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Hecla Mining Co. Message Board

  • Drdull99 Drdull99 Dec 11, 1999 11:07 PM Flag

    HL Preferred B

    Anyone own this? I bought this as a stand-in for
    the common while gold goes nowhere. It was yielding
    8%+ several years ago. Now, I imagine it's probably
    10%+ A way to get paid while you're waiting for HL to
    go someplace, stockwise. If gold goes up, and HL
    goes up, the preferred goes up (it's convertible).You
    might think of buying this instead of the common. Only
    problem is, it's hard to get a quote. You have to look in
    Barron's, or call a knowlegable broker that can find
    Meanwhile, is it risky? Probably, but not so much as the
    common. Dividends have been paid regularly, despite the
    losses. If anyone has an opinion about this, would like
    to hear your thoughts. Thanks.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • lets face it hl is a dog..i'm dumping all mine tommorrow before it goes down below 1. looks just like TTG to me. hl doesn't have a prayer. look at the charts( how am i doing so far?)

    • Unless Y2K.....

    • Seems to me HL made a bad call when they issued
      the preferred stock. HL would actually make money if
      they didn't have this millstone around their neck.
      This preferred is like a leach sucking the life blood
      out of HL. When or if HL ever gets into the black in
      a big way the first thing they should do is call in
      or buy all the preferred stock and put and end to
      the bloodletting.
      Seasons greetings to all,

      • 2 Replies to rodag7j
      • all,

        there have been some good posts here
        lately. While pcnisbet's info on industrial minerals was
        informative & SHOULD be cause for hope w/ HL, the posts about
        the preferred stock & "perception IS reality" are
        quite true. I've noticed many times when the earnings
        are released that hecla would have posted net gains
        had it not been for the preferred dividend payout. I
        agree w/ calling those in & eliminating them at first
        opportunity...if there is one. That is part of the perception
        problem...I think wall street sees that as a permanent drain
        on the value of HL.

      • your appreciation & obvious understanding of the
        ball clay & after kt bought cypress the kaolin clay
        business makes me wonder if your not associated with hl in
        some way. yes kt clay is the best thing brown ever
        done for hecla but it was dropped in his lap by
        Anderson's father after his son's balloon accident. i really
        call that luck. hell, i had much rather be lucky than
        good--good takes skill. hl management owes wallstreet
        something but its not profits. when the chairman buys, its
        probably a good idea to pick up some stock-isn't he an
        like you say mr pcnisbet if they sell kt clay the rest
        of hl is free except my estimate of kt clay's price
        is "a little" more than yours.

    • HLPRB are availabe on yahoo stock quotes by
      typing in HL_pb. Also try HLPRB with your online

      Yes, I own it. However, I thought the bottom was $34
      after watching it decline from $48; but it is
      cumulative and convertible with no problem unless HL goes
      bellyup. It pays a great dividend at $27 and has
      tremendous upside capital gains potential IMO. Of course I
      am still thinking in the old value investment
      mentality. All the money is being made in the high flying
      stocks where value based on earnings means nothing. Just
      can't go there; must be too old to change! Scared to!

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