Hecla Mining (NYSE:HL) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its position in shares of Hecla Mining (NYSE:HL) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 517,238 shares of the basic materials company’s stock after selling 41,500 shares during the period. California Public Employees Retirement System owned approximately 0.11% of Hecla Mining worth $1,221,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Hecla Mining by 19.8% in the third quarter. Vanguard Group Inc. now owns 42,416,876 shares of the basic materials company’s stock worth $118,343,000 after acquiring an additional 7,019,088 shares in the last quarter. Vanguard Group Inc lifted its stake in Hecla Mining by 19.8% in the third quarter. Vanguard Group Inc now owns 42,416,876 shares of the basic materials company’s stock worth $118,343,000 after purchasing an additional 7,019,088 shares during the last quarter. BlackRock Inc. lifted its stake in Hecla Mining by 16.2% in the third quarter. BlackRock Inc. now owns 32,513,553 shares of the basic materials company’s stock worth $90,712,000 after purchasing an additional 4,525,664 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Hecla Mining by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 5,556,962 shares of the basic materials company’s stock worth $15,504,000 after purchasing an additional 107,055 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in Hecla Mining by 5.2% in the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 4,050,811 shares of the basic materials company’s stock worth $9,559,000 after purchasing an additional 200,000 shares during the last quarter. Hedge funds and other institutional investors own 60.94% of the company’s stock.

HL has been the subject of several analyst reports. ValuEngine downgraded shares of Hecla Mining from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Royal Bank of Canada downgraded shares of Hecla Mining from a “sector perform” rating to an “underperform” rating and decreased their price objective for the stock from $46.00 to $2.45 in a research note on Thursday, January 17th. BMO Capital Markets set a $2.00 price objective on shares of Hecla Mining and gave the stock a “hold” rating in a research note on Monday. Canaccord Genuity raised shares of Hecla Mining from a “hold” rating to a “buy” rating and raised their price objective for the stock from $2.75 to $3.25 in a research note on Tuesday, January 8th. Finally, Zacks Investment Research raised shares of Hecla Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Hecla Mining has a consensus rating of “Hold” and an average price target of $4.03.

Shares of Hecla Mining stock traded up $0.01 on Wednesday, hitting $2.10. 4,778,700 shares of the company traded hands, compared to its average volume of 5,359,252. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.56 and a current ratio of 1.21. Hecla Mining has a 52 week low of $2.03 and a 52 week high of $4.15. The company has a market capitalization of $1.00 billion, a PE ratio of -19.09 and a beta of 0.39.

Hecla Mining (NYSE:HL) last posted its quarterly earnings results on Thursday, February 21st. The basic materials company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). Hecla Mining had a negative net margin of 4.68% and a negative return on equity of 2.13%. The company had revenue of $136.50 million for the quarter, compared to the consensus estimate of $148.84 million. During the same period in the prior year, the firm posted ($0.07) EPS. The business’s revenue was down 14.7% on a year-over-year basis. On average, analysts forecast that Hecla Mining will post 0.01 earnings per share for the current year.

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About Hecla Mining

Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal properties worldwide. The company offers lead, zinc, and bulk flotation concentrates to custom smelters and brokers; and unrefined gold and silver bullion bars to precious metals traders.

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Institutional Ownership by Quarter for Hecla Mining (NYSE:HL)

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