366,065 Shares in Hecla Mining Company $HL Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in shares of Hecla Mining Company (NYSE:HL) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 366,065 shares of the basic materials company’s stock, valued at approximately $5,648,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Hecla Mining during the second quarter valued at approximately $1,085,779,000. Arrowstreet Capital Limited Partnership raised its position in Hecla Mining by 86.7% in the 4th 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Hecla Mining by 40.6% during the 2nd 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 in the last quarter. Jupiter Asset Management Ltd. bought a new position in Hecla Mining during the 4th quarter valued at $88,417,000. Finally, State Street Corp boosted its holdings in Hecla Mining by 14.8% during the 3rd 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 during the last quarter. 63.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Hecla Mining in a research note on Thursday, August 20th. They issued a “hold” rating and a $22.00 target price for the company. Weiss Ratings upgraded shares of Hecla Mining from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of Hecla Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Scotiabank decreased their price objective on shares of 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. Finally, Zacks Research raised shares of Hecla Mining to a “hold” rating in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $23.82.

Hecla Mining Price Performance

NYSE:HL opened at $19.86 on Tuesday. The company has a market capitalization of $13.34 billion, a P/E ratio of 40.53 and a beta of 1.32. The business has a fifty day simple moving average of $16.67 and a two-hundred day simple moving average of $18.16. Hecla Mining Company has a 1 year low of $8.07 and a 1 year 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). The firm had revenue of $333.85 million for the quarter, compared to analysts’ expectations of $368.75 million. Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 EPS. As a group, analysts anticipate that Hecla Mining Company will post 0.46 earnings per share for the current year.

Hecla Mining Announces Dividend

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

Hecla Mining Company Profile

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.