MERIAN GLOBAL INVESTORS UK Ltd lifted its holdings in Hecla Mining (NYSE:HL) by 10.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,850,811 shares of the basic materials company’s stock after purchasing an additional 351,600 shares during the quarter. MERIAN GLOBAL INVESTORS UK Ltd owned 0.81% of Hecla Mining worth $10,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the company. OppenheimerFunds Inc. purchased a new stake in Hecla Mining during the second quarter valued at $661,000. Merriman Wealth Management LLC purchased a new stake in Hecla Mining during the second quarter valued at $1,056,000. Stevens Capital Management LP purchased a new stake in Hecla Mining during the second quarter valued at $219,000. Van ECK Associates Corp increased its position in Hecla Mining by 7.4% during the second quarter. Van ECK Associates Corp now owns 44,849,502 shares of the basic materials company’s stock valued at $156,076,000 after acquiring an additional 3,102,585 shares during the last quarter. Finally, Royce & Associates LP increased its position in Hecla Mining by 2.9% during the second quarter. Royce & Associates LP now owns 1,889,564 shares of the basic materials company’s stock valued at $6,576,000 after acquiring an additional 53,000 shares during the last quarter. Hedge funds and other institutional investors own 51.58% of the company’s stock.
A number of research firms recently commented on HL. Canaccord Genuity cut Hecla Mining from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. HC Wainwright set a $7.00 price target on Hecla Mining and gave the company a “buy” rating in a report on Wednesday, September 26th. B. Riley cut their price target on Hecla Mining from $5.00 to $3.75 and set a “buy” rating for the company in a report on Thursday, September 20th. Zacks Investment Research lowered Hecla Mining from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Finally, ValuEngine raised Hecla Mining from a “strong sell” rating to a “sell” rating in a report on Monday, September 17th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $4.67.
NYSE:HL opened at $2.93 on Friday. Hecla Mining has a 52-week low of $2.59 and a 52-week high of $5.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.35 and a quick ratio of 2.77. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 26.27, a P/E/G ratio of 144.50 and a beta of 0.19.
Hecla Mining (NYSE:HL) last released its quarterly earnings results on Thursday, August 9th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter. Hecla Mining had a positive return on equity of 2.91% and a negative net margin of 1.02%. The business had revenue of $147.30 million during the quarter, compared to analyst estimates of $143.33 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. Hecla Mining’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts predict that Hecla Mining will post 0.02 EPS for the current year.
Hecla Mining Company Profile
Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal deposits worldwide. The company offers zinc, lead, and bulk flotation concentrates to custom smelters and brokers; and unrefined gold and silver bullion bars to precious metals traders.
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