Connor Clark & Lunn Investment Management Ltd. Acquires 391,114 Shares of Hecla Mining (NYSE:HL)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Hecla Mining (NYSE:HL) by 83.8% during the third quarter, HoldingsChannel reports. The fund owned 858,091 shares of the basic materials company’s stock after purchasing an additional 391,114 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hecla Mining were worth $5,723,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Hecla Mining by 2.6% during the first quarter. Vanguard Group Inc. now owns 59,420,114 shares of the basic materials company’s stock worth $285,811,000 after acquiring an additional 1,506,573 shares during the last quarter. Van ECK Associates Corp raised its holdings in Hecla Mining by 4.3% during the 3rd quarter. Van ECK Associates Corp now owns 54,680,051 shares of the basic materials company’s stock worth $391,510,000 after purchasing an additional 2,238,559 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Hecla Mining by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 34,644,620 shares of the basic materials company’s stock worth $168,027,000 after purchasing an additional 146,689 shares during the period. Tidal Investments LLC bought a new stake in shares of Hecla Mining in the 1st quarter valued at $42,576,000. Finally, Ninety One UK Ltd increased its position in shares of Hecla Mining by 17.0% during the second quarter. Ninety One UK Ltd now owns 8,219,231 shares of the basic materials company’s stock worth $39,863,000 after buying an additional 1,196,515 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Hecla Mining Stock Down 3.0 %

Shares of NYSE:HL opened at $5.52 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.54 and a current ratio of 1.09. Hecla Mining has a 52-week low of $3.33 and a 52-week high of $7.68. The business’s 50 day simple moving average is $6.47 and its two-hundred day simple moving average is $5.88. The firm has a market cap of $3.47 billion, a P/E ratio of -138.00 and a beta of 2.00.

Hecla Mining (NYSE:HL) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $245.09 million for the quarter, compared to analysts’ expectations of $232.03 million. Hecla Mining had a positive return on equity of 0.75% and a negative net margin of 2.27%. Hecla Mining’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same period last year, the business earned ($0.01) EPS. As a group, research analysts forecast that Hecla Mining will post 0.06 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The firm also recently announced 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. This represents a $0.06 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, November 21st. Hecla Mining’s payout ratio is presently -125.00%.

Analysts Set New Price Targets

A number of analysts have commented on HL shares. 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. HC Wainwright restated a “buy” rating and set a $10.25 target price on shares of Hecla Mining in a research report on Thursday, August 8th. TD Securities lowered their target price on Hecla Mining from $8.50 to $8.00 and set a “buy” rating for the company in a report on Friday, November 8th. StockNews.com cut Hecla Mining from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. Finally, Roth Mkm lowered their price objective on shares of Hecla Mining from $6.25 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Hecla Mining has an average rating of “Moderate Buy” and an average target price of $7.94.

Insider Transactions at Hecla Mining

In related 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by insiders.

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.