DNB Asset Management AS Makes New Investment in Hecla Mining Company $HL

DNB Asset Management AS bought a new stake in shares of Hecla Mining Company (NYSE:HL) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 68,870 shares of the basic materials company’s stock, valued at approximately $833,000.

A number of other institutional investors have also made changes to their positions in HL. Vanguard Group Inc. increased its holdings in shares of Hecla Mining by 13.4% in the 3rd quarter. Vanguard Group Inc. now owns 71,349,059 shares of the basic materials company’s stock worth $863,324,000 after acquiring an additional 8,452,401 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Hecla Mining by 40.6% during 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. Principal Financial Group Inc. boosted its stake in shares of Hecla Mining by 7,588.1% during the 3rd quarter. Principal Financial Group Inc. now owns 3,189,473 shares of the basic materials company’s stock worth $38,593,000 after acquiring an additional 3,147,987 shares in the last quarter. Public Sector Pension Investment Board acquired a new position in shares of Hecla Mining in the 3rd quarter valued at $31,208,000. Finally, Tidal Investments LLC increased its position 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 worth $120,509,000 after acquiring an additional 2,574,855 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of Hecla Mining from $16.00 to $28.00 and gave the company a “market perform” rating in a research note on Tuesday, January 27th. Canadian Imperial Bank of Commerce upped their target price on Hecla Mining from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. HC Wainwright increased their target price on Hecla Mining from $16.50 to $36.50 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Zacks Research cut shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 13th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Hecla Mining in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.63.

Insider Activity

In related news, VP Kurt Allen sold 52,219 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $21.91, for a total transaction of $1,144,118.29. Following the completion of the transaction, the vice president directly owned 216,641 shares of the company’s stock, valued at approximately $4,746,604.31. This represents a 19.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David C. Sienko sold 207,553 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $19.42, for a total transaction of $4,030,679.26. Following the completion of the transaction, the vice president directly owned 906,370 shares in the company, valued at $17,601,705.40. The trade was a 18.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is owned by company insiders.

Hecla Mining Stock Down 11.9%

Shares of NYSE HL opened at $21.71 on Wednesday. The stock has a market cap of $14.55 billion, a P/E ratio of 44.31 and a beta of 1.22. Hecla Mining Company has a 52-week low of $4.46 and a 52-week high of $34.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.22 and a current ratio of 2.72. The firm has a 50 day moving average price of $23.47 and a 200 day moving average price of $16.78.

Hecla Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Monday, March 9th will be issued a dividend of $0.0038 per share. The ex-dividend date is Monday, March 9th. This represents a $0.02 annualized dividend and a yield of 0.1%. Hecla Mining’s dividend payout ratio is presently 2.04%.

Hecla Mining Profile

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.