Congress Asset Management Co. Cuts Stake in Hecla Mining (NYSE:HL)

Congress Asset Management Co. trimmed its position in shares of Hecla Mining (NYSE:HL) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 754,362 shares of the basic materials company’s stock after selling 7,470 shares during the quarter. Congress Asset Management Co. owned 0.12% of Hecla Mining worth $5,032,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Continuum Advisory LLC lifted its stake in shares of Hecla Mining by 313.6% in the second quarter. Continuum Advisory LLC now owns 6,551 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 4,967 shares during the period. Innealta Capital LLC acquired a new stake in shares of Hecla Mining in the 2nd quarter worth approximately $41,000. Sound Income Strategies LLC acquired a new stake in shares of Hecla Mining in the 3rd quarter worth approximately $49,000. Ballentine Partners LLC purchased a new position in Hecla Mining in the 2nd quarter valued at approximately $54,000. Finally, Oak Family Advisors LLC acquired a new position in Hecla Mining during the second quarter worth $55,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hecla Mining

In other Hecla Mining news, VP Kurt Allen sold 108,612 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $6.77, for a total value of $735,303.24. Following the sale, the vice president now directly owns 173,700 shares of the company’s stock, valued at approximately $1,175,949. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HL. HC Wainwright reissued a “buy” rating and issued a $10.25 target price on shares of Hecla Mining in a report on Thursday, August 8th. Roth Mkm dropped their target price on shares of Hecla Mining from $6.25 to $6.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, StockNews.com cut shares of Hecla Mining from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.56.

Hecla Mining Trading Down 1.3 %

Hecla Mining stock opened at $6.41 on Friday. The stock has a market cap of $4.03 billion, a PE ratio of -80.06 and a beta of 2.01. The company has a current ratio of 1.29, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $6.52 and a 200 day moving average price of $5.80. Hecla Mining has a 52 week low of $3.33 and a 52 week high of $7.68.

Hecla Mining (NYSE:HL) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Hecla Mining had a negative net margin of 5.56% and a negative return on equity of 0.42%. The business had revenue of $245.66 million during the quarter, compared to analyst estimates of $208.80 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. Equities research analysts predict that Hecla Mining will post 0.07 earnings per share for the current fiscal year.

Hecla Mining Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 26th were given a $0.0138 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.86%. This is an increase from Hecla Mining’s previous quarterly dividend of $0.00. Hecla Mining’s payout ratio is currently -62.50%.

About Hecla Mining

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.