Public Employees Retirement System of Ohio Takes Position in Hecla Mining Company $HL

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

Several other hedge funds have also recently made changes to their positions in HL. Parallel Advisors LLC boosted its holdings in Hecla Mining by 33.9% in 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 during the last quarter. Root Financial Partners LLC grew its position in Hecla Mining by 26.9% in the 1st quarter. Root Financial Partners LLC now owns 2,540 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 538 shares during the period. Quadrant Capital Group LLC raised its stake in Hecla Mining by 74.3% during the 4th 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 during the last quarter. Toronto Dominion Bank raised its stake in Hecla Mining by 5.4% during the 4th quarter. Toronto Dominion Bank now owns 12,494 shares of the basic materials company’s stock valued at $239,000 after buying an additional 644 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of Hecla Mining by 4.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 16,844 shares of the basic materials company’s stock valued at $314,000 after buying an additional 722 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

Hecla Mining Price Performance

Shares of HL stock opened at $20.68 on Friday. Hecla Mining Company has a one year low of $8.83 and a one year high of $34.17. The company’s fifty day moving average price is $17.10 and its 200-day moving average price is $18.14. The company has a market capitalization of $13.89 billion, a price-to-earnings ratio of 42.20 and a beta of 1.38.

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

Hecla Mining Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings upgraded Hecla Mining from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Jefferies Financial Group initiated coverage on Hecla Mining in a report on Thursday, August 20th. They issued a “hold” rating and a $22.00 target price on the stock. Zacks Research raised 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 note on Saturday, May 9th. Finally, Scotiabank cut 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. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.82.

About Hecla Mining

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.