State of New Jersey Common Pension Fund D Has $2.12 Million Position in Hecla Mining (NYSE:HL)

State of New Jersey Common Pension Fund D cut its stake in Hecla Mining (NYSE:HL) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 318,391 shares of the basic materials company’s stock after selling 4,499 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.05% of Hecla Mining worth $2,124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of HL. Tidal Investments LLC bought a new position in Hecla Mining during the first quarter valued at approximately $42,576,000. Encompass Capital Advisors LLC bought a new position in shares of Hecla Mining during the 2nd quarter valued at $19,714,000. Van ECK Associates Corp lifted its stake in shares of Hecla Mining by 4.3% in the 3rd quarter. Van ECK Associates Corp now owns 54,680,051 shares of the basic materials company’s stock valued at $391,510,000 after purchasing an additional 2,238,559 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Hecla Mining by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 59,420,114 shares of the basic materials company’s stock valued at $285,811,000 after purchasing an additional 1,506,573 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Hecla Mining in the second quarter worth $6,280,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on HL shares. National Bank Financial cut Hecla Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and set a $10.25 target price on shares of Hecla Mining in a research report on Thursday, August 8th. Roth Mkm lowered their price target on Hecla Mining from $6.25 to $6.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. StockNews.com cut shares of Hecla Mining from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Finally, TD Securities lowered their target price on shares of Hecla Mining from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.94.

Hecla Mining Trading Up 3.5 %

Shares of HL stock opened at $5.61 on Friday. The firm has a market capitalization of $3.52 billion, a P/E ratio of -140.25 and a beta of 2.00. Hecla Mining has a 1 year low of $3.33 and a 1 year high of $7.68. The firm’s fifty day simple moving average is $6.52 and its 200 day simple moving average is $5.84. The company has a current ratio of 1.09, a quick ratio of 0.54 and a debt-to-equity ratio of 0.24.

Hecla Mining (NYSE:HL) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Hecla Mining had a negative net margin of 2.27% and a positive return on equity of 0.75%. The company had revenue of $245.09 million for the quarter, compared to the consensus estimate of $232.03 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. The business’s revenue was up 34.7% compared to the same quarter last year. As a group, sell-side analysts predict that Hecla Mining will post 0.06 EPS for the current year.

Hecla Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be given a $0.0138 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.98%. Hecla Mining’s dividend payout ratio is currently -125.00%.

Insider Transactions at Hecla Mining

In other news, VP Kurt Allen sold 108,612 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $6.77, for a total transaction of $735,303.24. Following the completion of the transaction, the vice president now directly owns 173,700 shares of the company’s stock, valued at approximately $1,175,949. This trade represents a 38.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by insiders.

Hecla Mining Company Profile

Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States, Canada, Japan, Korea, and China. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for custom smelters, metal traders, and third-party processors; and doré containing silver and gold.