Sumitomo Mitsui Trust Group Inc. Makes New $764,000 Investment in Hecla Mining Company $HL

Sumitomo Mitsui Trust Group Inc. bought a new stake in Hecla Mining Company (NYSE:HL) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 41,000 shares of the basic materials company’s stock, valued at approximately $764,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its stake in Hecla Mining by 3.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 137,400 shares of the basic materials company’s stock valued at $2,560,000 after buying an additional 4,100 shares in the last quarter. Cvfg LLC purchased a new stake in shares of Hecla Mining during the first quarter valued at $4,155,000. Bogart Wealth LLC boosted its position in shares of Hecla Mining by 38.5% in the 1st quarter. Bogart Wealth LLC now owns 4,421 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 1,230 shares during the period. Praxis Investment Management Inc. purchased a new position in Hecla Mining in the 1st quarter worth about $272,000. Finally, New York State Teachers Retirement System increased its stake in Hecla Mining by 1.6% in the 1st quarter. New York State Teachers Retirement System now owns 562,106 shares of the basic materials company’s stock worth $10,472,000 after purchasing an additional 8,938 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Upgrades and Downgrades

HL has been the topic of several recent analyst reports. Scotiabank cut their price objective on Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating on the stock in a report on Tuesday. HC Wainwright dropped their target price 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. Wall Street Zen lowered shares of Hecla Mining from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Canaccord Genuity Group upgraded 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 report on Wednesday, April 29th. Finally, Weiss Ratings lowered shares of Hecla Mining from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, June 5th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Hecla Mining currently has an average rating of “Hold” and a consensus target price of $24.12.

Hecla Mining Stock Down 6.0%

HL stock opened at $14.53 on Friday. Hecla Mining Company has a 1 year low of $5.62 and a 1 year high of $34.17. The company has a fifty day simple moving average of $16.46 and a 200 day simple moving average of $19.66. The firm has a market cap of $9.75 billion, a PE ratio of 35.44 and a beta of 1.29. 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 (NYSE:HL) last released its quarterly earnings results 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). Hecla Mining had a net margin of 17.41% and a return on equity of 16.89%. The business had revenue of $411.43 million during the quarter, compared to the consensus estimate of $407.63 million. During the same period in the prior year, the firm earned $0.04 earnings per share. The business’s quarterly revenue was up 57.4% compared to the same quarter last year.

Hecla Mining Dividend Announcement

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

Hecla Mining 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.