Sapphire Star Partners LP cut its stake in Hecla Mining Company (NYSE:HL) by 18.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,688 shares of the basic materials company’s stock after selling 10,922 shares during the period. Sapphire Star Partners LP’s holdings in Hecla Mining were worth $243,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Aperio Group LLC boosted its position in shares of Hecla Mining by 15.2% in the second quarter. Aperio Group LLC now owns 82,293 shares of the basic materials company’s stock valued at $420,000 after buying an additional 10,841 shares in the last quarter. Eqis Capital Management Inc. boosted its position in shares of Hecla Mining by 20.1% in the second quarter. Eqis Capital Management Inc. now owns 32,780 shares of the basic materials company’s stock valued at $167,000 after buying an additional 5,492 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Hecla Mining during the second quarter valued at $143,000. Bank of Montreal Can boosted its position in shares of Hecla Mining by 24,959.0% in the second quarter. Bank of Montreal Can now owns 1,239,167 shares of the basic materials company’s stock valued at $6,320,000 after buying an additional 1,234,222 shares in the last quarter. Finally, Credit Suisse AG boosted its position in shares of Hecla Mining by 97.1% in the first quarter. Credit Suisse AG now owns 1,316,349 shares of the basic materials company’s stock valued at $6,963,000 after buying an additional 648,356 shares in the last quarter. 57.53% of the stock is currently owned by institutional investors.
Shares of Hecla Mining Company (NYSE:HL) opened at 5.03 on Thursday. The company has a 50-day moving average price of $5.19 and a 200 day moving average price of $5.55. Hecla Mining Company has a 52 week low of $4.61 and a 52 week high of $7.64. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 20.36 and a beta of 0.44.
Hecla Mining (NYSE:HL) last posted its quarterly earnings results on Thursday, August 3rd. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by $0.05. Hecla Mining had a net margin of 7.88% and a return on equity of 2.56%. The business had revenue of $134.30 million for the quarter, compared to analysts’ expectations of $130.54 million. During the same quarter in the previous year, the company earned $0.06 earnings per share. The business’s quarterly revenue was down 21.6% on a year-over-year basis. Analysts expect that Hecla Mining Company will post $0.10 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.0025 per share. The ex-dividend date is Monday, August 21st. This represents a $0.01 annualized dividend and a yield of 0.20%. Hecla Mining’s payout ratio is 7.69%.
A number of brokerages have commented on HL. Royal Bank Of Canada reaffirmed a “hold” rating and set a $6.00 price target on shares of Hecla Mining in a research note on Tuesday, May 30th. Zacks Investment Research downgraded Hecla Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. TheStreet downgraded Hecla Mining from a “b-” rating to a “c” rating in a research note on Thursday, August 3rd. ValuEngine downgraded Hecla Mining from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, BidaskClub downgraded Hecla Mining from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Hecla Mining currently has a consensus rating of “Hold” and an average target price of $6.94.
About Hecla Mining
Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Company and its subsidiaries provide precious and base metals to the United States and around the world. It produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver.
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