ClariVest Asset Management LLC maintained its stake in Hecla Mining Co. (NYSE:HL) during the second quarter, Holdings Channel reports. The fund owned 54,116 shares of the company’s stock at the end of the second quarter. ClariVest Asset Management LLC’s holdings in Hecla Mining were worth $276,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its stake in Hecla Mining by 41.3% in the second quarter. Alps Advisors Inc. now owns 335,771 shares of the company’s stock valued at $1,712,000 after buying an additional 98,092 shares during the last quarter. Falcon Point Capital LLC purchased a new stake in Hecla Mining during the second quarter valued at approximately $134,000. Old Mutual Global Investors UK Ltd. boosted its stake in Hecla Mining by 25.9% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 352,600 shares of the company’s stock valued at $1,798,000 after buying an additional 72,600 shares during the last quarter. James Investment Research Inc. purchased a new stake in Hecla Mining during the second quarter valued at approximately $893,000. Finally, Penn Davis Mcfarland Inc. purchased a new stake in Hecla Mining during the second quarter valued at approximately $189,000. 57.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Hecla Mining Co. (NYSE:HL) traded up 5.89% during trading on Tuesday, reaching $5.93. 8,629,336 shares of the company’s stock were exchanged. The company has a 50 day moving average of $5.63 and a 200 day moving average of $5.12. The firm’s market capitalization is $2.29 billion. Hecla Mining Co. has a 52-week low of $1.45 and a 52-week high of $7.26.
Hecla Mining (NYSE:HL) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. Hecla Mining had a negative net margin of 9.44% and a positive return on equity of 1.54%. The business had revenue of $171.30 million for the quarter, compared to analyst estimates of $141.25 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The firm’s revenue was up 64.4% compared to the same quarter last year. Equities analysts anticipate that Hecla Mining Co. will post $0.19 earnings per share for the current fiscal year.
Several research firms have commented on HL. Zacks Investment Research raised shares of Hecla Mining from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a research note on Tuesday, October 11th. Rodman & Renshaw started coverage on shares of Hecla Mining in a report on Tuesday, September 6th. They issued a “buy” rating and a $9.00 price target on the stock. BMO Capital Markets lowered shares of Hecla Mining from an “outperform” rating to a “market perform” rating and set a $7.00 price target on the stock. in a report on Tuesday, August 23rd. Deutsche Bank AG lifted their price target on shares of Hecla Mining from $4.20 to $5.50 and gave the company a “hold” rating in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. upgraded shares of Hecla Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price target on the stock in a report on Tuesday, August 9th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $5.51.
In other Hecla Mining news, CEO Phillips S. Baker, Jr. sold 392,863 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $7.05, for a total value of $2,769,684.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Lawrence P. Radford sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $7.12, for a total transaction of $712,000.00. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.
About Hecla Mining
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. The Company produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver at Greens Creek and Casa Berardi.
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