Hecla Mining Company $HL Shares Sold by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital cut its Hecla Mining position by 50% in the first quarter, selling about 6.36 million shares. It still held 6.36 million shares worth roughly $118.4 million as of the filing.
• Analyst sentiment on HL remains mixed, with several recent price target cuts. The stock currently carries a consensus rating of “Hold” and a consensus price target of $24.12.
• Hecla Mining reported quarterly EPS of $0.24, missing estimates, while revenue came in at $411.43 million and rose 57.4% year over year. The company also paid a small quarterly dividend, equal to an annualized yield of about 0.1%.

Arrowstreet Capital Limited Partnership trimmed its position in Hecla Mining Company (NYSE:HL - Free Report) by 50.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,357,293 shares of the basic materials company's stock after selling 6,357,807 shares during the period. Arrowstreet Capital Limited Partnership owned 0.95% of Hecla Mining worth $118,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Lodestone Wealth Management LLC acquired a new position in Hecla Mining during the fourth quarter worth $28,000. Quadrant Capital Group LLC lifted its stake in Hecla Mining by 74.3% in the 4th 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 in the last quarter. Sittner & Nelson LLC purchased a new position in Hecla Mining in the 4th quarter worth approximately $29,000. Rothschild Investment LLC boosted its holdings in shares of Hecla Mining by 93.5% during the 4th 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 during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Hecla Mining in the fourth quarter valued at approximately $31,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HL shares. Scotiabank reduced 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. HC Wainwright decreased their price objective on Hecla Mining from $36.50 to $26.75 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Wall Street Zen cut Hecla Mining from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings cut Hecla Mining from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, June 5th. Finally, Zacks Research raised Hecla Mining to a "hold" rating in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Hecla Mining currently has a consensus rating of "Hold" and a consensus price target of $24.12.

Hecla Mining Stock Performance

NYSE HL opened at $15.12 on Friday. The stock has a market cap of $10.14 billion, a price-to-earnings ratio of 36.87 and a beta of 1.29. The company has a quick ratio of 4.53, a current ratio of 4.94 and a debt-to-equity ratio of 0.10. Hecla Mining Company has a fifty-two week low of $5.62 and a fifty-two week high of $34.17. The business has a fifty day moving average of $15.91 and a 200-day moving average of $19.48.

Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). Hecla Mining had a net margin of 17.41% and a return on equity of 16.89%. The firm had revenue of $411.43 million during the quarter, compared to analyst estimates of $407.63 million. During the same period in the prior year, the firm earned $0.04 earnings per share. The business's revenue for the quarter was up 57.4% on a year-over-year basis. As a group, analysts predict that Hecla Mining Company will post 0.47 earnings per share for the current fiscal year.

Hecla Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd were issued a $0.0038 dividend. This represents a $0.01 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Friday, May 22nd. Hecla Mining's payout ratio is currently 2.44%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.