Balyasny Asset Management LLC raised its position in shares of Hecla Mining Company (NYSE:HL) by 395.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,500 shares of the basic materials company’s stock after buying an additional 89,810 shares during the quarter. Balyasny Asset Management LLC’s holdings in Hecla Mining were worth $574,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its stake in shares of Hecla Mining by 27.8% in the 1st quarter. Ameriprise Financial Inc. now owns 20,159 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 4,384 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Hecla Mining in the 2nd quarter valued at approximately $124,000. Pacad Investment Ltd. lifted its stake in shares of Hecla Mining by 10.4% in the 2nd quarter. Pacad Investment Ltd. now owns 27,500 shares of the basic materials company’s stock valued at $140,000 after purchasing an additional 2,600 shares during the last quarter. Advisor Group Inc. lifted its stake in shares of Hecla Mining by 148.1% in the 2nd quarter. Advisor Group Inc. now owns 27,741 shares of the basic materials company’s stock valued at $142,000 after purchasing an additional 16,561 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Hecla Mining in the 2nd quarter valued at approximately $143,000. Institutional investors and hedge funds own 59.35% of the company’s stock.
In related news, Director George R. Nethercutt, Jr. sold 62,500 shares of the firm’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $5.24, for a total transaction of $327,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.50% of the company’s stock.
HL has been the subject of a number of research analyst reports. Zacks Investment Research lowered Hecla Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. ValuEngine lowered Hecla Mining from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. TheStreet lowered Hecla Mining from a “b-” rating to a “c” rating in a research note on Thursday, August 3rd. HC Wainwright reaffirmed a “buy” rating and set a $8.50 target price on shares of Hecla Mining in a research report on Tuesday, August 29th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $5.00 target price on shares of Hecla Mining in a research report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Hecla Mining presently has a consensus rating of “Hold” and an average price target of $6.52.
Shares of Hecla Mining Company (HL) traded down 0.517% on Friday, reaching $4.815. The company had a trading volume of 877,260 shares. Hecla Mining Company has a 12 month low of $4.61 and a 12 month high of $7.64. The firm has a market capitalization of $1.92 billion, a PE ratio of 39.146 and a beta of 0.32. The firm’s 50 day moving average is $5.14 and its 200 day moving average is $5.31.
Hecla Mining (NYSE:HL) last issued its quarterly earnings data on Thursday, August 3rd. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.05). Hecla Mining had a return on equity of 2.56% and a net margin of 7.88%. The firm had revenue of $134.30 million for the quarter, compared to analysts’ expectations of $130.54 million. During the same period in the previous year, the business posted $0.06 EPS. The business’s revenue for the quarter was down 21.6% compared to the same quarter last year. On average, equities research analysts expect that Hecla Mining Company will post $0.05 earnings per share for the current fiscal year.
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Hecla Mining Company Profile
Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Company and its subsidiaries provide precious and base metals to the United States and around the world. It produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver.
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