $2,532,000. Corient Private Wealth LP purchased a new stake in Hecla Mining in the 2nd quarter worth $491,000. Bank of America Corp DE purchased a new stake in Hecla Mining in the 2nd quarter worth $17,501,000. Finally, Gallagher Fiduciary Advisors LLC bought a new position in shares of Hecla Mining during the 2nd quarter valued at about $308,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HL. Zacks Research upgraded Hecla Mining to a “hold” rating in a research report on Friday, July 17th. Wall Street Zen downgraded Hecla Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Scotiabank dropped their price target on Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Jefferies Financial Group started coverage on Hecla Mining in a report on Thursday, August 20th. They set a “hold” rating and a $22.00 price target for the company. Finally, Weiss Ratings raised Hecla Mining from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Hecla Mining currently has a consensus rating of “Hold” and a consensus target price of $23.82.

Hecla Mining Price Performance

Shares of NYSE HL opened at $20.68 on Friday. The company has a market cap of $13.89 billion, a P/E ratio of 42.20 and a beta of 1.38. Hecla Mining Company has a 1 year low of $8.83 and a 1 year high of $34.17. The firm has a 50-day simple moving average of $17.10 and a two-hundred day simple moving average of $18.14.

Hecla Mining (NYSE:HL) last announced its earnings results on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%. The business had revenue of $333.85 million for the quarter, compared to analysts’ expectations of $368.75 million. During the same quarter last year, the firm earned $0.09 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts expect that Hecla Mining Company will post 0.46 EPS for the current year.

Hecla Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be given a $0.0038 dividend. This represents a $0.01 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, August 26th. Hecla Mining’s dividend payout ratio is 2.04%.

Hecla Mining 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.