Tidal Investments LLC Buys 7,960,826 Shares of Hecla Mining (NYSE:HL)

Tidal Investments LLC boosted its stake in Hecla Mining (NYSE:HL) by 100.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,885,647 shares of the basic materials company’s stock after acquiring an additional 7,960,826 shares during the period. Hecla Mining accounts for about 0.6% of Tidal Investments LLC’s holdings, making the stock its 14th biggest position. Tidal Investments LLC owned about 2.53% of Hecla Mining worth $77,999,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Hecla Mining by 317.4% in the third quarter. Barclays PLC now owns 909,811 shares of the basic materials company’s stock valued at $6,069,000 after purchasing an additional 691,862 shares during the period. M.E. Allison & CO. Inc. bought a new stake in shares of Hecla Mining in the fourth quarter valued at approximately $49,000. Fiduciary Family Office LLC bought a new stake in shares of Hecla Mining in the fourth quarter valued at approximately $73,000. Inspire Investing LLC raised its position in shares of Hecla Mining by 31.5% in the fourth quarter. Inspire Investing LLC now owns 81,360 shares of the basic materials company’s stock valued at $399,000 after purchasing an additional 19,493 shares during the period. Finally, Benin Management CORP raised its position in shares of Hecla Mining by 10.1% in the fourth quarter. Benin Management CORP now owns 32,850 shares of the basic materials company’s stock valued at $161,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 63.01% of the company’s stock.

Insiders Place Their Bets

In other Hecla Mining news, CEO Robert Krcmarov acquired 6,570 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was bought at an average price of $5.29 per share, with a total value of $34,755.30. Following the purchase, the chief executive officer now owns 331,856 shares of the company’s stock, valued at approximately $1,755,518.24. This trade represents a 2.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Catherine J. Boggs acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $4.99 per share, with a total value of $99,800.00. Following the purchase, the director now directly owns 348,169 shares in the company, valued at $1,737,363.31. This represents a 6.09% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 57,915 shares of company stock valued at $300,000 in the last quarter. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

HL has been the topic of several research reports. Roth Mkm lowered their price target on shares of Hecla Mining from $6.60 to $6.50 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. TD Securities decreased their target price on shares of Hecla Mining from $6.00 to $5.00 and set a “hold” rating on the stock in a report on Monday, May 5th. National Bank Financial raised shares of Hecla Mining to a “hold” rating in a report on Friday, March 21st. BMO Capital Markets reaffirmed a “market perform” rating and set a $5.50 target price (down previously from $7.50) on shares of Hecla Mining in a report on Monday, May 5th. Finally, StockNews.com raised shares of Hecla Mining from a “sell” rating to a “hold” rating in a report on Monday, February 17th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Hecla Mining presently has an average rating of “Hold” and an average price target of $7.20.

Hecla Mining Stock Performance

Hecla Mining stock opened at $4.87 on Friday. The firm’s 50 day simple moving average is $5.46 and its 200 day simple moving average is $5.49. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $3.08 billion, a PE ratio of 97.32 and a beta of 1.57. Hecla Mining has a 1-year low of $4.41 and a 1-year high of $7.68.

Hecla Mining (NYSE:HL) last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Hecla Mining had a return on equity of 3.10% and a net margin of 3.85%. The company had revenue of $261.34 million during the quarter, compared to analysts’ expectations of $238.50 million. During the same period in the prior year, the firm earned ($0.01) EPS. Hecla Mining’s quarterly revenue was up 37.9% on a year-over-year basis. As a group, analysts expect that Hecla Mining will post 0.21 earnings per share for the current fiscal year.

Hecla Mining Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 23rd will be paid a $0.0038 dividend. The ex-dividend date is Friday, May 23rd. This represents a $0.02 dividend on an annualized basis and a yield of 0.31%. Hecla Mining’s dividend payout ratio is presently 9.09%.

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.