Amundi Sells 52,344 Shares of Hecla Mining Company $HL

Key Points

• Amundi cut its Hecla Mining stake by 3.3% in the second quarter, selling 52,344 shares and retaining 1.53 million shares worth approximately $23.6 million. Institutional investors collectively own 63.01% of the company.
• Hecla’s latest quarterly results missed analyst expectations, with adjusted EPS of $0.17 versus $0.18 expected and revenue of $333.85 million versus $368.75 million estimated. Revenue nonetheless increased 9.8% year over year.
• Analysts maintain a generally cautious outlook, with an average “Hold” rating and a $23.82 price target; the company also pays a quarterly dividend of $0.0038 per share, yielding about 0.1%.

Amundi reduced its position in Hecla Mining Company (NYSE:HL - Free Report) by 3.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,530,988 shares of the basic materials company's stock after selling 52,344 shares during the quarter. Amundi owned about 0.23% of Hecla Mining worth $23,623,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Quadrant Capital Group LLC lifted its holdings in shares of Hecla Mining by 74.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company's stock worth $28,000 after purchasing an additional 631 shares during the period. Sittner & Nelson LLC acquired a new position in shares of Hecla Mining in the fourth quarter worth about $29,000. Rothschild Investment LLC boosted its position in Hecla Mining by 93.5% during the fourth quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company's stock worth $31,000 after purchasing an additional 781 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Hecla Mining during the 4th quarter valued at approximately $31,000. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Hecla Mining by 134.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,670 shares of the basic materials company's stock worth $32,000 after purchasing an additional 957 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Hecla Mining Price Performance

NYSE:HL opened at $19.77 on Friday. Hecla Mining Company has a 12 month low of $10.38 and a 12 month high of $34.17. The firm has a market capitalization of $13.28 billion, a PE ratio of 40.36 and a beta of 1.38. The business's fifty day moving average price is $17.55 and its 200 day moving average price is $18.06.

Hecla Mining (NYSE:HL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%. The business had revenue of $333.85 million during the quarter, compared to analyst estimates of $368.75 million. During the same period last year, the company earned $0.09 earnings per share. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities analysts anticipate that Hecla Mining Company will post 0.46 EPS for the current year.

Hecla Mining Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th were issued a $0.0038 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, August 26th. Hecla Mining's payout ratio is presently 2.04%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Weiss Ratings raised Hecla Mining from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday. Jefferies Financial Group began coverage on Hecla Mining in a research note on Thursday, August 20th. They set a "hold" rating and a $22.00 target price for the company. Scotiabank reduced their price target on shares of Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Finally, Zacks Research raised Hecla Mining to a "hold" rating in a research note on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $23.82.

Hecla Mining Company Profile

Hecla Mining Company NYSE: HL is a precious and base metals mining company focused primarily on the exploration, development, and production of silver, gold, lead, and zinc. The company sells concentrates and refined metals produced from its mining operations and also maintains a portfolio of exploration and development properties.

Founded in 1891, Hecla is one of the oldest U.S.-based mining companies. Its operating portfolio has included the Greens Creek silver, gold, lead, and zinc mine near Juneau, Alaska; the Lucky Friday silver, lead, and zinc mine in Idaho; the Keno Hill silver district in Yukon, Canada; and the Casa Berardi gold mine in Quebec, Canada.

Through these operations and related exploration activities, Hecla serves the North American metals market, with production and mineral assets located in the United States and Canada.

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