Geode Capital Management LLC Has $319 Million Stake in Hecla Mining Company $HL

Key Points

• Geode Capital Management increased its Hecla Mining stake by 11.9% in the fourth quarter, ending with 16.6 million shares valued at about $319 million, or roughly 2.48% of the company.
• Hecla Mining reported Q1 EPS of $0.24, missing estimates by $0.03, while revenue of $411.43 million came in slightly above expectations and rose 57.4% year over year.
• Analyst sentiment remains mixed, with the stock carrying a Hold consensus rating and an average price target of $22.25; the company also declared a small quarterly dividend yielding about 0.1%.

Geode Capital Management LLC increased its position in Hecla Mining Company (NYSE:HL - Free Report) by 11.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,620,647 shares of the basic materials company's stock after purchasing an additional 1,770,949 shares during the period. Geode Capital Management LLC owned about 2.48% of Hecla Mining worth $319,000,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in shares of Hecla Mining by 32.4% during the 3rd quarter. Van ECK Associates Corp now owns 49,881,495 shares of the basic materials company's stock valued at $603,566,000 after buying an additional 12,197,740 shares during the period. Vanguard Group Inc. boosted its stake in shares of Hecla Mining by 13.4% during the 3rd quarter. Vanguard Group Inc. now owns 71,349,059 shares of the basic materials company's stock valued at $863,324,000 after buying an additional 8,452,401 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Hecla Mining by 577.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 6,808,787 shares of the basic materials company's stock valued at $82,386,000 after buying an additional 5,804,298 shares during the period. Finally, State Street Corp boosted its stake in shares of Hecla Mining by 14.8% during 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 buying an additional 4,453,706 shares during the period. Institutional investors and hedge funds own 63.01% of the company's stock.

Hecla Mining Stock Performance

Shares of HL opened at $17.56 on Tuesday. The company has a market capitalization of $11.78 billion, a PE ratio of 42.82 and a beta of 1.25. Hecla Mining Company has a one year low of $5.28 and a one year high of $34.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.94 and a quick ratio of 4.53. The company's fifty day moving average price is $18.38 and its 200 day moving average price is $19.99.

Hecla Mining (NYSE:HL - Get Free Report) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). The firm had revenue of $411.43 million during the quarter, compared to the consensus estimate of $407.63 million. Hecla Mining had a return on equity of 16.89% and a net margin of 17.41%.The business's revenue was up 57.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 EPS. As a group, analysts expect that Hecla Mining Company will post 0.93 earnings per share for the current year.

Hecla Mining Dividend Announcement

The company also recently announced 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. This represents a $0.02 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, May 22nd. Hecla Mining's dividend payout ratio (DPR) is 2.44%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group raised shares of Hecla Mining from a "hold" rating to a "buy" rating and set a $24.00 target price for the company in a research note on Wednesday, April 29th. Roth Mkm set a $13.00 target price on shares of Hecla Mining in a research note on Wednesday, February 18th. Wall Street Zen downgraded shares of Hecla Mining from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. HC Wainwright cut their price target on shares of Hecla Mining from $36.50 to $26.75 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Finally, Zacks Research downgraded shares of Hecla Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $22.25.

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.

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