Connor Clark & Lunn Investment Management Ltd. Takes $1.66 Million Position in Hecla Mining Company $HL

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Hecla Mining Company (NYSE:HL) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 107,228 shares of the basic materials company’s stock, valued at approximately $1,655,000.

Several other large investors have also added to or reduced their stakes in the business. Quadrant Capital Group LLC lifted its stake in Hecla Mining by 74.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company’s stock valued at $28,000 after buying an additional 631 shares during the period. Sittner & Nelson LLC bought a new position in shares of Hecla Mining during the 4th quarter worth approximately $29,000. Rothschild Investment LLC grew its position in shares of Hecla Mining by 93.5% during the 4th quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company’s stock worth $31,000 after buying an additional 781 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Hecla Mining during the 4th quarter worth approximately $31,000. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Hecla Mining by 134.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,670 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 957 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HL shares. Scotiabank dropped their target price on shares of 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. Weiss Ratings upgraded shares of Hecla Mining from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of Hecla Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research upgraded shares of Hecla Mining to a “hold” rating in a report on Friday, July 17th. Finally, Jefferies Financial Group started coverage on shares of Hecla Mining in a research report on Thursday, August 20th. They set a “hold” rating and a $22.00 price objective on the stock. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.82.

Hecla Mining Stock Down 4.6%

NYSE HL opened at $20.45 on Friday. The company has a market cap of $13.74 billion, a price-to-earnings ratio of 41.73 and a beta of 1.32. Hecla Mining Company has a 52 week low of $8.07 and a 52 week high of $34.17. The business has a 50 day moving average price of $16.59 and a 200-day moving average price of $18.22.

Hecla Mining (NYSE:HL) last issued its earnings results on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%.The firm had revenue of $333.85 million for the quarter, compared to analyst estimates of $368.75 million. During the same period in the previous year, the company earned $0.09 earnings per share. Hecla Mining’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Hecla Mining Company will post 0.46 earnings per share for the current year.

Hecla Mining Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be paid a dividend of $0.0038 per share. This represents a $0.01 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Wednesday, August 26th. Hecla Mining’s payout ratio is 2.04%.

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.