Steadtrust LLC Sells 41,300 Shares of Hecla Mining Company $HL

Steadtrust LLC cut its position in shares of Hecla Mining Company (NYSE:HL) by 7.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 529,110 shares of the basic materials company’s stock after selling 41,300 shares during the period. Hecla Mining accounts for 4.3% of Steadtrust LLC’s investment portfolio, making the stock its 4th biggest position. Steadtrust LLC’s holdings in Hecla Mining were worth $6,402,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Ninety One UK Ltd raised its holdings in shares of Hecla Mining by 1.7% during the third quarter. Ninety One UK Ltd now owns 6,219,902 shares of the basic materials company’s stock worth $75,261,000 after purchasing an additional 103,009 shares during the period. Maryland State Retirement & Pension System acquired a new position in shares of Hecla Mining in the 3rd quarter valued at about $1,150,000. Yousif Capital Management LLC bought a new stake in shares of Hecla Mining during the 3rd quarter valued at about $2,483,000. Berman McAleer LLC bought a new stake in shares of Hecla Mining during the 3rd quarter valued at about $593,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Hecla Mining during the second quarter worth about $2,256,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Scotiabank raised their target price on shares of Hecla Mining from $15.00 to $25.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. Canadian Imperial Bank of Commerce increased their price target on Hecla Mining from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Hecla Mining in a report on Monday, December 29th. BMO Capital Markets boosted their price objective on Hecla Mining from $16.00 to $28.00 and gave the company a “market perform” rating in a research report on Tuesday, January 27th. Finally, HC Wainwright upped their price objective on Hecla Mining from $16.50 to $36.50 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.63.

Insider Activity

In other news, VP Kurt Allen sold 52,219 shares of Hecla Mining stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $21.91, for a total value of $1,144,118.29. Following the transaction, the vice president owned 216,641 shares of the company’s stock, valued at $4,746,604.31. The trade was a 19.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.62% of the stock is owned by corporate insiders.

Hecla Mining Trading Down 5.7%

Shares of HL stock opened at $18.50 on Thursday. The stock has a 50-day simple moving average of $23.59 and a 200 day simple moving average of $17.69. The stock has a market capitalization of $12.40 billion, a P/E ratio of 37.76 and a beta of 1.22. Hecla Mining Company has a fifty-two week low of $4.46 and a fifty-two week high of $34.17. The company has a quick ratio of 2.22, a current ratio of 2.72 and a debt-to-equity ratio of 0.10.

Hecla Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Monday, March 9th will be given a dividend of $0.0038 per share. The ex-dividend date is Monday, March 9th. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. Hecla Mining’s dividend payout ratio (DPR) is 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.