Old West Investment Management LLC Acquires New Stake in Hecla Mining Company $HL

Old West Investment Management LLC bought a new position in Hecla Mining Company (NYSE:HL) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 57,036 shares of the basic materials company’s stock, valued at approximately $690,000.

Several other hedge funds have also recently made changes to their positions in HL. Federated Hermes Inc. grew its stake in shares of Hecla Mining by 29.9% during the 3rd quarter. Federated Hermes Inc. now owns 4,023 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 926 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Hecla Mining by 9.9% during the third quarter. Nisa Investment Advisors LLC now owns 12,620 shares of the basic materials company’s stock valued at $153,000 after purchasing an additional 1,134 shares during the last quarter. GAMMA Investing LLC boosted its position in Hecla Mining by 28.7% during the third quarter. GAMMA Investing LLC now owns 6,426 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 1,434 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Hecla Mining by 7.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,080 shares of the basic materials company’s stock worth $276,000 after purchasing an additional 1,516 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Hecla Mining by 3.0% in the second quarter. Ameritas Investment Partners Inc. now owns 61,291 shares of the basic materials company’s stock worth $367,000 after purchasing an additional 1,779 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

Insider Transactions at Hecla Mining

In other Hecla Mining news, CFO Russell Douglas Lawlar sold 148,372 shares of Hecla Mining stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $15.00, for a total transaction of $2,225,580.00. Following the completion of the sale, the chief financial officer directly owned 347,402 shares in the company, valued at $5,211,030. The trade was a 29.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP David C. Sienko sold 207,553 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $19.42, for a total transaction of $4,030,679.26. Following the completion of the transaction, the vice president directly owned 906,370 shares of the company’s stock, valued at approximately $17,601,705.40. This represents a 18.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 426,679 shares of company stock valued at $7,678,773. 0.62% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on HL. Wall Street Zen raised shares of Hecla Mining from a “hold” rating to a “buy” rating in a report on Sunday, November 2nd. Canadian Imperial Bank of Commerce increased their target price 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 reiterated a “hold (c+)” rating on shares of Hecla Mining in a research report on Monday, December 29th. Scotiabank boosted their price objective on Hecla Mining from $15.00 to $25.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Finally, Roth Mkm reissued a “sell” rating and set a $16.00 price objective on shares of Hecla Mining in a report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Hecla Mining has an average rating of “Hold” and an average price target of $22.00.

Hecla Mining Trading Up 6.7%

Hecla Mining stock opened at $22.74 on Friday. The stock has a market cap of $15.24 billion, a P/E ratio of 73.35 and a beta of 1.25. Hecla Mining Company has a fifty-two week low of $4.46 and a fifty-two week high of $34.17. The firm’s fifty day moving average price is $21.82 and its 200-day moving average price is $14.69. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.51 and a current ratio of 2.15.

Hecla Mining (NYSE:HL) last posted its earnings results on Wednesday, November 5th. The basic materials company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. Hecla Mining had a return on equity of 7.87% and a net margin of 16.35%.The business had revenue of $409.54 million during the quarter, compared to analysts’ expectations of $315.60 million. During the same period in the previous year, the business earned $0.03 earnings per share. The firm’s revenue was up 67.1% on a year-over-year basis. Equities research analysts forecast that Hecla Mining Company will post 0.21 earnings per share for the current fiscal year.

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.