Louisiana State Employees Retirement System Buys New Position in Hecla Mining Company $HL

Louisiana State Employees Retirement System purchased a new stake in Hecla Mining Company (NYSE:HL) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 303,900 shares of the basic materials company’s stock, valued at approximately $3,677,000.

A number of other large investors have also modified their holdings of the business. Transce3nd LLC acquired a new position in shares of Hecla Mining during the second quarter valued at about $25,000. USA Financial Formulas purchased a new stake in Hecla Mining during the 3rd quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its stake in Hecla Mining by 255.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 4,425 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Hecla Mining in the second quarter worth $44,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of Hecla Mining in the third quarter worth $49,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insider Activity

In related news, CFO Russell Douglas Lawlar sold 148,372 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $15.00, for a total value of $2,225,580.00. Following the completion of the transaction, the chief financial officer directly owned 347,402 shares in the company, valued at $5,211,030. The trade was a 29.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Kurt Allen sold 52,219 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $21.91, for a total transaction of $1,144,118.29. Following the sale, the vice president directly owned 216,641 shares in the company, valued at $4,746,604.31. This trade represents a 19.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 426,679 shares of company stock valued at $7,678,773 in the last three months. 0.62% of the stock is currently owned by corporate insiders.

Hecla Mining Stock Performance

NYSE HL opened at $21.02 on Friday. The firm has a market capitalization of $14.08 billion, a P/E ratio of 67.79 and a beta of 1.28. The stock has a 50-day simple moving average of $17.00 and a two-hundred day simple moving average of $11.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.51 and a current ratio of 2.15. Hecla Mining Company has a fifty-two week low of $4.46 and a fifty-two week high of $22.28.

Hecla Mining (NYSE:HL) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The firm had revenue of $409.54 million for the quarter, compared to the consensus estimate of $315.60 million. Hecla Mining had a return on equity of 7.87% and a net margin of 16.35%.The company’s revenue was up 67.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, equities analysts forecast that Hecla Mining Company will post 0.21 earnings per share for the current year.

Hecla Mining Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, November 24th were issued a dividend of $0.0038 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, November 24th. Hecla Mining’s payout ratio is 3.23%.

Analyst Ratings Changes

HL has been the topic of several research reports. Wall Street Zen raised Hecla Mining from a “hold” rating to a “buy” rating in a research report on Sunday, November 2nd. Scotiabank began coverage on Hecla Mining in a report on Thursday, November 13th. They issued a “sector perform” rating and a $15.00 price objective on the stock. HC Wainwright raised their price objective on Hecla Mining from $12.50 to $16.50 and gave the stock a “buy” rating in a research note on Thursday, November 6th. CIBC upped their target price on Hecla Mining from $15.00 to $16.50 and gave the company a “neutral” rating in a research report on Tuesday, November 25th. Finally, Roth Capital set a $8.75 price target on shares of Hecla Mining and gave the stock a “sell” rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Hecla Mining currently has a consensus rating of “Hold” and a consensus target price of $10.22.

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.