Weiss Asset Management LP Has $8.53 Million Holdings in Hecla Mining Company $HL

Key Points

• Weiss Asset Management LP cut its Hecla Mining stake by 45.9% in the first quarter, ending with 458,020 shares valued at about $8.53 million.
• Wall Street’s view on Hecla Mining is mixed but cautious, with a consensus rating of “Hold” and an average price target of $24.12 after several analyst upgrades and downgrades.
• Hecla Mining reported stronger revenue but missed earnings expectations in its latest quarter, posting $0.24 EPS versus the $0.27 estimate while revenue rose 57.4% year over year to $411.43 million.

Weiss Asset Management LP lessened its holdings in shares of Hecla Mining Company (NYSE:HL - Free Report) by 45.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,020 shares of the basic materials company's stock after selling 388,040 shares during the quarter. Weiss Asset Management LP owned approximately 0.07% of Hecla Mining worth $8,533,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Veracity Capital LLC lifted its position in shares of Hecla Mining by 4.0% in the fourth quarter. Veracity Capital LLC now owns 11,005 shares of the basic materials company's stock worth $211,000 after purchasing an additional 419 shares in the last quarter. CWM LLC grew its position in Hecla Mining by 1.4% during the fourth quarter. CWM LLC now owns 31,853 shares of the basic materials company's stock valued at $611,000 after purchasing an additional 434 shares in the last quarter. Blue Trust Inc. increased its stake in Hecla Mining by 9.5% in the 4th quarter. Blue Trust Inc. now owns 5,786 shares of the basic materials company's stock valued at $111,000 after buying an additional 500 shares during the period. Parallel Advisors LLC increased its stake in Hecla Mining by 33.9% in the 4th quarter. Parallel Advisors LLC now owns 2,011 shares of the basic materials company's stock valued at $39,000 after buying an additional 509 shares during the period. Finally, Root Financial Partners LLC lifted its position in Hecla Mining by 26.9% in the 1st quarter. Root Financial Partners LLC now owns 2,540 shares of the basic materials company's stock worth $47,000 after buying an additional 538 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HL shares. Wall Street Zen lowered shares of Hecla Mining from a "buy" rating to a "hold" rating in a research note 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 price target on the stock in a research note on Wednesday, April 29th. Weiss Ratings lowered Hecla Mining from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, June 5th. Zacks Research upgraded Hecla Mining to a "hold" rating in a report on Friday, July 17th. Finally, HC Wainwright reduced their price objective on Hecla Mining from $36.50 to $26.75 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $24.12.

Hecla Mining Trading Down 1.3%

Hecla Mining stock opened at $15.12 on Friday. Hecla Mining Company has a one year low of $5.62 and a one year high of $34.17. The company's fifty day moving average price is $15.91 and its two-hundred day moving average price is $19.48. 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 company has a market capitalization of $10.14 billion, a price-to-earnings ratio of 36.87 and a beta of 1.29.

Hecla Mining (NYSE:HL - Get Free Report) last announced its quarterly 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). The company had revenue of $411.43 million during the quarter, compared to analyst estimates of $407.63 million. Hecla Mining had a return on equity of 16.89% and a net margin of 17.41%.Hecla Mining's quarterly revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 EPS. On average, analysts forecast that Hecla Mining Company will post 0.47 earnings per share for the current fiscal year.

Hecla Mining Dividend Announcement

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