Canada Pension Plan Investment Board Cuts Position in Hecla Mining (HL)
Canada Pension Plan Investment Board reduced its position in Hecla Mining (NYSE:HL) by 37.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,400 shares of the basic materials company’s stock after selling 113,900 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Hecla Mining were worth $656,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Advocates Investment Management purchased a new position in Hecla Mining in the first quarter worth $103,000. Clinton Group Inc. purchased a new position in Hecla Mining in the first quarter worth $216,000. Xact Kapitalforvaltning AB grew its holdings in Hecla Mining by 34.4% in the first quarter. Xact Kapitalforvaltning AB now owns 60,916 shares of the basic materials company’s stock worth $224,000 after purchasing an additional 15,600 shares during the last quarter. SG Americas Securities LLC grew its holdings in Hecla Mining by 193.3% in the first quarter. SG Americas Securities LLC now owns 62,832 shares of the basic materials company’s stock worth $231,000 after purchasing an additional 41,411 shares during the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in Hecla Mining in the first quarter worth $263,000. 51.95% of the stock is currently owned by institutional investors and hedge funds.
NYSE:HL opened at $2.71 on Friday. Hecla Mining has a 12 month low of $2.62 and a 12 month high of $5.46. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.35 and a quick ratio of 2.77. The firm has a market cap of $1.32 billion, a PE ratio of 27.10, a P/E/G ratio of 79.14 and a beta of 0.14.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 24th were paid a dividend of $0.0025 per share. The ex-dividend date was Thursday, August 23rd. This represents a $0.01 annualized dividend and a dividend yield of 0.37%. Hecla Mining’s payout ratio is currently 10.00%.
Several equities analysts have issued reports on HL shares. ValuEngine lowered shares of Hecla Mining from a “hold” rating to a “sell” rating in a report on Thursday, May 17th. Zacks Investment Research lowered shares of Hecla Mining from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Canaccord Genuity lowered shares of Hecla Mining from a “buy” rating to a “hold” rating and set a $3.75 price target on the stock. in a report on Friday, July 13th. BMO Capital Markets set a $4.00 price target on shares of Hecla Mining and gave the stock a “hold” rating in a report on Friday, July 13th. Finally, HC Wainwright set a $8.00 price target on shares of Hecla Mining and gave the stock a “buy” rating in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Hecla Mining has a consensus rating of “Hold” and an average price target of $4.78.
Hecla Mining Profile
Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal deposits worldwide. The company offers zinc, lead, and bulk flotation concentrates to custom smelters and brokers; and unrefined gold and silver bullion bars to precious metals traders.
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