CI Investments Inc. Makes New $10.04 Million Investment in Hecla Mining Company $HL

CI Investments Inc. purchased a new stake in Hecla Mining Company (NYSE:HL) in the 1st quarter, Holdings Channel reports. The firm purchased 538,886 shares of the basic materials company’s stock, valued at approximately $10,039,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HL. Lodestone Wealth Management LLC bought a new stake in shares of Hecla Mining in the fourth quarter worth about $28,000. Quadrant Capital Group LLC grew its stake in shares of Hecla Mining by 74.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 631 shares in the last quarter. Sittner & Nelson LLC acquired a new position in shares of Hecla Mining during the 4th quarter worth about $29,000. Rothschild Investment LLC boosted its position in Hecla Mining by 93.5% during the fourth quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 781 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Hecla Mining in the fourth quarter valued at $31,000. 63.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Weiss Ratings cut Hecla Mining from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, June 5th. Zacks Research raised Hecla Mining to a “hold” rating in a research report on Friday, July 17th. Canaccord Genuity Group raised Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Wednesday, April 29th. Scotiabank decreased their price objective on Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Finally, HC Wainwright cut their target price 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. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Hecla Mining presently has an average rating of “Hold” and a consensus price target of $24.12.

Hecla Mining Trading Up 2.6%

Shares of HL opened at $15.70 on Thursday. Hecla Mining Company has a 52-week low of $5.62 and a 52-week high of $34.17. The business’s fifty day moving average is $16.04 and its 200-day moving average is $19.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.53 and a current ratio of 4.94. The firm has a market cap of $10.53 billion, a price-to-earnings ratio of 38.28 and a beta of 1.29.

Hecla Mining (NYSE:HL) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). The business had revenue of $411.43 million for the quarter, compared to the consensus estimate of $407.63 million. Hecla Mining had a return on equity of 16.89% and a net margin of 17.41%.Hecla Mining’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.04 earnings per share. Equities analysts anticipate that Hecla Mining Company will post 0.47 EPS for the current fiscal year.

Hecla Mining Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were issued a $0.0038 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.1%. Hecla Mining’s dividend payout ratio is 2.44%.

Hecla Mining 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.