State Street Corp Sells 4,277,174 Shares of Hecla Mining (NYSE:HL)

State Street Corp reduced its holdings in shares of Hecla Mining (NYSE:HL) by 14.0% in the third quarter, Holdings Channel reports. The institutional investor owned 26,189,111 shares of the basic materials company’s stock after selling 4,277,174 shares during the period. State Street Corp’s holdings in Hecla Mining were worth $174,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Encompass Capital Advisors LLC bought a new stake in Hecla Mining during the 2nd quarter worth approximately $19,714,000. Van ECK Associates Corp increased its stake in shares of Hecla Mining by 4.3% in the third quarter. Van ECK Associates Corp now owns 54,680,051 shares of the basic materials company’s stock worth $391,510,000 after purchasing an additional 2,238,559 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Hecla Mining in the third quarter worth $14,623,000. FMR LLC raised its position in shares of Hecla Mining by 51.3% during the 3rd quarter. FMR LLC now owns 5,435,909 shares of the basic materials company’s stock valued at $36,258,000 after purchasing an additional 1,842,991 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Hecla Mining during the 2nd quarter valued at $6,280,000. 63.01% of the stock is currently owned by institutional investors.

Hecla Mining Trading Down 5.4 %

Shares of Hecla Mining stock opened at $5.54 on Friday. Hecla Mining has a twelve month low of $3.33 and a twelve month high of $7.68. The company has a quick ratio of 0.54, a current ratio of 1.09 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $6.14 and a 200-day moving average price of $5.88. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -138.38 and a beta of 1.92.

Hecla Mining (NYSE:HL) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $245.09 million during the quarter, compared to analysts’ expectations of $232.03 million. Hecla Mining had a positive return on equity of 0.75% and a negative net margin of 2.27%. The firm’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) EPS. Equities research analysts anticipate that Hecla Mining will post 0.06 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were given a dividend of $0.0138 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.06 annualized dividend and a yield of 0.99%. Hecla Mining’s dividend payout ratio (DPR) is currently -125.00%.

Analysts Set New Price Targets

A number of brokerages have issued reports on HL. National Bank Financial lowered Hecla Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. TD Securities cut their target price on Hecla Mining from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, StockNews.com cut Hecla Mining from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.94.

Insiders Place Their Bets

In other news, VP Kurt Allen sold 108,612 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 173,700 shares of the company’s stock, valued at approximately $1,175,949. The trade was a 38.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Hecla Mining 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.