Empowered Funds LLC Takes $22.60 Million Position in Hecla Mining Company $HL

Empowered Funds LLC bought a new position in shares of Hecla Mining Company (NYSE:HL) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 1,464,619 shares of the basic materials company’s stock, valued at approximately $22,599,000.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Hecla Mining during the 2nd quarter worth $1,085,779,000. Arrowstreet Capital Limited Partnership boosted its stake in Hecla Mining by 86.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,715,100 shares of the basic materials company’s stock valued at $244,003,000 after buying an additional 5,906,313 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Hecla Mining by 40.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,052,346 shares of the basic materials company’s stock valued at $102,144,000 after acquiring an additional 4,928,130 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Hecla Mining in the fourth quarter valued at about $88,417,000. Finally, State Street Corp raised its stake in Hecla Mining by 14.8% during the third quarter. State Street Corp now owns 34,485,817 shares of the basic materials company’s stock worth $417,278,000 after acquiring an additional 4,453,706 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Zacks Research raised shares of Hecla Mining to a “hold” rating in a report on Friday, July 17th. Weiss Ratings upgraded shares of Hecla Mining from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Wall Street Zen downgraded shares of Hecla Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Scotiabank decreased their target price on shares of Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Finally, HC Wainwright lowered their price target on shares of Hecla Mining from $36.50 to $26.75 and set a “buy” rating for the company in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $23.82.

Hecla Mining Stock Performance

Shares of NYSE HL opened at $21.41 on Friday. The firm has a 50 day moving average price of $16.50 and a two-hundred day moving average price of $18.21. The stock has a market cap of $14.38 billion, a P/E ratio of 43.70 and a beta of 1.32. Hecla Mining Company has a 52-week low of $8.02 and a 52-week high of $34.17.

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

Hecla Mining Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be given a dividend of $0.0038 per share. 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 (DPR) is currently 2.04%.

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.