158,400 Shares in Hecla Mining Company $HL Purchased by State of Michigan Retirement System

State of Michigan Retirement System purchased a new position in Hecla Mining Company (NYSE:HL) in the 4th quarter, HoldingsChannel reports. The firm purchased 158,400 shares of the basic materials company’s stock, valued at approximately $3,040,000.

Several other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in Hecla Mining in the fourth quarter worth about $267,000. Teachers Retirement System of The State of Kentucky lifted its stake in Hecla Mining by 35.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 200,578 shares of the basic materials company’s stock worth $3,849,000 after purchasing an additional 53,023 shares during the last quarter. Veracity Capital LLC lifted its stake in Hecla Mining by 4.0% in the fourth quarter. Veracity Capital LLC now owns 11,005 shares of the basic materials company’s stock worth $211,000 after purchasing an additional 419 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in Hecla Mining in the fourth quarter worth about $1,182,000. Finally, Rakuten Securities Inc. bought a new stake in Hecla Mining in the fourth quarter worth about $836,000. Institutional investors own 63.01% of the company’s stock.

Hecla Mining Stock Performance

Shares of Hecla Mining stock opened at $18.04 on Friday. The firm has a market capitalization of $12.09 billion, a P/E ratio of 36.81 and a beta of 1.40. 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 company has a 50 day moving average price of $19.84 and a 200 day moving average price of $19.25. Hecla Mining Company has a 52 week low of $4.51 and a 52 week high of $34.17.

Hecla Mining Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Monday, March 9th were issued a dividend of $0.0038 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.1%. Hecla Mining’s payout ratio is 2.04%.

Analyst Upgrades and Downgrades

HL has been the subject of several research analyst reports. Roth Mkm set a $13.00 price target on shares of Hecla Mining in a research note on Wednesday, February 18th. HC Wainwright lifted their price target on shares of Hecla Mining from $16.50 to $36.50 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Canaccord Genuity Group raised shares of Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Wednesday. Scotiabank lifted their price target on shares of Hecla Mining from $15.00 to $25.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Finally, Zacks Research downgraded shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Hecla Mining currently has an average rating of “Hold” and a consensus target price of $21.31.

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.