Citigroup Inc. Acquires 435,634 Shares of Hecla Mining (NYSE:HL)

Citigroup Inc. raised its holdings in shares of Hecla Mining (NYSE:HL - Free Report) by 221.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 632,744 shares of the basic materials company's stock after acquiring an additional 435,634 shares during the quarter. Citigroup Inc. owned about 0.10% of Hecla Mining worth $4,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of HL. Continuum Advisory LLC increased its holdings in shares of Hecla Mining by 313.6% in the second quarter. Continuum Advisory LLC now owns 6,551 shares of the basic materials company's stock worth $32,000 after purchasing an additional 4,967 shares during the period. Innealta Capital LLC bought a new position in shares of Hecla Mining in the second quarter worth $41,000. Sound Income Strategies LLC bought a new position in shares of Hecla Mining in the third quarter worth $49,000. Ballentine Partners LLC bought a new position in Hecla Mining in the second quarter valued at $54,000. Finally, Oak Family Advisors LLC bought a new position in Hecla Mining in the second quarter valued at $55,000. Institutional investors own 63.01% of the company's stock.

Insider Transactions at Hecla Mining

In related news, VP Kurt Allen sold 108,612 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $6.77, for a total value of $735,303.24. Following the completion of the transaction, the vice president now directly owns 173,700 shares of the company's stock, valued at $1,175,949. This represents a 38.47 % decrease in their ownership of the stock. The transaction 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 company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on HL shares. Roth Mkm reduced 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. National Bank Financial cut Hecla Mining from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 8th. HC Wainwright reissued a "buy" rating and issued a $10.25 target price on shares of Hecla Mining in a research note on Thursday, August 8th. TD Securities reduced their target price on Hecla Mining from $8.50 to $8.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Finally, StockNews.com cut Hecla Mining from a "hold" rating to a "sell" rating in a research note on Thursday, October 17th. One equities 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $7.94.

Hecla Mining Trading Down 1.7 %

NYSE HL traded down $0.10 during trading on Wednesday, hitting $5.65. 10,286,341 shares of the company's stock traded hands, compared to its average volume of 9,331,344. The stock has a fifty day moving average of $6.30 and a two-hundred day moving average of $5.89. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.09 and a quick ratio of 0.54. Hecla Mining has a 12-month low of $3.33 and a 12-month high of $7.68. The firm has a market cap of $3.55 billion, a P/E ratio of -143.50 and a beta of 1.92.

Hecla Mining (NYSE:HL - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $245.09 million during the quarter, compared to analyst estimates of $232.03 million. Hecla Mining had a negative net margin of 2.27% and a positive return on equity of 0.75%. The company's revenue was up 34.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. As a group, sell-side analysts expect that Hecla Mining will post 0.06 EPS for the current year.

Hecla Mining Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.0138 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.97%. Hecla Mining's dividend payout ratio is currently -125.00%.

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.