Man Group plc Acquires Shares of 1,283,619 Hecla Mining Company $HL

Man Group plc acquired a new position in Hecla Mining Company (NYSE:HL) in the second quarter, Holdings Channel reports. The institutional investor acquired 1,283,619 shares of the basic materials company’s stock, valued at approximately $19,806,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Hecla Mining during the 2nd quarter valued at about $1,085,779,000. Arrowstreet Capital Limited Partnership increased its stake in Hecla Mining by 86.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,715,100 shares of the basic materials company’s stock worth $244,003,000 after acquiring an additional 5,906,313 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Hecla Mining by 40.6% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,052,346 shares of the basic materials company’s stock worth $102,144,000 after acquiring an additional 4,928,130 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Hecla Mining during the fourth quarter valued at approximately $88,417,000. Finally, State Street Corp lifted its stake 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 valued at $417,278,000 after purchasing an additional 4,453,706 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HL has been the topic of several analyst reports. Scotiabank cut their target price on Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. HC Wainwright lowered their price target on Hecla Mining from $36.50 to $26.75 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Hecla Mining from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Zacks Research upgraded shares of Hecla Mining to a “hold” rating in a report on Friday, July 17th. Finally, Wall Street Zen cut shares of Hecla Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.82.

Hecla Mining Trading Up 3.4%

NYSE HL opened at $21.41 on Friday. Hecla Mining Company has a 12-month low of $8.02 and a 12-month high of $34.17. The company has a fifty day simple moving average of $16.50 and a two-hundred day simple moving average of $18.21. The stock has a market cap of $14.38 billion, a P/E ratio of 43.70 and a beta of 1.32.

Hecla Mining (NYSE:HL) last announced its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $333.85 million for the quarter, compared to analysts’ expectations of $368.75 million. Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%. Hecla Mining’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $0.09 earnings per share. As a group, sell-side analysts forecast that Hecla Mining Company will post 0.46 earnings per share for the current year.

Hecla Mining Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be paid a dividend of $0.0038 per share. This represents a $0.01 annualized dividend and a yield of 0.1%. The ex-dividend date is Wednesday, August 26th. Hecla Mining’s payout ratio is presently 2.04%.

Hecla Mining 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.