Royal Bank of Canada Sells 100,957 Shares of Hecla Mining Company $HL

Key Points

• Royal Bank of Canada reduced its Hecla Mining stake by 46.4%, selling 100,957 shares during the first quarter and retaining 116,531 shares valued at approximately $2.17 million.
• Hecla Mining reported quarterly revenue of $333.85 million and earnings of $0.17 per share, both below analyst expectations, although revenue increased 9.8% year over year.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $24.12 versus the stock’s reported price of $18.87. The company also declared a quarterly dividend of $0.0038 per share.

Royal Bank of Canada cut its holdings in shares of Hecla Mining Company (NYSE:HL - Free Report) by 46.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 116,531 shares of the basic materials company's stock after selling 100,957 shares during the quarter. Royal Bank of Canada's holdings in Hecla Mining were worth $2,171,000 at the end of the most recent quarter.

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

Hecla Mining Stock Performance

Shares of NYSE:HL opened at $18.87 on Tuesday. Hecla Mining Company has a fifty-two week low of $7.40 and a fifty-two week high of $34.17. The business has a 50-day simple moving average of $15.71 and a two-hundred day simple moving average of $18.38. The firm has a market cap of $12.68 billion, a price-to-earnings ratio of 38.51 and a beta of 1.32.

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

Hecla Mining Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings upgraded Hecla Mining from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Wall Street Zen lowered shares of Hecla Mining from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Canaccord Genuity Group raised shares of Hecla Mining from a "hold" rating to a "buy" rating and set a $24.00 target price for the company in a research report on Wednesday, April 29th. Zacks Research raised shares of Hecla Mining to a "hold" rating in a research note on Friday, July 17th. Finally, HC Wainwright reduced their price target on shares of Hecla Mining from $36.50 to $26.75 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $24.12.

Hecla Mining 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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