Hecla Mining Company (HL) Short Interest Update
Hecla Mining Company (NYSE:HL) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 17,312,451 shares, a growth of 32.7% from the July 31st total of 13,045,444 shares. Based on an average trading volume of 4,477,566 shares, the days-to-cover ratio is currently 3.9 days. Approximately 4.4% of the shares of the stock are sold short.
Shares of Hecla Mining (NYSE HL) opened at 5.33 on Friday. Hecla Mining has a 12 month low of $4.61 and a 12 month high of $7.64. The stock has a market capitalization of $2.13 billion, a P/E ratio of 43.33 and a beta of 0.44. The firm has a 50 day moving average of $5.14 and a 200-day moving average of $5.38.
Hecla Mining (NYSE:HL) last posted its quarterly earnings data on Thursday, August 3rd. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by $0.05. The firm had revenue of $134.30 million for the quarter, compared to analysts’ expectations of $130.54 million. Hecla Mining had a net margin of 7.88% and a return on equity of 2.56%. The company’s revenue for the quarter was down 21.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 EPS. Analysts forecast that Hecla Mining will post $0.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Wednesday, August 23rd were paid a $0.0025 dividend. The ex-dividend date of this dividend was Monday, August 21st. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.19%. Hecla Mining’s dividend payout ratio (DPR) is presently 7.69%.
Hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its stake in shares of Hecla Mining by 5.0% in the second quarter. Ameritas Investment Partners Inc. now owns 34,608 shares of the basic materials company’s stock worth $177,000 after buying an additional 1,643 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Hecla Mining by 2.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 97,242 shares of the basic materials company’s stock worth $496,000 after buying an additional 2,784 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Hecla Mining by 2.4% in the second quarter. The Manufacturers Life Insurance Company now owns 299,458 shares of the basic materials company’s stock worth $1,528,000 after buying an additional 6,899 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Hecla Mining during the second quarter worth about $377,000. Finally, Balyasny Asset Management LLC raised its stake in shares of Hecla Mining by 395.8% in the second quarter. Balyasny Asset Management LLC now owns 112,500 shares of the basic materials company’s stock worth $574,000 after buying an additional 89,810 shares during the period. Institutional investors and hedge funds own 59.36% of the company’s stock.
Several research firms have weighed in on HL. ValuEngine upgraded shares of Hecla Mining from a “sell” rating to a “hold” rating in a report on Friday. HC Wainwright reiterated a “buy” rating and issued a $8.50 target price on shares of Hecla Mining in a report on Tuesday. TheStreet lowered shares of Hecla Mining from a “b-” rating to a “c” rating in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of Hecla Mining from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, BidaskClub lowered shares of Hecla Mining from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.01.
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Hecla Mining Company Profile
Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Company and its subsidiaries provide precious and base metals to the United States and around the world. It produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver.
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