Hecla Mining Company (HL) Short Interest Up 64.5% in June

Hecla Mining Company (NYSE:HL) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 21,222,198 shares, an increase of 64.5% from the June 15th total of 12,899,991 shares. Based on an average daily trading volume, of 7,217,883 shares, the short-interest ratio is currently 2.9 days. Currently, 5.4% of the shares of the company are short sold.

A number of hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY increased its stake in Hecla Mining Company by 0.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 263,649 shares of the basic materials company’s stock worth $1,382,000 after buying an additional 1,223 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Hecla Mining Company by 27.8% in the first quarter. Ameriprise Financial Inc. now owns 20,159 shares of the basic materials company’s stock worth $106,000 after buying an additional 4,384 shares during the last quarter. Eqis Capital Management Inc. increased its stake in Hecla Mining Company by 20.1% in the second quarter. Eqis Capital Management Inc. now owns 32,780 shares of the basic materials company’s stock worth $167,000 after buying an additional 5,492 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Hecla Mining Company by 21.1% in the first quarter. PNC Financial Services Group Inc. now owns 64,044 shares of the basic materials company’s stock worth $339,000 after buying an additional 11,169 shares during the last quarter. Finally, American International Group Inc. increased its stake in Hecla Mining Company by 5.4% in the first quarter. American International Group Inc. now owns 231,297 shares of the basic materials company’s stock worth $1,224,000 after buying an additional 11,765 shares during the last quarter. Institutional investors own 57.07% of the company’s stock.

Shares of Hecla Mining Company (NYSE:HL) opened at 5.19 on Monday. Hecla Mining Company has a one year low of $4.61 and a one year high of $7.64. The company has a market capitalization of $2.06 billion, a PE ratio of 21.01 and a beta of 0.43. The stock has a 50 day moving average price of $5.62 and a 200 day moving average price of $5.64.

Hecla Mining Company (NYSE:HL) last released its quarterly earnings data on Monday, May 8th. The basic materials company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.01. The company had revenue of $142.50 million during the quarter, compared to the consensus estimate of $160.24 million. Hecla Mining Company had a net margin of 14.75% and a return on equity of 5.45%. Hecla Mining Company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 EPS. On average, equities research analysts predict that Hecla Mining Company will post $0.14 earnings per share for the current year.

HL has been the topic of several analyst reports. TheStreet upgraded Hecla Mining Company from a “c+” rating to a “b” rating in a research report on Monday, June 12th. Zacks Investment Research downgraded Hecla Mining Company from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “hold” rating and set a $6.00 target price on shares of Hecla Mining Company in a research report on Tuesday, May 30th. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of Hecla Mining Company in a research report on Sunday, June 25th. Finally, BidaskClub downgraded Hecla Mining Company from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $6.81.

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Hecla Mining Company Company Profile

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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