First Eagle Investment Management LLC Has $23.92 Million Holdings in Hecla Mining Company $HL

First Eagle Investment Management LLC cut its holdings in Hecla Mining Company (NYSE:HL) by 28.8% during the 4th quarter, HoldingsChannel reports. The fund owned 1,246,713 shares of the basic materials company’s stock after selling 504,075 shares during the quarter. First Eagle Investment Management LLC’s holdings in Hecla Mining were worth $23,924,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of HL. Lodestone Wealth Management LLC acquired a new position in shares of Hecla Mining in the fourth quarter valued at about $28,000. UMB Bank n.a. grew its stake in Hecla Mining by 2,390.0% during the third quarter. UMB Bank n.a. now owns 2,490 shares of the basic materials company’s stock worth $30,000 after buying an additional 2,390 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Hecla Mining by 255.6% during the second quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company’s stock worth $37,000 after buying an additional 4,425 shares in the last quarter. MAI Capital Management acquired a new stake in Hecla Mining during the third quarter worth about $39,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Hecla Mining during the third quarter worth about $44,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Hecla Mining Stock Up 11.3%

Shares of NYSE HL opened at $20.71 on Tuesday. The company has a 50 day simple moving average of $19.30 and a 200 day simple moving average of $19.48. The firm has a market cap of $13.89 billion, a PE ratio of 50.52 and a beta of 1.26. Hecla Mining Company has a 1 year low of $4.68 and a 1 year high of $34.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.94 and a quick ratio of 4.53.

Hecla Mining (NYSE:HL) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The business had revenue of $411.43 million during 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 firm’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 EPS. On average, research analysts forecast that Hecla Mining Company will post 0.93 EPS for the current year.

Hecla Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be issued a $0.0038 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Friday, May 22nd. Hecla Mining’s dividend payout ratio (DPR) is 2.44%.

Analysts Set New Price Targets

A number of brokerages have issued reports on HL. HC Wainwright reduced their price objective on shares of Hecla Mining from $36.50 to $26.75 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Wall Street Zen downgraded shares of Hecla Mining from a “buy” rating to a “hold” rating in a research note on Saturday. Scotiabank increased their price objective on shares of Hecla Mining from $15.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. BMO Capital Markets increased their price objective on shares of Hecla Mining from $16.00 to $28.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 27th. Finally, Canadian Imperial Bank of Commerce increased their price objective on shares of Hecla Mining from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.25.

Hecla Mining Company 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.