Intech Investment Management LLC Makes New $1.21 Million Investment in Hecla Mining (NYSE:HL)

Intech Investment Management LLC purchased a new stake in shares of Hecla Mining (NYSE:HL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 181,355 shares of the basic materials company’s stock, valued at approximately $1,210,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Hecla Mining by 83.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 858,091 shares of the basic materials company’s stock valued at $5,723,000 after buying an additional 391,114 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Hecla Mining in the 3rd quarter worth approximately $2,373,000. KBC Group NV raised its holdings in shares of Hecla Mining by 19.2% in the 3rd quarter. KBC Group NV now owns 18,075 shares of the basic materials company’s stock worth $121,000 after purchasing an additional 2,909 shares in the last quarter. Cable Hill Partners LLC acquired a new stake in Hecla Mining during the third quarter valued at approximately $208,000. Finally, GSA Capital Partners LLP bought a new stake in Hecla Mining during the third quarter worth approximately $787,000. Institutional investors own 63.01% of the company’s stock.

Insider Transactions at Hecla Mining

In related news, VP Kurt Allen sold 108,612 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $6.77, for a total value of $735,303.24. Following the completion of the transaction, the vice president now directly owns 173,700 shares in the company, valued at approximately $1,175,949. This represents a 38.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on HL shares. TD Securities cut their price objective on Hecla Mining from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 8th. StockNews.com downgraded shares of Hecla Mining from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Roth Mkm dropped their price target on shares of Hecla Mining from $6.25 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. National Bank Financial lowered shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $10.25 price target on shares of Hecla Mining in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.94.

Hecla Mining Stock Performance

Shares of HL opened at $5.44 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.09 and a quick ratio of 0.54. Hecla Mining has a one year low of $3.33 and a one year high of $7.68. The company’s fifty day moving average price is $6.44 and its 200 day moving average price is $5.89. The company has a market capitalization of $3.41 billion, a PE ratio of -135.75 and a beta of 2.00.

Hecla Mining (NYSE:HL) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Hecla Mining had a positive return on equity of 0.75% and a negative net margin of 2.27%. The business had revenue of $245.09 million for the quarter, compared to analyst estimates of $232.03 million. During the same period in the previous year, the company posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 34.7% on a year-over-year basis. As a group, analysts expect that Hecla Mining will post 0.06 earnings per share for the current year.

Hecla Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be given a $0.0138 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.06 annualized dividend and a dividend yield of 1.01%. Hecla Mining’s dividend payout ratio is -125.00%.

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.