Van ECK Associates Corp reduced its stake in shares of Hecla Mining Company (NYSE:HL – Free Report) by 25.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,064,065 shares of the basic materials company’s stock after selling 12,817,430 shares during the quarter. Van ECK Associates Corp owned about 5.53% of Hecla Mining worth $711,260,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Lodestone Wealth Management LLC acquired a new position in shares of Hecla Mining during the 4th quarter worth about $28,000. Quadrant Capital Group LLC grew its position in shares of Hecla Mining by 74.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company’s stock worth $28,000 after buying an additional 631 shares during the period. Sittner & Nelson LLC acquired a new position in shares of Hecla Mining during the 4th quarter worth about $29,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Hecla Mining during the 4th quarter worth about $31,000. Finally, Rothschild Investment LLC grew its position in shares of Hecla Mining by 93.5% during the 4th quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company’s stock worth $31,000 after buying an additional 781 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on HL shares. HC Wainwright decreased their target price on Hecla Mining from $36.50 to $26.75 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Roth Mkm set a $13.00 price objective on Hecla Mining in a report on Wednesday, February 18th. Zacks Research cut Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, February 13th. Wall Street Zen cut Hecla Mining from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings cut Hecla Mining from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, June 5th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $24.79.
Hecla Mining Trading Up 2.1%
NYSE HL opened at $15.30 on Friday. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 37.33 and a beta of 1.25. The stock’s 50 day moving average price is $17.95 and its two-hundred day moving average price is $20.03. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.53 and a current ratio of 4.94. Hecla Mining Company has a 52 week low of $5.47 and a 52 week high of $34.17.
Hecla Mining (NYSE:HL – Get Free Report) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). The firm had revenue of $411.43 million during the quarter, compared to the consensus estimate of $407.63 million. Hecla Mining had a net margin of 17.41% and a return on equity of 16.89%. The company’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 EPS.
Hecla Mining Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd were paid a $0.0038 dividend. The ex-dividend date was Friday, May 22nd. This represents a $0.02 annualized dividend and a yield of 0.1%. Hecla Mining’s payout ratio is presently 2.44%.
About Hecla Mining
Hecla Mining Company, founded in 1891 and headquartered in Coeur d’Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d’Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.
The company’s principal operations are located in North America and Latin America.
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