Sigma Planning Corp Reduces Position in Hecla Mining Company $HL

Sigma Planning Corp decreased its position in Hecla Mining Company (NYSE:HL) by 75.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 25,820 shares of the basic materials company’s stock after selling 81,409 shares during the period. Sigma Planning Corp’s holdings in Hecla Mining were worth $398,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its holdings in 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 during the last quarter. Sittner & Nelson LLC bought a new position in shares of Hecla Mining during the fourth quarter valued at about $29,000. Rothschild Investment LLC raised its stake in shares of Hecla Mining by 93.5% during the fourth quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 781 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Hecla Mining during the fourth quarter worth about $31,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Hecla Mining by 134.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,670 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 957 shares during the period. 63.01% of the stock is currently owned by institutional investors.

Hecla Mining Price Performance

Shares of HL opened at $20.75 on Thursday. Hecla Mining Company has a one year low of $8.75 and a one year high of $34.17. The company has a 50-day simple moving average of $16.87 and a two-hundred day simple moving average of $18.13. The firm has a market capitalization of $13.94 billion, a PE ratio of 42.34 and a beta of 1.38.

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

Hecla Mining Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be given a dividend of $0.0038 per share. 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%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Hecla Mining from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings upgraded Hecla Mining from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. 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 research report on Tuesday, July 14th. HC Wainwright reduced their target price 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. Finally, Zacks Research upgraded Hecla Mining to a “hold” rating in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.82.

About Hecla Mining

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.