Ninepoint Partners LP Makes New $5.53 Million Investment in Hecla Mining Company $HL

Key Points

• Ninepoint Partners LP initiated a $5.53 million position in Hecla Mining, purchasing 358,600 shares, while institutional investors collectively own 63.01% of the company.
• Hecla shares have benefited from rising gold and silver prices and elevated call-option activity, but analysts maintain a consensus “Hold” rating with an average price target of $23.82.
• The company’s latest quarter showed mixed results: earnings per share slightly missed estimates at $0.17 versus $0.18 expected, and revenue of $333.85 million fell below the $368.75 million consensus, despite 9.8% year-over-year growth.

Ninepoint Partners LP purchased a new position in shares of Hecla Mining Company (NYSE:HL - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 358,600 shares of the basic materials company's stock, valued at approximately $5,533,000. Ninepoint Partners LP owned approximately 0.05% of Hecla Mining as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its stake in Hecla Mining by 74.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company's stock worth $28,000 after buying an additional 631 shares during the period. Sittner & Nelson LLC acquired a new position in shares of Hecla Mining during the fourth quarter worth approximately $29,000. Rothschild Investment LLC lifted its holdings in shares of Hecla Mining by 93.5% in 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 in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Hecla Mining in the 4th quarter worth $31,000. Finally, CIBC Private Wealth Group LLC grew its position in Hecla Mining by 134.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,670 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 957 shares during the period. Institutional investors own 63.01% of the company's stock.

Key Hecla Mining News

Here are the key news stories impacting Hecla Mining this week:

• Positive Sentiment: Gold and silver prices rose during the week, lifting precious-metals miners. A reported Treasury Department buyback plan appears to have pressured bond-market yields and further supported demand for precious metals, helping Hecla shares surge in the prior session. Hecla Mining and Coeur Mining Spike 13% as Treasury Buyback Plan Ignites Precious Metals Rally
• Positive Sentiment: Hecla’s stock is viewed as trading at a discount to its historical valuation, potentially making it attractive to investors seeking leveraged exposure to higher silver and gold prices. Why Hecla Mining Stock Is Soaring This Week
• Positive Sentiment: Unusually strong options activity added to bullish sentiment: traders bought 40,568 call options, about 33% above the stock’s average daily call volume.
• Positive Sentiment: A GuruFocus analysis noted that HL shares had gained 14.4% and assigned the company a GF Score of 69, indicating comparatively solid fundamental and valuation characteristics. Hecla Mining Co Shares Surge 14.4%
• Neutral Sentiment: Analysts’ average rating remains “Hold,” suggesting that while the commodity-price outlook has improved, Wall Street is not broadly endorsing aggressive upside expectations. Hecla Mining Receives Average Rating of Hold
• Negative Sentiment: Hecla’s latest quarterly results slightly missed earnings expectations, while revenue also came in below consensus, highlighting execution and valuation risks if precious-metals prices retreat.

Analysts Set New Price Targets

A number of brokerages have commented on HL. Jefferies Financial Group assumed coverage on shares of Hecla Mining in a research note on Thursday. They set a "hold" rating and a $22.00 price target for the company. Scotiabank reduced their price objective on shares of Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. HC Wainwright lowered their target price 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. Zacks Research raised shares of Hecla Mining to a "hold" rating in a research report on Friday, July 17th. Finally, Weiss Ratings upgraded Hecla Mining from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $23.82.

Hecla Mining Price Performance

Shares of HL stock opened at $20.87 on Friday. The firm has a 50-day moving average of $16.03 and a 200-day moving average of $18.26. The company has a market cap of $14.02 billion, a P/E ratio of 42.59 and a beta of 1.32. Hecla Mining Company has a one year low of $7.51 and a one year high of $34.17.

Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%.The firm had revenue of $333.85 million for the quarter, compared to analysts' expectations of $368.75 million. During the same quarter last year, the firm posted $0.09 earnings per share. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, research analysts expect that Hecla Mining Company will post 0.47 earnings per share for the current fiscal year.

Hecla Mining Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be issued a $0.0038 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $0.01 annualized dividend and a dividend yield of 0.1%. Hecla Mining's dividend payout ratio is currently 2.04%.

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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