Hecla Mining Company $HL Stake Lowered by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP reduced its stake in Hecla Mining Company by 12.0% during the first quarter, now holding 538,257 shares valued at approximately $2.99 million.
• Multiple institutional investors have recently increased their positions in Hecla Mining, with 63.01% of the stock owned by hedge funds and others.
• Hecla Mining reported a net revenue of $304.03 million for the latest quarter, exceeding analysts' expectations by a significant margin and showcasing a year-over-year revenue increase of 23.8%.

Quantbot Technologies LP decreased its position in Hecla Mining Company (NYSE:HL - Free Report) by 12.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 538,257 shares of the basic materials company's stock after selling 73,521 shares during the quarter. Quantbot Technologies LP owned 0.09% of Hecla Mining worth $2,993,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Hecla Mining in the fourth quarter valued at $1,640,000. Sterling Capital Management LLC lifted its holdings in Hecla Mining by 811.4% in the 4th quarter. Sterling Capital Management LLC now owns 18,511 shares of the basic materials company's stock worth $91,000 after buying an additional 16,480 shares in the last quarter. Barclays PLC boosted its position in Hecla Mining by 11.8% in the 4th quarter. Barclays PLC now owns 1,016,903 shares of the basic materials company's stock valued at $4,992,000 after buying an additional 107,092 shares during the last quarter. Forum Financial Management LP grew its stake in shares of Hecla Mining by 148.8% during the fourth quarter. Forum Financial Management LP now owns 24,940 shares of the basic materials company's stock valued at $122,000 after acquiring an additional 14,915 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Hecla Mining by 3.6% during the fourth quarter. MetLife Investment Management LLC now owns 337,777 shares of the basic materials company's stock valued at $1,658,000 after acquiring an additional 11,649 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on HL shares. Roth Capital reiterated a "neutral" rating on shares of Hecla Mining in a research note on Thursday, August 7th. National Bankshares set a $7.00 price objective on Hecla Mining in a report on Friday, June 13th. TD Securities cut their target price on Hecla Mining from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Wall Street Zen raised shares of Hecla Mining from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, BMO Capital Markets lifted their price target on shares of Hecla Mining from $6.00 to $6.50 and gave the stock 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, Hecla Mining has a consensus rating of "Hold" and an average target price of $7.36.

Insider Activity

In other news, VP Stuart Maurice Absolom sold 18,926 shares of Hecla Mining stock in a transaction dated 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 transaction, the vice president directly owned 59,410 shares of the company's stock, valued at approximately $395,670.60. The trade was a 24.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company's stock.

Hecla Mining Stock Up 1.6%

NYSE HL traded up $0.12 on Tuesday, hitting $7.98. 21,082,728 shares of the stock traded hands, compared to its average volume of 21,837,828. 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 50-day moving average of $6.45 and a 200 day moving average of $5.83. Hecla Mining Company has a twelve month low of $4.46 and a twelve month high of $8.04. The company has a market capitalization of $5.35 billion, a P/E ratio of 49.89 and a beta of 1.27.

Hecla Mining (NYSE:HL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. Hecla Mining had a return on equity of 5.51% and a net margin of 9.55%.The business had revenue of $304.03 million during the quarter, compared to the consensus estimate of $248.93 million. During the same period in the previous year, the business earned $0.02 EPS. The business's quarterly revenue was up 23.8% on a year-over-year basis. As a group, analysts expect that Hecla Mining Company will post 0.21 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 4th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.0038 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, August 22nd. Hecla Mining's dividend payout ratio is 6.25%.

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.