Renaissance Technologies LLC Takes Position in Hecla Mining Company $HL

Renaissance Technologies LLC purchased a new stake in shares of Hecla Mining Company (NYSE:HL) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 3,900,100 shares of the basic materials company’s stock, valued at approximately $72,659,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HL. Arrowstreet Capital Limited Partnership lifted its stake in shares of Hecla Mining by 86.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,715,100 shares of the basic materials company’s stock valued at $244,003,000 after acquiring an additional 5,906,313 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Hecla Mining by 40.6% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,052,346 shares of the basic materials company’s stock worth $102,144,000 after purchasing an additional 4,928,130 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in Hecla Mining in the fourth quarter valued at about $88,417,000. State Street Corp raised its position in Hecla Mining by 14.8% in the third quarter. State Street Corp now owns 34,485,817 shares of the basic materials company’s stock valued at $417,278,000 after purchasing an additional 4,453,706 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Hecla Mining by 14.7% during the second quarter. Tidal Investments LLC now owns 20,118,397 shares of the basic materials company’s stock valued at $120,509,000 after purchasing an additional 2,574,855 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

Hecla Mining Trading Down 1.3%

NYSE HL opened at $15.12 on Friday. The firm has a market capitalization of $10.14 billion, a PE ratio of 36.87 and a beta of 1.29. The business’s 50-day moving average price is $15.91 and its two-hundred day moving average price is $19.48. The company has a current ratio of 4.94, a quick ratio of 4.53 and a debt-to-equity ratio of 0.10. Hecla Mining Company has a 12 month low of $5.62 and a 12 month high of $34.17.

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 company had revenue of $411.43 million for the quarter, compared to the consensus estimate of $407.63 million. Hecla Mining had a return on equity of 16.89% and a net margin of 17.41%.Hecla Mining’s revenue was up 57.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 earnings per share. On average, analysts expect that Hecla Mining Company will post 0.47 EPS for the current year.

Hecla Mining Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd were given a dividend of $0.0038 per share. This represents a $0.01 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Friday, May 22nd. Hecla Mining’s dividend payout ratio is currently 2.44%.

Analysts Set New Price Targets

Several analysts have recently weighed in on HL shares. Zacks Research upgraded Hecla Mining to a “hold” rating in a report on Friday, July 17th. Wall Street Zen downgraded shares of Hecla Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Hecla Mining from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, June 5th. HC Wainwright reduced their target price on shares of Hecla Mining from $36.50 to $26.75 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Finally, Canaccord Genuity Group raised shares of Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $24.12.

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.