Renaissance Technologies LLC Purchases Shares of 3,900,100 Hecla Mining Company $HL

Key Points

• Renaissance Technologies bought 3,900,100 shares of Hecla Mining in the first quarter, a position valued at about $72.7 million and equal to roughly 0.58% of the company.
• Hecla Mining’s stock has drawn mixed analyst attention: recent rating changes included downgrades, and the overall consensus remains “Hold” with a target price of $24.12.
• The company reported Q1 earnings of $0.24 per share, missing expectations, while revenue came in at $411.4 million and rose 57.4% year over year; Hecla also paid a small quarterly dividend yielding about 0.1%.

Renaissance Technologies LLC purchased a new position in shares of Hecla Mining Company (NYSE:HL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,900,100 shares of the basic materials company's stock, valued at approximately $72,659,000. Renaissance Technologies LLC owned approximately 0.58% of Hecla Mining at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Lodestone Wealth Management LLC bought a new position in shares of Hecla Mining during the 4th quarter worth approximately $28,000. Quadrant Capital Group LLC lifted its holdings 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 valued at $28,000 after purchasing an additional 631 shares during the last quarter. Sittner & Nelson LLC acquired a new stake in Hecla Mining during the 4th quarter valued at $29,000. Rothschild Investment LLC boosted its position in Hecla Mining by 93.5% during the fourth 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 period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Hecla Mining in the fourth quarter valued at $31,000. Institutional investors own 63.01% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Weiss Ratings cut shares of Hecla Mining from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, June 5th. Wall Street Zen lowered shares of Hecla Mining from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. HC Wainwright lowered their price target 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. Scotiabank cut 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 research report on Tuesday, July 14th. Finally, Zacks Research raised Hecla Mining to a "hold" rating in a research report on Friday, July 17th. Two 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 target price of $24.12.

Hecla Mining Price Performance

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

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

Hecla Mining Announces Dividend

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

About Hecla Mining

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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