Kingsview Wealth Management LLC Acquires Shares of 88,232 Hecla Mining (NYSE:HL)

Kingsview Wealth Management LLC bought a new stake in Hecla Mining (NYSE:HL) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 88,232 shares of the basic materials company’s stock, valued at approximately $589,000.

Several other hedge funds and other institutional investors also recently modified their holdings of HL. Encompass Capital Advisors LLC acquired a new stake in Hecla Mining in the second quarter valued at about $19,714,000. Van ECK Associates Corp boosted its stake in shares of Hecla Mining by 4.3% in the 3rd quarter. Van ECK Associates Corp now owns 54,680,051 shares of the basic materials company’s stock valued at $391,510,000 after purchasing an additional 2,238,559 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Hecla Mining in the 2nd quarter valued at approximately $6,280,000. Ninety One UK Ltd grew its holdings in shares of Hecla Mining by 17.0% during the 2nd quarter. Ninety One UK Ltd now owns 8,219,231 shares of the basic materials company’s stock valued at $39,863,000 after purchasing an additional 1,196,515 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Hecla Mining by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,718,551 shares of the basic materials company’s stock worth $44,813,000 after purchasing an additional 456,107 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Roth Mkm decreased their target price on shares of Hecla Mining from $6.25 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. TD Securities dropped their target price on Hecla Mining from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 8th. StockNews.com cut Hecla Mining from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. HC Wainwright reiterated a “buy” rating and issued a $10.25 price objective on shares of Hecla Mining in a report on Thursday, August 8th. Finally, National Bank Financial lowered shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.94.

Insiders Place Their Bets

In other Hecla Mining news, VP Kurt Allen sold 108,612 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $6.77, for a total transaction of $735,303.24. Following the transaction, the vice president now directly owns 173,700 shares in the company, valued at approximately $1,175,949. This represents a 38.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Hecla Mining Price Performance

Hecla Mining stock opened at $5.50 on Thursday. The stock’s 50 day moving average is $6.42 and its 200 day moving average is $5.89. Hecla Mining has a one year low of $3.33 and a one year high of $7.68. The firm has a market cap of $3.45 billion, a P/E ratio of -137.38 and a beta of 2.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.09 and a quick ratio of 0.54.

Hecla Mining (NYSE:HL) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Hecla Mining had a negative net margin of 2.27% and a positive return on equity of 0.75%. The firm had revenue of $245.09 million during the quarter, compared to analyst estimates of $232.03 million. During the same quarter last year, the business earned ($0.01) EPS. The company’s revenue was up 34.7% compared to the same quarter last year. As a group, research analysts expect that Hecla Mining will post 0.06 EPS for the current year.

Hecla Mining Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.0138 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.06 dividend on an annualized basis and a yield of 1.00%. Hecla Mining’s dividend payout ratio (DPR) is currently -125.00%.

Hecla Mining 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.