Stone Ridge Asset Management Exits Position in Hecla Mining Company (HL)

Hecla Mining Company (HL) : Stone Ridge Asset Management has sold out all of its stake in Hecla Mining Company during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 13,600 shares of Hecla Mining Company which is valued at $95,064.

Other Hedge Funds, Including , Arrowstreet Capital Limited Partnership added HL to its portfolio by purchasing 206,700 company shares during the most recent quarter which is valued at $1,444,833. Hecla Mining Company makes up approx 0.01% of Arrowstreet Capital Limited Partnership’s portfolio.Rhumbline Advisers reduced its stake in HL by selling 130,785 shares or 21.51% in the most recent quarter. The Hedge Fund company now holds 477,175 shares of HL which is valued at $3,335,453. Hecla Mining Company makes up approx 0.01% of Rhumbline Advisers’s portfolio.Integral Derivatives reduced its stake in HL by selling 31,200 shares or 69.35% in the most recent quarter. The Hedge Fund company now holds 13,786 shares of HL which is valued at $89,609. Hecla Mining Company makes up approx 0.04% of Integral Derivatives’s portfolio. Falcon Point Capital added HL to its portfolio by purchasing 26,328 company shares during the most recent quarter which is valued at $162,707. Hecla Mining Company makes up approx 0.03% of Falcon Point Capital’s portfolio.

Hecla Mining Company opened for trading at $5.57 and hit $5.73 on the upside on Thursday, eventually ending the session at $5.71, with a gain of 2.33% or 0.13 points. The heightened volatility saw the trading volume jump to 1,03,71,587 shares. Company has a market cap of $2,207 M.

On the company’s financial health, Hecla Mining Company reported $0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.05. The company had revenue of $171.30 million for the quarter, compared to analysts expectations of $139.34 million. The company’s revenue was up 64.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.07 EPS.

Many Wall Street Analysts have commented on Hecla Mining Company. Rodman & Renshaw Initiated Hecla Mining Company on Sep 6, 2016 to “Buy”, Price Target of the shares are set at $9.Company shares were Reiterated by FBR Capital on Aug 9, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 6 from a previous price target of $5 .Hecla Mining Company was Upgraded by JP Morgan to ” Overweight” on Aug 9, 2016.

Hecla Mining Company is engaged in discovering acquiring developing and producing silver gold lead and zinc. The Company operates in three segments: the Greens Creek Lucky Friday and Casa Berardi units. It focuses on its San Sebastian project which is located in Mexico; North Idaho’s Silver Valley which is located in Coeur d’Alene Mining District; Greens Creek unit on Alaska’s Admiralty Island which is located near Juneau; the silver-producing district near Durango which is located in Mexico; the Abitibi region of north-western Quebec which is located in Canada and the Creede district of Southwestern Colorado. The Company produces lead zinc and bulk concentrates which it markets to custom smelters and brokers at its Lucky Friday unit and unrefined bullion bars (dore) containing gold and silver at Greens Creek and Casa Berardi. In addition the Company owns Rock Creek Project a silver and copper deposit which is located in North America.

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