Graham Capital Management L.P. Has $2.07 Million Holdings in Hecla Mining Company $HL

Key Points

• Graham Capital Management L.P. increased its stake in Hecla Mining Company by 106.2%, acquiring a total of 372,465 shares worth approximately $2.07 million.
• Other institutional investors, including Vanguard Group Inc. and Dimensional Fund Advisors LP, also boosted their holdings in Hecla Mining, highlighting increased interest from hedge funds and institutional investors.
• Hecla Mining reported earnings of $0.08 per share for the last quarter, exceeding analyst expectations, and has a consensus price target of $7.36 from various brokerages.

Graham Capital Management L.P. grew its stake in shares of Hecla Mining Company (NYSE:HL - Free Report) by 106.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 372,465 shares of the basic materials company's stock after purchasing an additional 191,853 shares during the quarter. Graham Capital Management L.P. owned approximately 0.06% of Hecla Mining worth $2,071,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Comerica Bank acquired a new position in Hecla Mining during the 1st quarter valued at approximately $2,964,000. Martingale Asset Management L P acquired a new position in shares of Hecla Mining during the first quarter valued at $187,000. Vanguard Group Inc. boosted its holdings in shares of Hecla Mining by 2.3% during the first quarter. Vanguard Group Inc. now owns 62,830,935 shares of the basic materials company's stock valued at $349,340,000 after acquiring an additional 1,437,895 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Hecla Mining by 8.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,578,828 shares of the basic materials company's stock worth $7,752,000 after acquiring an additional 127,756 shares during the last quarter. Finally, Pale Fire Capital SE acquired a new stake in shares of Hecla Mining in the 1st quarter worth about $41,360,000. Institutional investors own 63.01% of the company's stock.

Hecla Mining Price Performance

HL stock traded up $0.18 on Friday, hitting $9.03. 22,721,614 shares of the company's stock traded hands, compared to its average volume of 21,034,068. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 56.41 and a beta of 1.29. Hecla Mining Company has a 1-year low of $4.46 and a 1-year high of $9.12. The company has a current ratio of 2.67, a quick ratio of 1.99 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average of $6.83 and a 200-day moving average of $5.96.

Hecla Mining (NYSE:HL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $304.03 million for the quarter, compared to analysts' expectations of $248.93 million. Hecla Mining had a return on equity of 5.51% and a net margin of 9.55%.The firm's revenue was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share. On average, analysts forecast that Hecla Mining Company will post 0.21 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 22nd were given a $0.0038 dividend. The ex-dividend date was Friday, August 22nd. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.2%. Hecla Mining's dividend payout ratio (DPR) is 6.25%.

Analyst Upgrades and Downgrades

HL has been the subject of a number of analyst reports. Roth Capital reissued a "neutral" rating on shares of Hecla Mining in a research note on Thursday, August 7th. National Bankshares set a $7.00 price target on Hecla Mining in a report on Friday, June 13th. CIBC increased their price objective on Hecla Mining from $7.50 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded Hecla Mining from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, BMO Capital Markets lifted their target price on Hecla Mining from $6.00 to $6.50 and gave the company a "market perform" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $7.36.

Hecla Mining Company Profile

Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States, Canada, Japan, Korea, and China. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for custom smelters, metal traders, and third-party processors; and doré containing silver and gold.