Electrum Group LLC Takes Position in Hecla Mining Company $HL

Key Points

• Electrum Group LLC acquired 356,251 Hecla Mining shares in the second quarter, giving it a 0.05% stake and making HL approximately 0.2% of its portfolio. Institutional investors own 63.01% of the company.
• Hecla Mining reported quarterly EPS of $0.17, slightly below the $0.18 consensus estimate, while revenue of $333.85 million rose 9.8% year over year but missed expectations.
• The company declared a quarterly dividend of $0.0038 per share, representing a 0.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $24.12.

Electrum Group LLC purchased a new stake in shares of Hecla Mining Company (NYSE:HL - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 356,251 shares of the basic materials company's stock, valued at approximately $5,496,953,000. Hecla Mining makes up about 0.2% of Electrum Group LLC's investment portfolio, making the stock its 8th largest position. Electrum Group LLC owned 0.05% of Hecla Mining at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in Hecla Mining by 20.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,285,345 shares of the basic materials company's stock valued at $23,827,000 after buying an additional 739,360 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Hecla Mining by 24.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,959,276 shares of the basic materials company's stock worth $10,894,000 after buying an additional 380,448 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Hecla Mining by 10.9% in the second quarter. Cetera Investment Advisers now owns 65,536 shares of the basic materials company's stock valued at $393,000 after acquiring an additional 6,450 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Hecla Mining by 71.6% in the second quarter. Prudential Financial Inc. now owns 78,395 shares of the basic materials company's stock valued at $435,000 after acquiring an additional 32,714 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Hecla Mining by 1.8% during the second quarter. Russell Investments Group Ltd. now owns 153,867 shares of the basic materials company's stock valued at $922,000 after acquiring an additional 2,793 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Hecla Mining Trading Down 4.7%

Shares of Hecla Mining stock opened at $17.94 on Wednesday. The company's 50-day moving average price is $15.78 and its 200-day moving average price is $18.31. Hecla Mining Company has a 12-month low of $7.40 and a 12-month high of $34.17. The company has a market cap of $12.05 billion, a price-to-earnings ratio of 36.62 and a beta of 1.32.

Hecla Mining (NYSE:HL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $368.75 million. During the same period in the prior year, the business posted $0.09 EPS. Hecla Mining's quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts predict that Hecla Mining Company will post 0.47 earnings per share for the current year.

Hecla Mining Dividend Announcement

The firm 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 $0.0038 dividend. This represents a $0.01 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Wednesday, August 26th. Hecla Mining's dividend payout ratio (DPR) is presently 2.04%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Scotiabank cut their price objective on 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. Wall Street Zen lowered Hecla Mining from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Canaccord Genuity Group upgraded Hecla Mining from a "hold" rating to a "buy" rating and set a $24.00 target price on the stock in a research note on Wednesday, April 29th. HC Wainwright cut their price target on shares of Hecla Mining from $36.50 to $26.75 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Hecla Mining from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $24.12.

Hecla Mining Company 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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