Ninepoint Partners LP Invests $5.53 Million in Hecla Mining Company $HL

Ninepoint Partners LP purchased a new position in Hecla Mining Company (NYSE:HL) during the second quarter, Holdings Channel reports. The fund purchased 358,600 shares of the basic materials company’s stock, valued at approximately $5,533,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. U S Global Investors Inc. bought a new stake in shares of Hecla Mining in the 1st quarter worth approximately $1,397,000. Geode Capital Management LLC grew its holdings in Hecla Mining by 11.9% during the fourth quarter. Geode Capital Management LLC now owns 16,620,647 shares of the basic materials company’s stock valued at $319,000,000 after purchasing an additional 1,770,949 shares during the period. Oxbow Advisors LLC bought a new position in Hecla Mining during the second quarter valued at $7,456,000. Jupiter Asset Management Ltd. purchased a new stake in Hecla Mining in the fourth quarter worth $88,417,000. Finally, Sigma Planning Corp raised its stake in shares of Hecla Mining by 395.4% in the first quarter. Sigma Planning Corp now owns 107,229 shares of the basic materials company’s stock valued at $1,998,000 after buying an additional 85,583 shares during the period. Institutional investors own 63.01% of the company’s stock.

Hecla Mining Stock Up 1.6%

Shares of HL opened at $20.87 on Friday. The business’s 50-day moving average price is $16.03 and its 200-day moving average price is $18.26. Hecla Mining Company has a twelve month low of $7.51 and a twelve month high of $34.17. The stock has a market cap of $14.02 billion, a PE ratio of 42.59 and a beta of 1.32.

Hecla Mining (NYSE:HL) last posted its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $333.85 million for the quarter, compared to the consensus estimate of $368.75 million. Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%. Hecla Mining’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS. Analysts expect that Hecla Mining Company will post 0.47 earnings per share for the current fiscal year.

Hecla Mining Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be given a $0.0038 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $0.01 annualized dividend and a yield of 0.1%. Hecla Mining’s payout ratio is 2.04%.

More Hecla Mining News

Here are the key news stories impacting Hecla Mining this week:

• Positive Sentiment: Gold and silver prices rose during the week, lifting precious-metals miners. A reported Treasury Department buyback plan appears to have pressured bond-market yields and further supported demand for precious metals, helping Hecla shares surge in the prior session. Hecla Mining and Coeur Mining Spike 13% as Treasury Buyback Plan Ignites Precious Metals Rally
• Positive Sentiment: Hecla’s stock is viewed as trading at a discount to its historical valuation, potentially making it attractive to investors seeking leveraged exposure to higher silver and gold prices. Why Hecla Mining Stock Is Soaring This Week
• Positive Sentiment: Unusually strong options activity added to bullish sentiment: traders bought 40,568 call options, about 33% above the stock’s average daily call volume.
• Positive Sentiment: A GuruFocus analysis noted that HL shares had gained 14.4% and assigned the company a GF Score of 69, indicating comparatively solid fundamental and valuation characteristics. Hecla Mining Co Shares Surge 14.4%
• Neutral Sentiment: Analysts’ average rating remains “Hold,” suggesting that while the commodity-price outlook has improved, Wall Street is not broadly endorsing aggressive upside expectations. Hecla Mining Receives Average Rating of Hold
• Negative Sentiment: Hecla’s latest quarterly results slightly missed earnings expectations, while revenue also came in below consensus, highlighting execution and valuation risks if precious-metals prices retreat.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HL. Wall Street Zen cut Hecla Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. HC Wainwright lowered their price target on shares of Hecla Mining from $36.50 to $26.75 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Jefferies Financial Group began coverage on shares of Hecla Mining in a report on Thursday. They issued a “hold” rating and a $22.00 price objective for the company. Scotiabank reduced their price objective on shares of Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Finally, Canaccord Genuity Group upgraded Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Hecla Mining presently has an average rating of “Hold” and a consensus target price of $23.82.

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.