California Public Employees Retirement System raised its position in Hecla Mining Company (NYSE:HL) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 712,328 shares of the basic materials company’s stock after purchasing an additional 17,900 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Hecla Mining worth $3,633,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameriprise Financial Inc. grew its stake in Hecla Mining by 27.8% in the first 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 in the last quarter. Trexquant Investment LP bought a new stake in shares of Hecla Mining during the 2nd quarter worth about $124,000. Pacad Investment Ltd. boosted its stake in shares of Hecla Mining by 10.4% during the 2nd quarter. Pacad Investment Ltd. now owns 27,500 shares of the basic materials company’s stock worth $140,000 after acquiring an additional 2,600 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Hecla Mining during the 2nd quarter worth about $143,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of Hecla Mining by 2.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 31,773 shares of the basic materials company’s stock worth $162,000 after acquiring an additional 802 shares in the last quarter. Hedge funds and other institutional investors own 59.35% of the company’s stock.
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Shares of Hecla Mining Company (NYSE:HL) opened at 5.01 on Tuesday. The stock’s 50 day moving average price is $5.16 and its 200 day moving average price is $5.32. Hecla Mining Company has a 1-year low of $4.61 and a 1-year high of $7.64. The company has a market cap of $2.00 billion, a P/E ratio of 40.73 and a beta of 0.32.
Hecla Mining (NYSE:HL) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.05). The company had revenue of $134.30 million during the quarter, compared to the consensus estimate of $130.54 million. Hecla Mining had a net margin of 7.88% and a return on equity of 2.56%. Hecla Mining’s revenue was down 21.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. Equities research analysts forecast that Hecla Mining Company will post $0.05 earnings per share for the current year.
In other 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 value of $327,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by company insiders.
Several research firms have recently issued reports on HL. Canaccord Genuity reiterated a “hold” rating and set a $5.00 price target on shares of Hecla Mining in a research note on Thursday, September 7th. ValuEngine upgraded Hecla Mining from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. HC Wainwright reiterated a “buy” rating and set a $8.50 price target on shares of Hecla Mining in a research note on Tuesday, August 29th. Zacks Investment Research upgraded Hecla Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $6.00 price target on shares of Hecla Mining in a research note on Wednesday, September 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Hecla Mining presently has an average rating of “Hold” and a consensus price target of $6.52.
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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