State of Michigan Retirement System Makes New $3.04 Million Investment in Hecla Mining Company $HL

Key Points

• State of Michigan Retirement System acquired a new stake of 158,400 shares in Hecla Mining (NYSE:HL) during Q4, valued at roughly $3.04 million.
• Institutions now own 63.01% of Hecla, with firms like Ninety One UK increasing holdings and several public pension funds (Maryland, Alaska, Kentucky) initiating new positions.
• Analysts maintain a consensus rating of "Hold" with a $21.31 target; notable recent moves include Canaccord upgrading to a "Buy" ($24 target) and BMO raising its target to $28.

State of Michigan Retirement System acquired a new stake in shares of Hecla Mining Company (NYSE:HL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 158,400 shares of the basic materials company's stock, valued at approximately $3,040,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ninety One UK Ltd lifted its holdings in shares of Hecla Mining by 1.7% during the 3rd quarter. Ninety One UK Ltd now owns 6,219,902 shares of the basic materials company's stock valued at $75,261,000 after buying an additional 103,009 shares during the period. Maryland State Retirement & Pension System bought a new position in shares of Hecla Mining during the 3rd quarter valued at $1,150,000. Berman McAleer LLC bought a new position in shares of Hecla Mining during the 3rd quarter valued at $593,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Hecla Mining during the 3rd quarter valued at $1,785,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Hecla Mining during the 3rd quarter valued at $4,345,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on HL shares. Canaccord Genuity Group raised Hecla Mining from a "hold" rating to a "buy" rating and set a $24.00 target price on the stock in a report on Wednesday. Wall Street Zen cut Hecla Mining from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 29th. Roth Mkm set a $13.00 target price on Hecla Mining in a report on Wednesday, February 18th. BMO Capital Markets raised their target price on Hecla Mining from $16.00 to $28.00 and gave the stock a "market perform" rating in a report on Tuesday, January 27th. Finally, Zacks Research cut Hecla Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $21.31.

Hecla Mining Trading Up 3.2%

Shares of Hecla Mining stock opened at $18.04 on Friday. The firm has a market cap of $12.09 billion, a price-to-earnings ratio of 36.81 and a beta of 1.40. Hecla Mining Company has a twelve month low of $4.51 and a twelve month high of $34.17. The company has a quick ratio of 2.22, a current ratio of 2.72 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $19.84 and a 200-day moving average price of $19.25.

Hecla Mining Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Monday, March 9th were given a $0.0038 dividend. The ex-dividend date was Monday, March 9th. This represents a $0.02 annualized dividend and a yield of 0.1%. Hecla Mining's dividend payout ratio (DPR) is currently 2.04%.

Hecla Mining Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.