Wealthfront Advisers LLC Takes $18.44 Million Position in Hecla Mining (NYSE:HL)

Wealthfront Advisers LLC purchased a new stake in shares of Hecla Mining (NYSE:HL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,755,864 shares of the basic materials company’s stock, valued at approximately $18,441,000.

Several other large investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Hecla Mining during the 3rd quarter valued at $28,000. Ameliora Wealth Management Ltd. acquired a new position in shares of Hecla Mining during the 4th quarter worth approximately $25,000. GAMMA Investing LLC raised its holdings in shares of Hecla Mining by 771.8% during the fourth quarter. GAMMA Investing LLC now owns 5,013 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 4,438 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Hecla Mining in the fourth quarter valued at approximately $25,000. Finally, Blue Trust Inc. raised its position in shares of Hecla Mining by 30.7% during the 4th quarter. Blue Trust Inc. now owns 8,351 shares of the basic materials company’s stock valued at $41,000 after buying an additional 1,961 shares during the period. Institutional investors own 63.01% of the company’s stock.

Hecla Mining Stock Performance

Shares of HL opened at $5.45 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.55 and a current ratio of 1.08. The company has a market capitalization of $3.44 billion, a PE ratio of 108.92 and a beta of 1.94. The company’s 50 day moving average price is $5.47 and its 200 day moving average price is $5.84. Hecla Mining has a 52 week low of $4.04 and a 52 week high of $7.68.

Hecla Mining (NYSE:HL) last released its quarterly earnings results on Thursday, February 13th. The basic materials company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $249.66 million for the quarter, compared to the consensus estimate of $229.21 million. Hecla Mining had a return on equity of 3.10% and a net margin of 3.85%. Research analysts expect that Hecla Mining will post 0.21 EPS for the current fiscal year.

Hecla Mining Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.0038 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Monday, March 10th. Hecla Mining’s dividend payout ratio (DPR) is 20.00%.

Wall Street Analysts Forecast Growth

HL has been the topic of several recent research reports. StockNews.com raised shares of Hecla Mining from a “sell” rating to a “hold” rating in a research note on Monday, February 17th. Roth Mkm lowered their target price on shares of Hecla Mining from $6.60 to $6.50 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. TD Securities cut shares of Hecla Mining from a “buy” rating to a “hold” rating and lowered their price target for the stock from $6.50 to $5.50 in a research note on Tuesday. Finally, HC Wainwright reissued a “buy” rating and set a $11.50 price objective on shares of Hecla Mining in a research note on Friday, February 14th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $7.75.

Insider Activity

In other news, VP Kurt Allen sold 9,195 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $5.18, for a total transaction of $47,630.10. Following the transaction, the vice president now owns 104,512 shares of the company’s stock, valued at $541,372.16. This represents a 8.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Michael L. Clary sold 32,387 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $5.18, for a total value of $167,764.66. Following the sale, the chief accounting officer now owns 246,440 shares of the company’s stock, valued at $1,276,559.20. This trade represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,915 shares of company stock valued at $300,000 in the last quarter. Company insiders own 1.40% of the company’s stock.

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.