Sigma Planning Corp Has $2 Million Stock Position in Hecla Mining Company $HL

Key Points

• Sigma Planning Corp sharply increased its Hecla Mining stake by 395.4% in the first quarter, ending with 107,229 shares worth about $2.0 million.
• Institutional ownership remains high, with several other funds also boosting positions; overall, 63.01% of Hecla Mining stock is held by institutional investors and hedge funds.
• Analysts are cautious on the stock: the consensus rating is Hold with an average price target of $24.12, while Hecla recently reported Q1 EPS of $0.24, missing estimates even as revenue rose 57.4% year over year.

Sigma Planning Corp lifted its stake in Hecla Mining Company (NYSE:HL - Free Report) by 395.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,229 shares of the basic materials company's stock after purchasing an additional 85,583 shares during the period. Sigma Planning Corp's holdings in Hecla Mining were worth $1,998,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in HL. Goldman Sachs Group Inc. lifted its stake in Hecla Mining by 20.9% in the first quarter. Goldman Sachs Group Inc. now owns 4,285,345 shares of the basic materials company's stock valued at $23,827,000 after buying an additional 739,360 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Hecla Mining by 24.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,959,276 shares of the basic materials company's stock worth $10,894,000 after acquiring an additional 380,448 shares during the last quarter. Cetera Investment Advisers boosted its stake in Hecla Mining by 10.9% during the 2nd quarter. Cetera Investment Advisers now owns 65,536 shares of the basic materials company's stock worth $393,000 after acquiring an additional 6,450 shares during the last quarter. Prudential Financial Inc. grew its holdings in Hecla Mining by 71.6% during the second quarter. Prudential Financial Inc. now owns 78,395 shares of the basic materials company's stock valued at $435,000 after purchasing an additional 32,714 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Hecla Mining by 1.8% during the second quarter. Russell Investments Group Ltd. now owns 153,867 shares of the basic materials company's stock valued at $922,000 after purchasing an additional 2,793 shares during the period. 63.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HL has been the topic of several analyst reports. Wall Street Zen lowered shares of Hecla Mining from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Scotiabank decreased their price target 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. HC Wainwright lowered their price objective on shares of Hecla Mining from $36.50 to $26.75 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Canaccord Genuity Group raised Hecla Mining from a "hold" rating to a "buy" rating and set a $24.00 price objective on the stock in a research note on Wednesday, April 29th. Finally, Weiss Ratings lowered Hecla Mining from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, June 5th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $24.12.

Hecla Mining Price Performance

NYSE HL opened at $14.53 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.53 and a current ratio of 4.94. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 35.44 and a beta of 1.29. The business has a 50 day simple moving average of $16.46 and a 200 day simple moving average of $19.66. Hecla Mining Company has a 52-week low of $5.62 and a 52-week high of $34.17.

Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.24 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $407.63 million. During the same quarter last year, the company earned $0.04 EPS. The firm's quarterly revenue was up 57.4% compared to the same quarter last year.

Hecla Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 22nd were given a $0.0038 dividend. This represents a $0.01 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Friday, May 22nd. Hecla Mining's payout ratio is currently 2.44%.

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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