OP Asset Management Ltd Invests $621,000 in Hecla Mining Company $HL

OP Asset Management Ltd acquired a new stake in Hecla Mining Company (NYSE:HL) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,320 shares of the basic materials company’s stock, valued at approximately $621,000.

Other institutional investors have also recently made changes to their positions in the company. Veracity Capital LLC lifted its holdings in Hecla Mining by 4.0% during the 4th quarter. Veracity Capital LLC now owns 11,005 shares of the basic materials company’s stock worth $211,000 after buying an additional 419 shares in the last quarter. CWM LLC grew its stake in shares of Hecla Mining by 1.4% in the fourth quarter. CWM LLC now owns 31,853 shares of the basic materials company’s stock worth $611,000 after acquiring an additional 434 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Hecla Mining by 9.5% in the fourth quarter. Blue Trust Inc. now owns 5,786 shares of the basic materials company’s stock worth $111,000 after acquiring an additional 500 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Hecla Mining by 33.9% during the fourth quarter. Parallel Advisors LLC now owns 2,011 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 509 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in shares of Hecla Mining by 74.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 631 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Hecla Mining Trading Up 0.3%

NYSE HL opened at $15.44 on Wednesday. The company has a quick ratio of 4.53, a current ratio of 4.94 and a debt-to-equity ratio of 0.10. Hecla Mining Company has a 52 week low of $5.47 and a 52 week high of $34.17. The stock has a market capitalization of $10.36 billion, a PE ratio of 37.66 and a beta of 1.25. The firm has a 50 day moving average of $17.09 and a two-hundred day moving average of $19.99.

Hecla Mining (NYSE:HL) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Hecla Mining had a net margin of 17.41% and a return on equity of 16.89%. The firm had revenue of $411.43 million during the quarter, compared to analysts’ expectations of $407.63 million. During the same period in the prior year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 57.4% on a year-over-year basis.

Hecla Mining Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings lowered Hecla Mining from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, June 5th. Canaccord Genuity Group upgraded Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, April 29th. Wall Street Zen lowered Hecla Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, HC Wainwright reduced their price target on Hecla Mining from $36.50 to $26.75 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.79.

About Hecla Mining

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.