Jupiter Asset Management Ltd. Acquires New Stake in Hecla Mining Company $HL

Jupiter Asset Management Ltd. bought a new position in shares of Hecla Mining Company (NYSE:HL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,607,453 shares of the basic materials company’s stock, valued at approximately $88,417,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Hecla Mining by 13.4% during the third quarter. Vanguard Group Inc. now owns 71,349,059 shares of the basic materials company’s stock worth $863,324,000 after buying an additional 8,452,401 shares in the last quarter. Van ECK Associates Corp grew its position in Hecla Mining by 32.4% during the third quarter. Van ECK Associates Corp now owns 49,881,495 shares of the basic materials company’s stock valued at $603,566,000 after acquiring an additional 12,197,740 shares during the last quarter. State Street Corp grew its position in Hecla Mining by 14.8% during the third quarter. State Street Corp now owns 34,485,817 shares of the basic materials company’s stock valued at $417,278,000 after acquiring an additional 4,453,706 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Hecla Mining by 38.0% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,524,912 shares of the basic materials company’s stock valued at $284,651,000 after buying an additional 6,472,566 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in Hecla Mining by 14.7% during the 2nd quarter. Tidal Investments LLC now owns 20,118,397 shares of the basic materials company’s stock valued at $120,509,000 after buying an additional 2,574,855 shares during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Canaccord Genuity Group raised Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Wednesday, April 29th. Roth Mkm set a $13.00 price target on Hecla Mining in a research report on Wednesday, February 18th. Wall Street Zen lowered Hecla Mining from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research downgraded Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, February 13th. Finally, HC Wainwright reduced their price objective on Hecla Mining from $36.50 to $26.75 and set a “buy” rating for the company in a report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.25.

Hecla Mining Stock Up 3.8%

NYSE HL opened at $17.59 on Friday. The stock’s 50 day moving average is $18.40 and its 200 day moving average is $19.95. The company has a current ratio of 4.94, a quick ratio of 4.53 and a debt-to-equity ratio of 0.10. Hecla Mining Company has a 12 month low of $5.03 and a 12 month high of $34.17. The stock has a market cap of $11.80 billion, a PE ratio of 42.90 and a beta of 1.26.

Hecla Mining (NYSE:HL) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Hecla Mining had a return on equity of 16.89% and a net margin of 17.41%.The business had revenue of $411.43 million during the quarter, compared to analysts’ expectations of $407.63 million. During the same period in the prior year, the firm posted $0.04 earnings per share. The firm’s revenue for the quarter was up 57.4% on a year-over-year basis. Research analysts predict that Hecla Mining Company will post 0.93 EPS for the current fiscal year.

Hecla Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be issued a $0.0038 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. Hecla Mining’s payout ratio is currently 2.44%.

About Hecla Mining

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.