Convergence Investment Partners LLC Invests $1.05 Million in Hecla Mining Company $HL

Convergence Investment Partners LLC purchased a new position in Hecla Mining Company (NYSE:HL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 54,541 shares of the basic materials company’s stock, valued at approximately $1,047,000.

A number of other institutional investors also recently made changes to their positions in the stock. Van ECK Associates Corp grew its position in shares of Hecla Mining by 32.4% in the third quarter. Van ECK Associates Corp now owns 49,881,495 shares of the basic materials company’s stock valued at $603,566,000 after purchasing an additional 12,197,740 shares during the period. Vanguard Group Inc. grew its position in shares of Hecla Mining by 13.4% in the third quarter. Vanguard Group Inc. now owns 71,349,059 shares of the basic materials company’s stock valued at $863,324,000 after purchasing an additional 8,452,401 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Hecla Mining by 38.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,524,912 shares of the basic materials company’s stock valued at $284,651,000 after purchasing an additional 6,472,566 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Hecla Mining by 577.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 6,808,787 shares of the basic materials company’s stock valued at $82,386,000 after purchasing an additional 5,804,298 shares during the period. Finally, State Street Corp grew its position in shares of Hecla Mining by 14.8% in the third quarter. State Street Corp now owns 34,485,817 shares of the basic materials company’s stock valued at $417,278,000 after purchasing an additional 4,453,706 shares during the period. 63.01% of the stock is owned by institutional investors and hedge funds.

Hecla Mining Price Performance

HL stock opened at $17.64 on Friday. The stock has a 50-day moving average price of $19.02 and a two-hundred day moving average price of $19.63. Hecla Mining Company has a 12-month low of $4.71 and a 12-month high of $34.17. The company has a current ratio of 4.94, a quick ratio of 4.53 and a debt-to-equity ratio of 0.10. The company has a market cap of $11.83 billion, a PE ratio of 43.03 and a beta of 1.26.

Hecla Mining (NYSE:HL) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Hecla Mining had a net margin of 17.41% and a return on equity of 16.89%. The firm had revenue of $411.43 million for the quarter, compared to analysts’ expectations of $407.63 million. During the same period last year, the firm posted $0.04 EPS. Hecla Mining’s revenue was up 57.4% on a year-over-year basis. As a group, research analysts predict that Hecla Mining Company will post 0.93 EPS for the current year.

Hecla Mining Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd will be given a dividend of $0.0038 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Friday, May 22nd. Hecla Mining’s payout ratio is 2.44%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group raised Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Wednesday, April 29th. Zacks Research downgraded Hecla Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 13th. HC Wainwright lowered their price objective on Hecla Mining from $36.50 to $26.75 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Roth Mkm set a $13.00 price objective on Hecla Mining in a research report on Wednesday, February 18th. Finally, Wall Street Zen downgraded Hecla Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two investment 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.25.

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.