Ameritas Investment Partners Inc. increased its stake in shares of Hecla Mining Company (NYSE:HL) by 5.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 34,608 shares of the basic materials company’s stock after purchasing an additional 1,643 shares during the period. Ameritas Investment Partners Inc.’s holdings in Hecla Mining were worth $177,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. boosted its position in shares of Hecla Mining by 2.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 97,242 shares of the basic materials company’s stock worth $496,000 after purchasing an additional 2,784 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Hecla Mining by 2.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 299,458 shares of the basic materials company’s stock worth $1,528,000 after purchasing an additional 6,899 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Hecla Mining in the 2nd quarter valued at approximately $377,000. Balyasny Asset Management LLC boosted its position in Hecla Mining by 395.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 112,500 shares of the basic materials company’s stock valued at $574,000 after buying an additional 89,810 shares during the period. Finally, Zacks Investment Management boosted its position in Hecla Mining by 3.9% in the 2nd quarter. Zacks Investment Management now owns 112,246 shares of the basic materials company’s stock valued at $572,000 after buying an additional 4,165 shares during the period. 59.26% of the stock is owned by hedge funds and other institutional investors.
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Hecla Mining (NYSE:HL) last announced its earnings results on Thursday, August 3rd. The basic materials company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.05). The firm had revenue of $134.30 million during the quarter, compared to analysts’ expectations of $130.54 million. Hecla Mining had a net margin of 7.88% and a return on equity of 2.56%. Hecla Mining’s revenue for the quarter was down 21.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 earnings per share.
In other news, Director George R. Nethercutt, Jr. sold 62,500 shares of the company’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $5.24, for a total value of $327,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.
Several equities analysts have commented on the stock. TheStreet cut shares of Hecla Mining from a “b-” rating to a “c” rating in a research report on Thursday, August 3rd. ValuEngine raised shares of Hecla Mining from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Royal Bank Of Canada set a $6.00 price target on shares of Hecla Mining and gave the company a “hold” rating in a research report on Wednesday, October 18th. Canaccord Genuity reissued a “hold” rating and issued a $5.25 price target on shares of Hecla Mining in a research report on Friday, October 6th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $6.00 price target on shares of Hecla Mining in a research report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $6.52.
About Hecla Mining
Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Company and its subsidiaries provide precious and base metals to the United States and around the world. It produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver.
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