Assenagon Asset Management S.A. Acquires New Stake in Hecla Mining Company $HL

Key Points

• Assenagon Asset Management acquired 190,580 shares of Hecla Mining in the second quarter, valued at approximately $2.94 million. Institutional investors collectively own 63.01% of the company.
• Analyst sentiment remains mixed, with an average rating of “Hold” from eight analysts and an average price target of $24.12. Recent actions included both upgrades to “Buy” and reduced price targets.
• Hecla Mining reported quarterly earnings of $0.17 per share, narrowly missing estimates, while revenue of $333.85 million also fell short of expectations but increased 9.8% year over year. The company declared a quarterly dividend of $0.0038 per share, yielding about 0.1%.

Assenagon Asset Management S.A. bought a new position in Hecla Mining Company (NYSE:HL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 190,580 shares of the basic materials company's stock, valued at approximately $2,941,000.

Other large investors have also recently made changes to their positions in the company. U S Global Investors Inc. purchased a new stake in Hecla Mining in the first quarter valued at approximately $1,397,000. Geode Capital Management LLC lifted its stake in shares of Hecla Mining by 11.9% in the 4th quarter. Geode Capital Management LLC now owns 16,620,647 shares of the basic materials company's stock valued at $319,000,000 after acquiring an additional 1,770,949 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Hecla Mining during the fourth quarter valued at approximately $88,417,000. Sigma Planning Corp boosted its position in Hecla Mining by 395.4% during the 1st quarter. Sigma Planning Corp now owns 107,229 shares of the basic materials company's stock valued at $1,998,000 after buying an additional 85,583 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Hecla Mining by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 4,689,144 shares of the basic materials company's stock worth $87,359,000 after purchasing an additional 112,962 shares during the period. 63.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HL. Wall Street Zen cut Hecla Mining from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Scotiabank cut their price objective on shares of Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 14th. Canaccord Genuity Group raised Hecla Mining from a "hold" rating to a "buy" rating and set a $24.00 target price for the company in a report on Wednesday, April 29th. Zacks Research upgraded shares of Hecla Mining to a "hold" rating in a research note on Friday, July 17th. Finally, HC Wainwright reduced their price objective 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. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $24.12.

Hecla Mining Price Performance

NYSE:HL opened at $17.76 on Friday. The business has a 50 day simple moving average of $15.56 and a 200-day simple moving average of $18.53. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of 36.24 and a beta of 1.32. Hecla Mining Company has a 1 year low of $7.40 and a 1 year high of $34.17.

Hecla Mining (NYSE:HL - Get Free Report) last released its earnings results on Tuesday, August 4th. The basic materials company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The business had revenue of $333.85 million for the quarter, compared to the consensus estimate of $368.75 million. Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. As a group, analysts expect that Hecla Mining Company will post 0.47 earnings per share for the current fiscal year.

Hecla Mining Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be given a dividend of $0.0038 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $0.01 dividend on an annualized basis and a yield of 0.1%. Hecla Mining's dividend payout ratio is presently 2.04%.

Hecla Mining Profile

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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