Parvin Asset Management LLC Invests $2.53 Million in Hecla Mining Company $HL

Parvin Asset Management LLC bought a new stake in Hecla Mining Company (NYSE:HL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 164,125 shares of the basic materials company’s stock, valued at approximately $2,532,000. Hecla Mining accounts for 2.0% of Parvin Asset Management LLC’s investment portfolio, making the stock its 5th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in shares of Hecla Mining by 74.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 631 shares in the last quarter. Sittner & Nelson LLC purchased a new position in shares of Hecla Mining in the 4th quarter worth about $29,000. Rothschild Investment LLC boosted its stake in Hecla Mining by 93.5% in the 4th quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 781 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in Hecla Mining in the 4th quarter worth about $31,000. Finally, CIBC Private Wealth Group LLC grew its position in Hecla Mining by 134.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,670 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 957 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on HL shares. Zacks Research raised shares of Hecla Mining to a “hold” rating in a report on Friday, July 17th. HC Wainwright decreased their price target on Hecla Mining from $36.50 to $26.75 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Scotiabank dropped their price objective on Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Weiss Ratings raised shares of Hecla Mining from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Finally, Jefferies Financial Group assumed coverage on Hecla Mining in a report on Thursday, August 20th. They set a “hold” rating and a $22.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.82.

Hecla Mining Price Performance

Shares of HL stock opened at $20.77 on Thursday. Hecla Mining Company has a 1 year low of $7.78 and a 1 year high of $34.17. The firm has a fifty day moving average price of $16.39 and a 200-day moving average price of $18.22. The company has a market cap of $13.95 billion, a price-to-earnings ratio of 42.39 and a beta of 1.32.

Hecla Mining (NYSE:HL) last announced its earnings results on Tuesday, August 4th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%.The company had revenue of $333.85 million during the quarter, compared to the consensus estimate of $368.75 million. During the same period in the prior year, the business posted $0.09 earnings per share. Hecla Mining’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts expect that Hecla Mining Company will post 0.46 EPS for the current year.

Hecla Mining Dividend Announcement

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

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.