Man Group plc Makes New $19.81 Million Investment in Hecla Mining Company $HL

Man Group plc bought a new position in Hecla Mining Company (NYSE:HL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,283,619 shares of the basic materials company’s stock, valued at approximately $19,806,000. Man Group plc owned approximately 0.19% of Hecla Mining as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in HL. BlackRock Inc. bought a new stake in shares of Hecla Mining during the second quarter valued at approximately $1,085,779,000. Arrowstreet Capital Limited Partnership lifted 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 acquiring an additional 5,906,313 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 purchasing an additional 4,928,130 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Hecla Mining during the 4th quarter valued at $88,417,000. Finally, State Street Corp increased its holdings in shares of Hecla Mining by 14.8% in the 3rd quarter. State Street Corp now owns 34,485,817 shares of the basic materials company’s stock worth $417,278,000 after purchasing an additional 4,453,706 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Hecla Mining Stock Up 3.4%

Hecla Mining stock opened at $21.41 on Friday. Hecla Mining Company has a 52-week low of $8.02 and a 52-week high of $34.17. The company has a market cap of $14.38 billion, a P/E ratio of 43.70 and a beta of 1.32. The business has a 50-day simple moving average of $16.50 and a two-hundred day simple moving average of $18.21.

Hecla Mining (NYSE:HL) last issued its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%.The business had revenue of $333.85 million during the quarter, compared to the consensus estimate of $368.75 million. During the same quarter last year, the company earned $0.09 EPS. Hecla Mining’s revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts anticipate that Hecla Mining Company will post 0.46 EPS for the current fiscal year.

Hecla Mining Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HL. Wall Street Zen cut Hecla Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Jefferies Financial Group started coverage on Hecla Mining in a research report on Thursday, August 20th. They set a “hold” rating and a $22.00 price objective on the stock. HC Wainwright reduced their price objective on Hecla Mining from $36.50 to $26.75 and set a “buy” rating for the company in a report on Wednesday, May 6th. Scotiabank decreased their target price on Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Finally, Zacks Research upgraded shares of Hecla Mining to a “hold” rating in a research note on Friday, July 17th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.82.

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.