Royal Bank Cuts Stake in Hecla Mining by 46.4%
Royal Bank of Canada recently reduced its stake in Hecla Mining Company by selling 100,957 shares during the first quarter. This move resulted in a decrease of 46.4% in Royal Bank's holdings. The institutional investor now owns 116,531 shares, valued at $2,171,000.
Other financial institutions have also made adjustments to their Hecla Mining holdings in recent quarters. Quadrant Capital Group LLC increased its stake by 74.3%, while Sittner & Nelson LLC acquired a new position. Rothschild Investment LLC and CIBC Private Wealth Group LLC also boosted their investments in the company.
Hecla Mining's revenue for the second quarter was $333.85 million, exceeding analysts' estimates of $368.75 million. The company's basic materials sector stock has a market cap of $12.68 billion and a price-to-earnings ratio of 38.51.