Summit Capital Management Lowers stake in Hecla Mining Company (HL)

Hecla Mining Company (HL) : Summit Capital Management reduced its stake in Hecla Mining Company by 6.56% during the most recent quarter end. The investment management company now holds a total of 1,579,800 shares of Hecla Mining Company which is valued at $6.9 Million after selling 110,866 shares in Hecla Mining Company , the firm said in a disclosure report filed with the SEC on May 11, 2016.Hecla Mining Company makes up approximately 3.11% of Summit Capital Management’s portfolio.

Other Hedge Funds, Including , Caprock Group sold out all of its stake in HL during the most recent quarter. The investment firm sold 11,402 shares of HL which is valued $49,713. Commonwealth Of Pennsylvania Public School Empls Retrmt Sys added HL to its portfolio by purchasing 23,794 company shares during the most recent quarter which is valued at $103,742. Bks Advisors added HL to its portfolio by purchasing 10,000 company shares during the most recent quarter which is valued at $43,600. Hecla Mining Company makes up approx 0.02% of Bks Advisors’s portfolio.Rhumbline Advisers boosted its stake in HL in the latest quarter, The investment management firm added 63,340 additional shares and now holds a total of 607,960 shares of Hecla Mining Company which is valued at $2.6 Million. Hecla Mining Company makes up approx 0.01% of Rhumbline Advisers’s portfolio.Russell Frank Co reduced its stake in HL by selling 66,452 shares or 87.02% in the most recent quarter. The Hedge Fund company now holds 9,916 shares of HL which is valued at $42,738.

Hecla Mining Company opened for trading at $4.52 and hit $4.56 on the upside on Monday, eventually ending the session at $4.42, with a gain of 1.38% or 0.06 points. The heightened volatility saw the trading volume jump to 83,15,519 shares. Company has a market cap of $1,697 M.

On the company’s financial health, Hecla Mining Company reported $0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.01. The company had revenue of $131.00 million for the quarter, compared to analysts expectations of $135.89 million. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Investors should note that on May 5, 2016, Hecla Mining Company announced a cash dividend of $0.0025. The company’s management has announced May 23, 2016 as the ex-dividend date and fixed the record date on May 25, 2016. The payable date has been fixed on Jun 3, 2016.

Many Wall Street Analysts have commented on Hecla Mining Company. Company shares were Reiterated by FBR Capital on May 9, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 4 from a previous price target of $3 .Hecla Mining Company was Downgraded by CIBC to ” Sector Perform” on Apr 8, 2016. Deutsche Bank Downgraded Hecla Mining Company on Mar 23, 2016 to ” Hold”, Price Target of the shares are set at $2.90.

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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