Intech Investment Management LLC Cuts Stock Holdings in Hecla Mining Company $HL

Key Points

• Intech Investment Management cut its stake in Hecla Mining by 39.6% in Q3, selling 101,663 shares and ending the period with 155,309 shares worth $1.879 million.
• Vanguard boosted its position by 13.4% to 71,349,059 shares (about $863.3 million), and institutional investors now own 63.01% of Hecla's stock.
• Insider selling occurred recently: VP David C. Sienko sold 207,553 shares for roughly $4.03 million and VP Kurt Allen sold 52,219 shares, each reducing their holdings by about 18–19%.

Intech Investment Management LLC reduced its position in Hecla Mining Company (NYSE:HL - Free Report) by 39.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 155,309 shares of the basic materials company's stock after selling 101,663 shares during the quarter. Intech Investment Management LLC's holdings in Hecla Mining were worth $1,879,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HL. Fox Run Management L.L.C. acquired a new stake in shares of Hecla Mining in the 3rd quarter worth $142,000. MAI Capital Management purchased a new stake in shares of Hecla Mining in the third quarter valued at about $39,000. Semanteon Capital Management LP acquired a new stake in Hecla Mining during the third quarter worth about $571,000. Clear Creek Financial Management LLC raised its stake in Hecla Mining by 93.0% during the third quarter. Clear Creek Financial Management LLC now owns 60,011 shares of the basic materials company's stock worth $726,000 after purchasing an additional 28,917 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in 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 valued at $863,324,000 after purchasing an additional 8,452,401 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Hecla Mining Stock Performance

Shares of Hecla Mining stock opened at $21.76 on Thursday. The stock has a market capitalization of $14.59 billion, a price-to-earnings ratio of 44.41 and a beta of 1.22. 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 business has a 50-day moving average of $23.51 and a 200 day moving average of $16.81. Hecla Mining Company has a 12 month low of $4.46 and a 12 month high of $34.17.

Hecla Mining Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders 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 dividend on an annualized basis and a yield of 0.1%. Hecla Mining's dividend payout ratio is 2.04%.

Insider Activity at Hecla Mining

In related news, VP David C. Sienko sold 207,553 shares of the business's stock in a transaction on Wednesday, December 17th. The stock was 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 of the company's stock, valued at $17,601,705.40. The trade was a 18.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Kurt Allen sold 52,219 shares of the company's stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $21.91, for a total value of $1,144,118.29. Following the sale, the vice president owned 216,641 shares in the company, valued at approximately $4,746,604.31. This trade represents a 19.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HL. BMO Capital Markets raised their price target on shares of Hecla Mining from $16.00 to $28.00 and gave the stock a "market perform" rating in a report on Tuesday, January 27th. Weiss Ratings reissued a "hold (c+)" rating on shares of Hecla Mining in a research note on Monday, December 29th. Zacks Research downgraded Hecla Mining from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 13th. Canadian Imperial Bank of Commerce increased their price target on Hecla Mining from $27.00 to $32.00 and gave the stock a "neutral" rating in a report on Wednesday, January 28th. Finally, Canaccord Genuity Group set a $26.50 price objective on Hecla Mining in a research report on Friday, January 23rd. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $21.63.

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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