Jupiter Asset Management Ltd. Takes $88.42 Million Position in Hecla Mining Company $HL

Key Points

• Jupiter Asset Management disclosed a new stake in Hecla Mining, buying 4.61 million shares worth about $88.4 million in the fourth quarter and ending with 0.69% ownership.
• Institutional interest in Hecla Mining remains strong, with several large investors such as Vanguard, Van ECK, and State Street increasing their holdings; institutions now own 63.01% of the stock.
• Analyst sentiment is mixed but cautious: the stock currently has a Hold consensus rating with a $22.25 average price target, while Hecla recently reported quarterly EPS of $0.24, missing estimates despite strong revenue growth.

Jupiter Asset Management Ltd. acquired a new stake in Hecla Mining Company (NYSE:HL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,607,453 shares of the basic materials company's stock, valued at approximately $88,417,000. Jupiter Asset Management Ltd. owned 0.69% of Hecla Mining at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of HL. Van ECK Associates Corp raised 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 valued at $603,566,000 after purchasing an additional 12,197,740 shares during the period. Vanguard Group Inc. raised 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 valued at $863,324,000 after purchasing an additional 8,452,401 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 valued at $284,651,000 after purchasing an additional 6,472,566 shares during the period. Arrowstreet Capital Limited Partnership raised 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 valued at $82,386,000 after purchasing an additional 5,804,298 shares during the period. Finally, State Street Corp raised 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 valued at $417,278,000 after purchasing an additional 4,453,706 shares during the period. 63.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Hecla Mining Stock Performance

HL opened at $17.59 on Friday. Hecla Mining Company has a 1-year low of $5.03 and a 1-year high of $34.17. The company has a current ratio of 4.94, a quick ratio of 4.53 and a debt-to-equity ratio of 0.10. The company has a market cap of $11.80 billion, a price-to-earnings ratio of 42.90 and a beta of 1.26. The company's fifty day moving average price is $18.40 and its two-hundred day moving average price is $19.95.

Hecla Mining (NYSE:HL - Get Free Report) last posted its earnings results on Tuesday, May 5th. The basic materials company reported $0.24 earnings per share (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 in the previous year, the company earned $0.04 EPS. On average, analysts expect that Hecla Mining Company will post 0.93 EPS for the current fiscal year.

Hecla Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd will be issued a dividend of $0.0038 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $0.02 annualized dividend and a yield of 0.1%. Hecla Mining's dividend payout ratio is 2.44%.

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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