Van ECK Associates Corp Has $603.57 Million Holdings in Hecla Mining Company $HL

Key Points

• Van ECK Associates Corp boosted its stake in Hecla Mining by 32.4% in Q3 to 49,881,495 shares — about 7.44% of the company, valued at roughly $603.57 million.
• Several analysts have raised price targets, but the MarketBeat consensus remains a Hold with a consensus target price of $21.63.
• Hecla declared a quarterly dividend of $0.0038 per share (annualized $0.02, yield ~0.1%, ex-dividend March 9), while company insiders have been selling shares, leaving insider ownership around 1.4%.

Van ECK Associates Corp grew its position in Hecla Mining Company (NYSE:HL - Free Report) by 32.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,881,495 shares of the basic materials company's stock after buying an additional 12,197,740 shares during the quarter. Van ECK Associates Corp owned approximately 7.44% of Hecla Mining worth $603,566,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Transce3nd LLC purchased a new position in shares of Hecla Mining during the second quarter valued at $25,000. USA Financial Formulas purchased a new position in Hecla Mining during the third quarter valued at approximately $25,000. UMB Bank n.a. grew its position in Hecla Mining by 2,390.0% during the third quarter. UMB Bank n.a. now owns 2,490 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 2,390 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Hecla Mining by 255.6% in the second quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company's stock worth $37,000 after acquiring an additional 4,425 shares during the last quarter. Finally, MAI Capital Management purchased a new stake in shares of Hecla Mining during the third quarter worth $39,000. 63.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Hecla Mining from $16.00 to $28.00 and gave the company a "market perform" rating in a report on Tuesday, January 27th. Canadian Imperial Bank of Commerce raised their price objective on shares of Hecla Mining from $27.00 to $32.00 and gave the company a "neutral" rating in a research report on Wednesday, January 28th. HC Wainwright upped their price objective on shares of Hecla Mining from $16.50 to $36.50 and gave the stock a "buy" rating in a report on Tuesday, January 27th. Zacks Research lowered Hecla Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, February 13th. Finally, Scotiabank boosted their target price on Hecla Mining from $15.00 to $25.00 and gave the stock a "sector perform" rating in a report on Monday, January 26th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $21.63.

Hecla Mining Trading Up 3.6%

Shares of HL stock opened at $21.13 on Tuesday. The firm has a market capitalization of $14.17 billion, a P/E ratio of 43.13 and a beta of 1.22. Hecla Mining Company has a 1 year low of $4.46 and a 1 year high of $34.17. The firm's fifty day simple moving average is $23.57 and its 200 day simple moving average is $17.16. The company has a current ratio of 2.72, a quick ratio of 2.22 and a debt-to-equity ratio of 0.10.

Hecla Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders 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 annualized dividend and a dividend yield of 0.1%. Hecla Mining's payout ratio is presently 2.04%.

Insider Transactions at Hecla Mining

In other Hecla Mining news, VP David C. Sienko sold 207,553 shares of the firm's stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $19.42, for a total value of $4,030,679.26. Following the completion of the sale, the vice president owned 906,370 shares in the company, valued at approximately $17,601,705.40. This trade represents a 18.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kurt Allen sold 52,219 shares of the business's stock in a transaction that occurred on Tuesday, January 6th. The shares were 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 represents a 19.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is currently owned by corporate insiders.

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.

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