164,125 Shares in Hecla Mining Company $HL Acquired by Parvin Asset Management LLC

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

Other hedge funds have also recently modified their holdings of the company. U S Global Investors Inc. bought a new position in Hecla Mining during the first quarter valued at $1,397,000. Geode Capital Management LLC raised its position in shares of Hecla Mining by 11.9% during the 4th quarter. Geode Capital Management LLC now owns 16,620,647 shares of the basic materials company’s stock valued at $319,000,000 after buying an additional 1,770,949 shares in the last quarter. Oxbow Advisors LLC purchased a new stake in shares of Hecla Mining during the 2nd quarter valued at about $7,456,000. BlackRock Inc. purchased a new position in Hecla Mining in the second quarter worth about $1,085,779,000. Finally, Jupiter Asset Management Ltd. purchased a new stake in Hecla Mining during the fourth quarter valued at approximately $88,417,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group started coverage on Hecla Mining in a research note on Thursday, August 20th. They issued a “hold” rating and a $22.00 price objective for the company. Scotiabank cut their price objective on shares of 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. Canaccord Genuity Group upgraded shares of Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Wednesday, April 29th. HC Wainwright dropped their price target on shares of Hecla Mining from $36.50 to $26.75 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of Hecla Mining from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $23.82.

Hecla Mining Price Performance

Hecla Mining stock opened at $20.77 on Thursday. The firm has a 50-day moving average of $16.39 and a two-hundred day moving average of $18.22. Hecla Mining Company has a 1 year low of $7.78 and a 1 year high of $34.17. The stock 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 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 firm had revenue of $333.85 million during the quarter, compared to the consensus estimate of $368.75 million. Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%.The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.09 EPS. Research analysts expect that Hecla Mining Company will post 0.46 earnings per share for the current year.

Hecla Mining Dividend Announcement

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

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.