Hecla Mining (NYSE:HL) to Issue Quarterly Dividend of $0.01

Hecla Mining (NYSE:HL) announced a quarterly dividend on Wednesday, February 14th, Zacks reports. Stockholders of record on Tuesday, March 12th will be given a dividend of 0.006 per share by the basic materials company on Monday, March 25th. This represents a $0.02 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Monday, March 11th.

Hecla Mining has raised its dividend by an average of 15.4% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Hecla Mining has a dividend payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hecla Mining to earn $0.08 per share next year, which means the company should continue to be able to cover its $0.03 annual dividend with an expected future payout ratio of 37.5%.

Hecla Mining Stock Down 1.7 %

NYSE HL opened at $4.06 on Friday. The firm’s 50 day moving average price is $3.91 and its 200-day moving average price is $4.19. The company has a current ratio of 1.65, a quick ratio of 1.06 and a debt-to-equity ratio of 0.33. Hecla Mining has a 52-week low of $3.33 and a 52-week high of $7.00.

Hecla Mining (NYSE:HL) last posted its earnings results on Thursday, February 15th. The basic materials company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Hecla Mining had a negative return on equity of 0.27% and a negative net margin of 11.69%. The company had revenue of $160.69 million for the quarter, compared to analysts’ expectations of $151.51 million. During the same quarter in the prior year, the company earned $0.02 EPS. The firm’s quarterly revenue was down 17.5% on a year-over-year basis. On average, equities analysts forecast that Hecla Mining will post 0.01 EPS for the current year.

Institutional Trading of Hecla Mining

Several large investors have recently bought and sold shares of the stock. US Bancorp DE increased its holdings in shares of Hecla Mining by 107.9% in the fourth quarter. US Bancorp DE now owns 7,637 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 3,963 shares during the period. Captrust Financial Advisors boosted its position in Hecla Mining by 104.3% in the second quarter. Captrust Financial Advisors now owns 9,659 shares of the basic materials company’s stock valued at $38,000 after buying an additional 4,932 shares during the last quarter. Verition Fund Management LLC acquired a new position in Hecla Mining in the 2nd quarter worth approximately $40,000. Nomura Holdings Inc. purchased a new position in Hecla Mining during the 2nd quarter worth approximately $45,000. Finally, Dark Forest Capital Management LP acquired a new stake in Hecla Mining during the 1st quarter valued at approximately $48,000. Hedge funds and other institutional investors own 59.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com raised shares of Hecla Mining to a “sell” rating in a research report on Friday, November 17th. National Bank Financial reiterated an “outperform market weight” rating on shares of Hecla Mining in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Hecla Mining presently has an average rating of “Moderate Buy” and a consensus target price of $6.45.

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.