Hecla Mining Company $HL Position Boosted by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Hecla Mining Company (NYSE:HL) by 13.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 342,250 shares of the basic materials company’s stock after purchasing an additional 39,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.05% of Hecla Mining worth $5,829,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Hecla Mining during the 2nd quarter worth approximately $1,085,779,000. Van ECK Associates Corp lifted its stake in Hecla Mining by 15.3% in the 2nd quarter. Van ECK Associates Corp now owns 38,174,114 shares of the basic materials company’s stock valued at $589,027,000 after buying an additional 5,053,624 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Hecla Mining in the 2nd quarter valued at approximately $64,124,000. Renaissance Technologies LLC acquired a new stake in Hecla Mining during the 1st quarter valued at $72,659,000. Finally, Empowered Funds LLC acquired a new stake in Hecla Mining during the 2nd quarter valued at $22,599,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Hecla Mining Stock Performance

Shares of NYSE:HL opened at $13.53 on Monday. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 27.61 and a beta of 1.44. The stock’s 50-day moving average price is $17.71 and its two-hundred day moving average price is $18.71. Hecla Mining Company has a 12-month low of $11.81 and a 12-month high of $34.17.

Hecla Mining (NYSE:HL) last posted its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $333.85 million for the quarter, compared to analyst estimates of $368.75 million. Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 EPS. As a group, research analysts forecast that Hecla Mining Company will post 0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Zacks Research raised Hecla Mining to a “hold” rating in a research report on Friday, July 17th. Weiss Ratings downgraded Hecla Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Royal Bank Of Canada decreased their price objective on Hecla Mining from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 16th. Scotiabank dropped their price objective on 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. Finally, Jefferies Financial Group initiated coverage on shares of Hecla Mining in a research note on Thursday, August 20th. They issued a “hold” rating and a $22.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Hecla Mining has an average rating of “Hold” and a consensus target price of $23.34.

Hecla Mining Profile

Hecla Mining Company (NYSE: HL) is a precious and base metals mining company that explores for, develops, and produces silver, gold, lead, and zinc. The company also undertakes activities related to mineral processing, mine development, and exploration of additional mineral resources.

Founded in 1891, Hecla is headquartered in Coeur d’Alene, Idaho, and is one of the oldest mining companies listed on the New York Stock Exchange. Its operating portfolio has included the Greens Creek silver-gold-lead-zinc mine in Alaska, the Lucky Friday silver-lead-zinc mine in Idaho, the Casa Berardi gold mine in Quebec, and the Keno Hill silver operations in Yukon, Canada.

Through its mines and exploration projects in the United States and Canada, Hecla supplies silver and other metals to industrial, investment, and manufacturing markets.