California Public Employees Retirement System Buys New Holdings in Hecla Mining Company $HL

California Public Employees Retirement System purchased a new position in shares of Hecla Mining Company (NYSE:HL) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,289,745 shares of the basic materials company’s stock, valued at approximately $24,028,000. California Public Employees Retirement System owned 0.19% of Hecla Mining as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp raised its stake in Hecla Mining by 14.8% in the 3rd 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 period. Tidal Investments LLC increased its holdings in shares of Hecla Mining by 14.7% in the second quarter. Tidal Investments LLC now owns 20,118,397 shares of the basic materials company’s stock valued at $120,509,000 after purchasing an additional 2,574,855 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Hecla Mining by 40.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,052,346 shares of the basic materials company’s stock valued at $102,144,000 after purchasing an additional 4,928,130 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Hecla Mining by 11.9% in the fourth quarter. Geode Capital Management LLC now owns 16,620,647 shares of the basic materials company’s stock valued at $319,000,000 after purchasing an additional 1,770,949 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Hecla Mining by 86.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,715,100 shares of the basic materials company’s stock valued at $244,003,000 after purchasing an additional 5,906,313 shares during the period. 63.01% of the stock is owned by institutional investors and hedge funds.

Hecla Mining Stock Performance

Shares of NYSE:HL opened at $15.70 on Thursday. Hecla Mining Company has a 12-month low of $5.62 and a 12-month high of $34.17. The company’s 50 day moving average price is $16.04 and its two-hundred day moving average price is $19.54. The firm has a market cap of $10.53 billion, a PE ratio of 38.28 and a beta of 1.29. The company has a quick ratio of 4.53, a current ratio of 4.94 and a debt-to-equity ratio of 0.10.

Hecla Mining (NYSE:HL) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The business had revenue of $411.43 million during the quarter, compared to analyst estimates of $407.63 million. Hecla Mining had a net margin of 17.41% and a return on equity of 16.89%. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. Equities research analysts predict that Hecla Mining Company will post 0.47 earnings per share for the current year.

Hecla Mining Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 22nd were given a dividend of $0.0038 per share. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Friday, May 22nd. Hecla Mining’s dividend payout ratio is presently 2.44%.

Analyst Ratings Changes

Several brokerages recently commented on HL. Weiss Ratings downgraded shares of Hecla Mining from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, June 5th. Scotiabank cut their price objective on shares of Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Canaccord Genuity Group upgraded Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Wednesday, April 29th. 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. Finally, Zacks Research raised Hecla Mining to a “hold” rating in a research report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Hecla Mining currently has a consensus rating of “Hold” and a consensus target price of $24.12.

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.