Principal Financial Group Inc. Lowers Holdings in Hecla Mining (NYSE:HL)

Principal Financial Group Inc. lowered its holdings in Hecla Mining (NYSE:HL) by 27.8% during the third quarter, Holdings Channel.com reports. The firm owned 40,985 shares of the basic materials company’s stock after selling 15,748 shares during the period. Principal Financial Group Inc.’s holdings in Hecla Mining were worth $273,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Continuum Advisory LLC lifted its holdings in shares of Hecla Mining by 313.6% in the 2nd quarter. Continuum Advisory LLC now owns 6,551 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 4,967 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in Hecla Mining in the third quarter valued at approximately $49,000. Innealta Capital LLC acquired a new position in Hecla Mining during the second quarter worth $41,000. GFG Capital LLC purchased a new position in shares of Hecla Mining during the third quarter worth $67,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Hecla Mining in the second quarter valued at $54,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Hecla Mining Stock Down 1.8 %

Shares of Hecla Mining stock opened at $5.42 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 1.09 and a debt-to-equity ratio of 0.24. Hecla Mining has a 52-week low of $3.33 and a 52-week high of $7.68. The company has a market capitalization of $3.41 billion, a P/E ratio of -135.50 and a beta of 2.00. The company has a 50 day moving average of $6.44 and a 200 day moving average of $5.89.

Hecla Mining (NYSE:HL) last released its quarterly earnings data 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 business had revenue of $245.09 million during the quarter, compared to analysts’ expectations of $232.03 million. During the same period in the previous year, the company earned ($0.01) EPS. The company’s revenue for the quarter was up 34.7% on a year-over-year basis. As a group, research analysts forecast that Hecla Mining will post 0.06 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders 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 annualized dividend and a dividend yield of 1.01%. Hecla Mining’s dividend payout ratio is presently -125.00%.

Wall Street Analysts Forecast Growth

HL has been the topic of several research reports. Roth Mkm decreased their target price on Hecla Mining from $6.25 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. HC Wainwright reissued a “buy” rating and set a $10.25 price target on shares of Hecla Mining in a research report on Thursday, August 8th. StockNews.com cut shares of Hecla Mining from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. TD Securities reduced their target price on shares of Hecla Mining from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, National Bank Financial cut shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Hecla Mining presently has an average rating of “Moderate Buy” and a consensus target price of $7.94.

Insider Activity

In other Hecla Mining news, VP Kurt Allen sold 108,612 shares of Hecla Mining 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 owns 173,700 shares of the company’s stock, valued at $1,175,949. The trade was a 38.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.40% of the company’s stock.

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.