Convergence Investment Partners LLC Purchases Shares of 54,541 Hecla Mining Company $HL

Convergence Investment Partners LLC purchased a new stake in shares of Hecla Mining Company (NYSE:HL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 54,541 shares of the basic materials company’s stock, valued at approximately $1,047,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Veracity Capital LLC raised its stake in Hecla Mining by 4.0% during the fourth quarter. Veracity Capital LLC now owns 11,005 shares of the basic materials company’s stock valued at $211,000 after buying an additional 419 shares in the last quarter. CWM LLC raised its stake in Hecla Mining by 1.4% during the fourth quarter. CWM LLC now owns 31,853 shares of the basic materials company’s stock valued at $611,000 after buying an additional 434 shares in the last quarter. Blue Trust Inc. raised its stake in Hecla Mining by 9.5% during the fourth quarter. Blue Trust Inc. now owns 5,786 shares of the basic materials company’s stock valued at $111,000 after buying an additional 500 shares in the last quarter. Greenleaf Trust raised its stake in Hecla Mining by 6.6% during the fourth quarter. Greenleaf Trust now owns 11,188 shares of the basic materials company’s stock valued at $215,000 after buying an additional 690 shares in the last quarter. Finally, Wealthfront Advisers LLC raised its stake in Hecla Mining by 7.8% during the third quarter. Wealthfront Advisers LLC now owns 12,720 shares of the basic materials company’s stock valued at $154,000 after buying an additional 918 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on HL shares. HC Wainwright cut their price objective on Hecla Mining from $36.50 to $26.75 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Canaccord Genuity Group upgraded Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Wednesday, April 29th. Canadian Imperial Bank of Commerce upped their price objective on Hecla Mining from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Scotiabank upped their target price on Hecla Mining from $15.00 to $25.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Finally, Wall Street Zen lowered Hecla Mining from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.25.

Hecla Mining Stock Down 9.3%

NYSE:HL opened at $17.64 on Friday. The firm has a market capitalization of $11.83 billion, a PE ratio of 43.03 and a beta of 1.26. The stock has a 50 day moving average of $19.02 and a 200-day moving average of $19.63. Hecla Mining Company has a 52 week low of $4.71 and a 52 week high of $34.17. 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 posted its earnings results on Tuesday, May 5th. The basic materials company reported $0.24 EPS for the quarter, missing the consensus estimate 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 net margin of 17.41% and a return on equity of 16.89%. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period last year, the company posted $0.04 earnings per share. Analysts predict that Hecla Mining Company will post 0.93 EPS for the current year.

Hecla Mining Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.0038 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. Hecla Mining’s dividend payout ratio is 2.44%.

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.