Belpointe Asset Management LLC Purchases New Holdings in Hecla Mining (NYSE:HL)

Belpointe Asset Management LLC purchased a new stake in Hecla Mining (NYSE:HL – Get Rating) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,387 shares of the basic materials company’s stock, valued at approximately $52,000.

Several other institutional investors have also made changes to their positions in HL. Orion Portfolio Solutions LLC acquired a new position in Hecla Mining during the fourth quarter valued at approximately $202,000. Prospera Financial Services Inc acquired a new position in Hecla Mining during the fourth quarter valued at approximately $474,000. Cambridge Investment Research Advisors Inc. raised its position in Hecla Mining by 377.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 241,667 shares of the basic materials company’s stock valued at $1,344,000 after purchasing an additional 191,021 shares in the last quarter. Van ECK Associates Corp raised its position in Hecla Mining by 8.4% during the fourth quarter. Van ECK Associates Corp now owns 55,225,222 shares of the basic materials company’s stock valued at $307,052,000 after purchasing an additional 4,294,314 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Hecla Mining by 3.1% during the fourth quarter. Swiss National Bank now owns 1,358,862 shares of the basic materials company’s stock worth $7,555,000 after buying an additional 40,500 shares in the last quarter. 59.73% of the stock is currently owned by institutional investors.

Hecla Mining Stock Performance

NYSE HL opened at $5.51 on Wednesday. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -61.22 and a beta of 2.06. Hecla Mining has a twelve month low of $3.41 and a twelve month high of $7.00. The stock has a fifty day simple moving average of $6.01 and a 200 day simple moving average of $5.69. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 0.26.

Hecla Mining Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Monday, May 22nd will be given a dividend of $0.0038 per share. The ex-dividend date of this dividend is Friday, May 19th. This represents a $0.02 dividend on an annualized basis and a yield of 0.27%. Hecla Mining’s dividend payout ratio (DPR) is currently -33.33%.

Analyst Upgrades and Downgrades

HL has been the subject of several research analyst reports. Roth Mkm downgraded shares of Hecla Mining from a “buy” rating to a “neutral” rating and upped their price target for the stock from $5.50 to $6.25 in a report on Friday, April 14th. StockNews.com initiated coverage on shares of Hecla Mining in a report on Thursday, May 18th. They set a “sell” rating for the company. Roth Capital downgraded shares of Hecla Mining from a “buy” rating to a “neutral” rating in a report on Friday, April 14th. Canaccord Genuity Group lowered their price target on shares of Hecla Mining from $7.25 to $6.25 and set a “buy” rating for the company in a report on Thursday, February 16th. Finally, HC Wainwright upped their price target on shares of Hecla Mining from $7.00 to $8.25 and gave the stock a “buy” rating in a report on Friday, April 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.13.

About Hecla Mining

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Hecla Mining Co operates as a silver and gold production company. The firm produces lead, zinc and bulk concentrates for custom smelters and brokers and develops unrefined precipitate and bullion bars for precious metals traders. It operates through the following business segments: Greens Creek, Lucky Friday, Casa Berardi, and Nevada Operations.