JPMorgan Chase & Co. Buys 1,059,929 Shares of Hecla Mining (NYSE:HL)

JPMorgan Chase & Co. grew its stake in Hecla Mining (NYSE:HL) by 43.8% in the 3rd quarter, Holdings Channel reports. The firm owned 3,481,761 shares of the basic materials company’s stock after purchasing an additional 1,059,929 shares during the period. JPMorgan Chase & Co.’s holdings in Hecla Mining were worth $23,223,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Hollencrest Capital Management boosted its holdings in shares of Hecla Mining by 1.0% during the 3rd quarter. Hollencrest Capital Management now owns 248,727 shares of the basic materials company’s stock valued at $1,659,000 after buying an additional 2,367 shares in the last quarter. KBC Group NV lifted its position in Hecla Mining by 19.2% during the 3rd quarter. KBC Group NV now owns 18,075 shares of the basic materials company’s stock valued at $121,000 after acquiring an additional 2,909 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Hecla Mining by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 338,040 shares of the basic materials company’s stock worth $1,639,000 after acquiring an additional 2,939 shares in the last quarter. MML Investors Services LLC grew its holdings in Hecla Mining by 28.6% in the third quarter. MML Investors Services LLC now owns 13,229 shares of the basic materials company’s stock worth $88,000 after purchasing an additional 2,944 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Hecla Mining by 21.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,714 shares of the basic materials company’s stock valued at $111,000 after purchasing an additional 2,982 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

Hecla Mining Trading Up 2.1 %

NYSE:HL opened at $5.33 on Thursday. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of -133.25 and a beta of 1.91. 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 company’s 50 day moving average price is $5.49 and its 200-day moving average price is $5.83. Hecla Mining has a 52 week low of $3.33 and a 52 week high of $7.68.

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

Hecla Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors 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 dividend yield of 1.03%. Hecla Mining’s dividend payout ratio (DPR) is presently -125.00%.

Analyst Ratings Changes

A number of analysts have recently commented on HL shares. National Bank Financial cut Hecla Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. TD Securities lowered their price objective on Hecla Mining from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, StockNews.com downgraded Hecla Mining from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.94.

Hecla Mining Company 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.