Neo Ivy Capital Management Decreases Position in Hecla Mining Company (NYSE:HL)

Key Points

• Neo Ivy Capital Management has significantly reduced its stake in Hecla Mining Company by 92.0%, selling 290,037 shares and leaving it with only 25,116 shares valued at approximately $140,000.
• Hecla Mining reported a net margin of 7.13% and a quarterly revenue of $261.34 million, which surpassed analyst estimates of $238.50 million, despite missing earnings per share expectations.
• The company has a current consensus rating of "Hold" from analysts, with a target price averaging around $7.07 based on multiple research reports.

Neo Ivy Capital Management cut its stake in shares of Hecla Mining Company (NYSE:HL - Free Report) by 92.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,116 shares of the basic materials company's stock after selling 290,037 shares during the quarter. Neo Ivy Capital Management's holdings in Hecla Mining were worth $140,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in Hecla Mining by 23.3% during the first quarter. Cetera Investment Advisers now owns 59,086 shares of the basic materials company's stock worth $329,000 after purchasing an additional 11,174 shares during the last quarter. Abel Hall LLC acquired a new stake in Hecla Mining during the first quarter worth approximately $64,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Hecla Mining during the 1st quarter worth approximately $2,042,000. Choreo LLC boosted its holdings in shares of Hecla Mining by 16.3% in the 1st quarter. Choreo LLC now owns 21,561 shares of the basic materials company's stock valued at $120,000 after buying an additional 3,018 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. grew its position in shares of Hecla Mining by 400.0% in the 1st quarter. Hussman Strategic Advisors Inc. now owns 255,000 shares of the basic materials company's stock valued at $1,418,000 after buying an additional 204,000 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. TD Securities dropped their price objective on Hecla Mining from $6.00 to $5.00 and set a "hold" rating on the stock in a report on Monday, May 5th. CIBC raised their price target on Hecla Mining from $7.50 to $8.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Roth Capital reiterated a "neutral" rating and issued a $6.00 price objective on shares of Hecla Mining in a research note on Tuesday, July 1st. BMO Capital Markets reissued a "market perform" rating and issued a $5.50 price objective (down from $7.50) on shares of Hecla Mining in a report on Monday, May 5th. Finally, National Bankshares set a $7.00 target price on shares of Hecla Mining in a report on Friday, June 13th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Hecla Mining currently has a consensus rating of "Hold" and a consensus price target of $7.07.

Insider Activity

In other news, Director Catherine J. Boggs acquired 20,000 shares of Hecla Mining stock in a transaction that occurred on Wednesday, May 7th. The stock was purchased at an average price of $4.99 per share, for a total transaction of $99,800.00. Following the completion of the transaction, the director directly owned 348,169 shares in the company, valued at approximately $1,737,363.31. This trade represents a 6.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stuart Maurice Absolom sold 18,926 shares of Hecla Mining stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $6.66, for a total value 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 trade represents a 24.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Hecla Mining Stock Performance

Shares of HL stock traded down $0.01 during midday trading on Wednesday, hitting $6.02. The company had a trading volume of 4,278,417 shares, compared to its average volume of 20,731,043. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 54.69 and a beta of 1.47. 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 company's 50 day simple moving average is $5.87 and its 200 day simple moving average is $5.61. Hecla Mining Company has a 52-week low of $4.41 and a 52-week high of $7.68.

Hecla Mining (NYSE:HL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $261.34 million for the quarter, compared to analyst estimates of $238.50 million. Hecla Mining had a return on equity of 3.87% and a net margin of 7.13%. Hecla Mining's revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) earnings per share. Research analysts anticipate that Hecla Mining Company will post 0.21 earnings per share for the current fiscal year.

Hecla Mining Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 23rd were issued a $0.0038 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend was Friday, May 23rd. Hecla Mining's payout ratio is 9.09%.

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.