Jennison Associates LLC Boosts Stake in Hecla Mining Company $HL
by Scott Moore · The Cerbat GemJennison Associates LLC increased its position in Hecla Mining Company (NYSE:HL – Free Report) by 74.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,824 shares of the basic materials company’s stock after buying an additional 35,813 shares during the period. Jennison Associates LLC’s holdings in Hecla Mining were worth $1,609,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in HL. Van ECK Associates Corp lifted its position in shares of Hecla Mining by 32.4% in the third quarter. Van ECK Associates Corp now owns 49,881,495 shares of the basic materials company’s stock worth $603,566,000 after buying an additional 12,197,740 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Hecla Mining by 13.4% in 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Hecla Mining by 38.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,524,912 shares of the basic materials company’s stock worth $284,651,000 after buying an additional 6,472,566 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Hecla Mining by 577.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 6,808,787 shares of the basic materials company’s stock worth $82,386,000 after buying an additional 5,804,298 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Hecla Mining by 14.8% in the third quarter. State Street Corp now owns 34,485,817 shares of the basic materials company’s stock worth $417,278,000 after buying an additional 4,453,706 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms recently commented on HL. Canadian Imperial Bank of Commerce boosted 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 price target on shares of Hecla Mining from $16.50 to $36.50 and gave the company a “buy” rating in a report on Tuesday, January 27th. Wall Street Zen downgraded shares of Hecla Mining from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 29th. Roth Mkm set a $13.00 price target on shares of Hecla Mining in a report on Wednesday, February 18th. Finally, Scotiabank increased their price target on shares of Hecla Mining from $15.00 to $25.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Hecla Mining currently has a consensus rating of “Hold” and a consensus target price of $21.31.
Read Our Latest Stock Report on Hecla Mining
Hecla Mining Stock Down 0.2%
Shares of NYSE HL opened at $18.03 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.72 and a quick ratio of 2.22. The company has a market cap of $12.09 billion, a P/E ratio of 36.80 and a beta of 1.26. Hecla Mining Company has a 1 year low of $4.51 and a 1 year high of $34.17. The firm has a 50-day simple moving average of $19.84 and a two-hundred day simple moving average of $19.33.
Hecla Mining Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Monday, March 9th were given a dividend of $0.0038 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.1%. Hecla Mining’s dividend payout ratio (DPR) is 2.04%.
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.