Jupiter Asset Management Ltd. Cuts Position in Hecla Mining Company (NYSE:HL)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in Hecla Mining Company by 28.0%, selling 1,660,098 shares and holding 4,279,308 shares valued at approximately $23.8 million.
• Hecla Mining reported $0.04 earnings per share for the last quarter, missing estimates by $0.01, with revenue rising 37.9% year-over-year.
• Equities analysts have mixed opinions on Hecla Mining, with target prices ranging from $5.00 to $8.00 and an average rating of "Hold" on the stock.

Jupiter Asset Management Ltd. cut its position in Hecla Mining Company (NYSE:HL - Free Report) by 28.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,279,308 shares of the basic materials company's stock after selling 1,660,098 shares during the quarter. Jupiter Asset Management Ltd. owned 0.68% of Hecla Mining worth $23,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Hecla Mining by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 61,393,040 shares of the basic materials company's stock worth $301,440,000 after buying an additional 774,000 shares in the last quarter. Tidal Investments LLC grew its holdings in Hecla Mining by 100.5% during the 4th quarter. Tidal Investments LLC now owns 15,885,647 shares of the basic materials company's stock worth $77,999,000 after acquiring an additional 7,960,826 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Hecla Mining by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 13,904,662 shares of the basic materials company's stock valued at $68,289,000 after purchasing an additional 39,421 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Hecla Mining by 5.0% in the 4th quarter. Northern Trust Corp now owns 6,098,558 shares of the basic materials company's stock valued at $29,944,000 after purchasing an additional 289,865 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Hecla Mining by 182.4% during the 4th quarter. Marshall Wace LLP now owns 5,006,115 shares of the basic materials company's stock worth $24,580,000 after purchasing an additional 3,233,116 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Hecla Mining Stock Performance

Shares of HL stock traded down $0.06 during trading hours on Wednesday, hitting $6.09. The stock had a trading volume of 10,631,654 shares, compared to its average volume of 20,671,281. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 0.75. The firm has a market capitalization of $3.85 billion, a PE ratio of 55.32 and a beta of 1.27. The stock's 50 day moving average is $5.95 and its 200 day moving average is $5.63. Hecla Mining Company has a twelve month low of $4.46 and a twelve month high of $7.68.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HL shares. National Bankshares set a $7.00 price target on Hecla Mining in a research note on Friday, June 13th. National Bank Financial upgraded Hecla Mining to a "hold" rating in a research note on Thursday, June 12th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $5.50 price target (down from $7.50) on shares of Hecla Mining in a report on Monday, May 5th. CIBC raised their price objective on shares of Hecla Mining from $7.50 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Finally, Roth Capital restated a "neutral" rating and issued a $6.00 target price on shares of Hecla Mining in a report on Tuesday, July 1st. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Hecla Mining currently has a consensus rating of "Hold" and a consensus target price of $7.07.

Insiders Place Their Bets

In other news, VP Stuart Maurice Absolom sold 18,926 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $6.66, for a total transaction of $126,047.16. Following the completion of the sale, the vice president owned 59,410 shares in the company, valued at approximately $395,670.60. This represents a 24.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by corporate insiders.

About Hecla Mining

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.