Bessemer Group Inc. Sells 451,307 Shares of Hecla Mining Company $HL

Bessemer Group Inc. reduced its position in Hecla Mining Company (NYSE:HL) by 42.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 600,901 shares of the basic materials company’s stock after selling 451,307 shares during the period. Bessemer Group Inc. owned about 0.09% of Hecla Mining worth $11,196,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of HL. Allspring Global Investments Holdings LLC bought a new stake in Hecla Mining in the first quarter valued at approximately $378,000. Independent Financial Group LLC bought a new position in shares of Hecla Mining during the 1st quarter worth approximately $293,000. Wealthfront Advisers LLC boosted its stake in shares of Hecla Mining by 43.3% during the 1st quarter. Wealthfront Advisers LLC now owns 17,670 shares of the basic materials company’s stock worth $329,000 after acquiring an additional 5,338 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Hecla Mining by 2.5% during the 1st quarter. Bank of New York Mellon Corp now owns 4,689,144 shares of the basic materials company’s stock worth $87,359,000 after acquiring an additional 112,962 shares during the period. Finally, Three Seasons Wealth LLC acquired a new position in shares of Hecla Mining during the 1st quarter worth approximately $462,000. Institutional investors own 63.01% of the company’s stock.

Hecla Mining Price Performance

Hecla Mining stock opened at $14.40 on Monday. The firm has a market cap of $9.66 billion, a PE ratio of 35.12 and a beta of 1.29. 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 stock’s fifty day moving average price is $16.38 and its two-hundred day moving average price is $19.62. Hecla Mining Company has a one year low of $5.62 and a one year high of $34.17.

Hecla Mining (NYSE:HL) last released its 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 for the quarter, compared to the consensus estimate of $407.63 million. Hecla Mining had a net margin of 17.41% and a return on equity of 16.89%. The business’s revenue was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 earnings per share. As a group, research analysts expect that Hecla Mining Company will post 0.47 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors 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 annualized dividend and a yield of 0.1%. Hecla Mining’s dividend payout ratio is currently 2.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on HL shares. Scotiabank dropped their price target on Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. HC Wainwright reduced 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 upgraded shares of Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Wednesday, April 29th. Wall Street Zen lowered shares of Hecla Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings cut shares of Hecla Mining from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, June 5th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $24.12.

Hecla Mining 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.