Hecla Mining Company (NYSE:HL) Shares Sold by SCP Investment LP

SCP Investment LP trimmed its stake in Hecla Mining Company (NYSE:HL) by 48.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,800 shares of the basic materials company’s stock after selling 14,000 shares during the period. SCP Investment LP’s holdings in Hecla Mining were worth $82,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. American Century Companies Inc. increased its stake in Hecla Mining by 1.8% during the 4th quarter. American Century Companies Inc. now owns 1,275,604 shares of the basic materials company’s stock worth $6,263,000 after buying an additional 22,809 shares during the period. Vanguard Group Inc. grew its stake in shares of Hecla Mining by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 61,393,040 shares of the basic materials company’s stock worth $301,440,000 after acquiring an additional 774,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Hecla Mining by 20.3% during the fourth quarter. JPMorgan Chase & Co. now owns 4,189,473 shares of the basic materials company’s stock worth $20,570,000 after acquiring an additional 707,712 shares during the period. Norges Bank acquired a new stake in shares of Hecla Mining in the fourth quarter valued at $7,855,000. Finally, Pictet Asset Management Holding SA boosted its holdings in Hecla Mining by 16.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 83,791 shares of the basic materials company’s stock valued at $411,000 after purchasing an additional 11,665 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hecla Mining

In other Hecla Mining news, Director Catherine J. Boggs acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average price of $4.99 per share, for a total transaction of $99,800.00. Following the completion of the purchase, the director directly owned 348,169 shares in the company, valued at $1,737,363.31. The trade was a 6.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Stuart Maurice Absolom sold 18,926 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $6.66, for a total value of $126,047.16. Following the transaction, the vice president owned 59,410 shares of the company’s stock, valued at $395,670.60. This represents a 24.16% decrease in their position. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HL shares. National Bankshares set a $7.00 price objective on shares of Hecla Mining in a research report on Friday, June 13th. BMO Capital Markets reiterated a “market perform” rating and issued a $5.50 price target (down previously from $7.50) on shares of Hecla Mining in a research report on Monday, May 5th. National Bank Financial raised Hecla Mining to a “hold” rating in a research report on Thursday, June 12th. CIBC increased their price target on shares of Hecla Mining from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Finally, TD Securities reduced their target price on Hecla Mining from $6.00 to $5.00 and set a “hold” rating for the company in a report on Monday, May 5th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Hecla Mining has a consensus rating of “Hold” and a consensus price target of $7.07.

Hecla Mining Stock Down 0.9%

Shares of NYSE:HL opened at $5.69 on Friday. The company has a 50 day moving average of $5.91 and a two-hundred day moving average of $5.62. The company has a quick ratio of 0.75, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 51.73 and a beta of 1.27. Hecla Mining Company has a 52-week low of $4.41 and a 52-week high of $7.68.

Hecla Mining (NYSE:HL) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $261.34 million during the quarter, compared to analyst estimates of $238.50 million. Hecla Mining had a return on equity of 3.87% and a net margin of 7.13%. The firm’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) earnings per share. As a group, analysts forecast that Hecla Mining Company will post 0.21 earnings per share for the current fiscal year.

Hecla Mining Company Profile

Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States, Canada, Japan, Korea, and China. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for custom smelters, metal traders, and third-party processors; and doré containing silver and gold.