Hecla Mining Reports Quarterly Earnings and Dividend Payment
Hecla Mining, a basic materials company listed on NYSE under the ticker symbol HL, recently reported its quarterly earnings for the period ended on February 15th, 2023. According to the earnings report, Hecla Mining earned $0.02 per share in the quarter compared to the Wall Street estimates of $196.20 million in revenue.
Despite missing analysts’ expectations, Hecla Mining had a positive return on equity of 1.52%, indicating that it is efficiently using its shareholder’s funds to generate a profit. However, the company’s net margin was negative due to higher operating expenses than revenue.
In an effort to reward its shareholders, Hecla Mining announced a quarterly dividend payment of $0.0038 per share on May 17th, payable on June 9th to shareholders of record on May 22nd. This represents a $0.02 annualized dividend and yields 0.28%. The ex-dividend date for this dividend is scheduled to fall on May 19th, which means that investors who purchase shares after this date will not receive any dividends for this period.
On Wednesday, May 17th, Hecla Mining was trading at $5.28 per share with a fifty-day moving average of $6.00 and a two hundred-day moving average of $5.66. The company has a current ratio of 1.48 which indicates it has enough resources to pay off its short-term debt obligations.
While Hecla Mining’s stock price has seen some volatility over the past year with highs and lows ranging from $3.41 to $7.00 per share respectively; the recent dividend announcement may offer investors some stability in their investment portfolio by providing passive income opportunities irrespective of market fluctuations.
In conclusion, shareholders should keep their eyes glued to any developments surrounding these events as they offer valuable insight into the company’s financial health and its plan for future growth. Nonetheless, Hecla Mining remains a promising investment opportunity for investors looking to diversify their portfolio in the basic materials industry.
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Mixed Signals for Hecla Mining’s Stocks
Hecla Mining, a basic materials company with shares listed on the New York Stock Exchange (NYSE:HL), has seen its Q2 2023 earnings per share estimates drop following a report issued by equities research analysts of B. Riley on May 16th, 2023. L. Pipes, an analyst at the research firm, now expects that Hecla Mining will post earnings of $0.02 per share for the quarter, down from their previous prediction of $0.03. Despite this, shares in the company have continued to see investment from hedge funds and other institutional investors such as Van ECK Associates Corp., Vanguard Group Inc., BlackRock Inc., Dimensional Fund Advisors LP and State Street Corp.
Previously in April 2017, HC Wainwright cited Hecla Mining as a “buy,” raising its previous price target from $7 to $8.25 per share; however, Roth Mkm downgraded Hecla Mining’s buy rating to neutral and only raised its price objective marginally from $5.50 to $6.25 per share later that month.
Since then there have been mixed signals regarding investment advice for the company’s stocks, with Cantor Fitzgerald downgrading Hecla Mining’s stock from a “buy” rating to “hold” in mid-May 2023 and StockNews.com even giving it a sell rating back in March of that same year.
However despite varied advice regarding investment strategies around Hecla Mining from market research firms and experts alike, investors are showing increased interest in holding the company’s shares; notably Van ECK Associates Corp saw a 10.3% rise for their stake in comparison to early 2017 after adding almost six million new shares to their portfolio worth approximately $385 million USD. The Vanguard Group Inc., BlackRock Inc., Dimensional Fund Advisors LP and State Street Corp have also all added millions of shares each since then – lifting the company’s market cap to around $2.6 billion USD and indicating that bullish sentiment still prevails among investors of Hecla Mining.
