Byrne Asset Management LLC Purchases Shares of 7,000 Hecla Mining (NYSE:HL)

Byrne Asset Management LLC bought a new position in shares of Hecla Mining (NYSE:HL) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,000 shares of the basic materials company’s stock, valued at approximately $34,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kingswood Wealth Advisors LLC purchased a new position in shares of Hecla Mining during the 3rd quarter worth approximately $469,000. Raymond James Financial Services Advisors Inc. raised its position in shares of Hecla Mining by 5.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 87,524 shares of the basic materials company’s stock worth $342,000 after buying an additional 4,403 shares during the period. Stratos Wealth Partners LTD. raised its position in Hecla Mining by 139.8% in the third quarter. Stratos Wealth Partners LTD. now owns 45,436 shares of the basic materials company’s stock valued at $178,000 after purchasing an additional 26,487 shares during the period. Bank of New York Mellon Corp raised its position in Hecla Mining by 4.0% in the third quarter. Bank of New York Mellon Corp now owns 5,385,535 shares of the basic materials company’s stock valued at $21,057,000 after purchasing an additional 208,740 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Hecla Mining by 21.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 169,303 shares of the basic materials company’s stock valued at $662,000 after purchasing an additional 30,052 shares during the period. 63.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HL has been the subject of a number of research reports. National Bank Financial reiterated an “outperform market weight” rating on shares of Hecla Mining in a research note on Monday, April 8th. StockNews.com upgraded Hecla Mining to a “sell” rating in a research note on Wednesday, April 10th. Finally, Roth Mkm lifted their target price on Hecla Mining from $4.60 to $6.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Hecla Mining currently has an average rating of “Moderate Buy” and an average price target of $6.68.

Hecla Mining Trading Down 5.6 %

NYSE HL traded down $0.28 on Tuesday, hitting $4.72. 13,175,535 shares of the stock were exchanged, compared to its average volume of 7,653,156. The company’s 50-day moving average price is $4.57 and its two-hundred day moving average price is $4.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.65 and a quick ratio of 1.06. Hecla Mining has a 52-week low of $3.33 and a 52-week high of $6.30. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of -31.53 and a beta of 2.20.

Hecla Mining (NYSE:HL) last posted its quarterly earnings results on Thursday, February 15th. The basic materials company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Hecla Mining had a negative net margin of 11.69% and a negative return on equity of 0.27%. 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 firm earned $0.02 earnings per share. The company’s revenue was down 17.5% on a year-over-year basis. Research analysts predict that Hecla Mining will post 0.02 EPS for the current year.

Hecla Mining Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Tuesday, March 12th were given a dividend of $0.006 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Monday, March 11th. Hecla Mining’s dividend payout ratio is -20.00%.

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.