Filings Don’t Lie: Learn Why Van Eck Associates Corp Just Purchased Hecla Mining Co Stake?

Filings Don't Lie: Learn Why Van Eck Associates Corp Just Purchased Hecla Mining Co Stake?

The New Van Eck Associates Corp Holding in Hecla Mining Co

Van Eck Associates Corp filed with the SEC SC 13G/A form for Hecla Mining Co. The form can be accessed here: 000086917816000215. As reported in Van Eck Associates Corp’s form, the filler as of late owns 5.47% or 21,591,960 shares of the Materials–company.

Hecla Mining Co stake is a new one for the for this institutional investor and it was filed because of activity on September 16, 2016. We feel this shows Van Eck Associates Corp’s positive view for the stock. For a institutional investor managing $30.53 billion in assets and having 161+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.

Hecla Mining Co Institutional Sentiment

Latest Security and Exchange filings show 159 investors own Hecla Mining Co. The institutional ownership in Q3 2015 is high, at 49.85% of the outstanding shares. This is increased by 11697373 the total institutional shares. 197128507 were the shares owned by these institutional investors. In total 18 funds opened new Hecla Mining Co stakes, 60 increased stakes. There were 25 that closed positions and 45 reduced them.

Cwh Capital Management Inc is an institutional investor bullish on Hecla Mining Co, owning 83056 shares as of Q3 2015 for 0.11% of its portfolio. New Harbor Financial Group Llc owns 10525 shares or 0.03% of its portfolio. CA Harvest Capital Strategies Llc have 1.06% of their stock portfolio for 3000000 shares. Further, Van Eck Associates Corp reported stake worth 0.72% of its US stock portfolio. The WA Summit Capital Management Llc owns 1610750 shares. Hecla Mining Co is 1.55% of the manager’s US portfolio.

Business Profile

Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Company and its subsidiaries provide precious and base metals to the United States and around the world. The Company produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver at Greens Creek and Casa Berardi. The Company’s segments include the Greens Creek, Lucky Friday, Casa Berardi units and San Sebastian. It is focused on its San Sebastian project; North Idaho’s Silver Valley; Greens Creek unit on Alaska’s Admiralty Island; the silver-producing district near Durango; the Abitibi region of north-western Quebec, and the Creede district of Southwestern Colorado. The concentrates produced at its Greens Creek and Lucky Friday units contain payable silver, zinc and lead, and the concentrates produced at Greens Creek contain payable gold.

SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.

Van Eck Associates Corp website.

Insitutional Activity: The institutional sentiment increased to 1.47 in 2016 Q2. Its up 0.28, from 1.19 in 2016Q1. The ratio improved, as 22 funds sold all Hecla Mining Company shares owned while 42 reduced positions. 34 funds bought stakes while 60 increased positions. They now own 227.21 million shares or 16.98% more from 194.24 million shares in 2016Q1.

California Public Employees Retirement System accumulated 822,400 shares or 0.01% of the stock. Fifth Third Savings Bank last reported 0% of its portfolio in the stock. Blackrock Advisors Ltd Liability Corp accumulated 2.00 million shares or 0.01% of the stock. The New York-based Jpmorgan Chase And Co has invested 0% in Hecla Mining Company (NYSE:HL). Sprott Inc owns 2.37M shares or 0.62% of their US portfolio. Marathon Capital Mngmt accumulated 12,500 shares or 0.03% of the stock. State Street accumulated 12.69 million shares or 0.01% of the stock. Moreover, Indexiq Advisors Limited Liability Company has 0% invested in Hecla Mining Company (NYSE:HL) for 14,345 shares. Dimensional Fund Lp accumulated 0.07% or 23.45M shares. Ingalls Snyder Limited Co last reported 37,585 shares in the company. Alps Advsr, a Colorado-based fund reported 335,771 shares. Profund Limited Liability Corporation has 94,455 shares for 0.02% of their US portfolio. Global X Communication last reported 0.95% of its portfolio in the stock. Lombard Odier Asset Management (Europe) Limited owns 10,452 shares or 0% of their US portfolio. Suntrust Banks has invested 0.02% of its portfolio in Hecla Mining Company (NYSE:HL).

Insider Transactions: Since June 3, 2016, the stock had 0 buys, and 9 selling transactions for $4.01 million net activity. 15,000 shares were sold by TAYLOR ANTHONY P, worth $106,950. On Friday, July 1 the insider Nethercutt George R Jr sold $200,000. BAKER PHILLIPS S JR sold $2.77 million worth of Hecla Mining Company (NYSE:HL) on Tuesday, August 9. Sienko David C had sold 13,722 shares worth $80,274 on Friday, August 26. Another trade for 100,000 shares valued at $712,000 was sold by Radford Lawrence P.

Analysts await Hecla Mining Company (NYSE:HL) to report earnings on November, 2. They expect $0.04 earnings per share, up 180.00% or $0.09 from last year’s $-0.05 per share. HL’s profit will be $15.76 million for 32.69 P/E if the $0.04 EPS becomes a reality. After $0.07 actual earnings per share reported by Hecla Mining Company for the previous quarter, Wall Street now forecasts -42.86% negative EPS growth.

About 4.82 million shares traded hands. Hecla Mining Company (NYSE:HL) has risen 94.36% since March 4, 2016 and is uptrending. It has outperformed by 86.32% the S&P500.

Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The company has a market cap of $2.06 billion. The Firm and its subsidiaries provide precious and base metals to the United States and around the world. It currently has negative earnings. The Firm produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars containing gold and silver at Greens Creek and Casa Berardi.

Hecla Mining Company (NYSE:HL) Ratings Coverage

Out of 11 analysts covering Hecla Mining Company (NYSE:HL), 5 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 45% are positive. $9 is the highest target while $2 is the lowest. The $4.42 average target is -15.49% below today’s ($5.23) stock price. Hecla Mining Company has been the topic of 25 analyst reports since August 13, 2015 according to StockzIntelligence Inc. The company was maintained on Tuesday, May 31 by RBC Capital Markets. The stock has “Hold” rating given by Deutsche Bank on Wednesday, March 23. Rodman & Renshaw initiated the stock with “Buy” rating in Tuesday, September 6 report. The firm has “Buy” rating by Deutsche Bank given on Monday, October 5. The stock of Hecla Mining Company (NYSE:HL) earned “Mkt Perform” rating by FBR Capital on Friday, September 18. The rating was upgraded by Deutsche Bank on Thursday, August 13 to “Buy”. RBC Capital Markets maintained Hecla Mining Company (NYSE:HL) on Thursday, September 17 with “Sector Perform” rating. The rating was downgraded by IBC on Friday, April 8 to “Sector Performer”. Deutsche Bank maintained the shares of HL in a report on Thursday, September 17 with “Buy” rating. The rating was maintained by FBR Capital with “Mkt Perform” on Wednesday, July 20.

According to Zacks Investment Research, “Hecla Mining Company is a leading low-cost U.S. silver producer with operating mines in Alaska and Idaho, and is a growing gold producer with an operating mine in Quebec, Canada. The Company also has exploration and pre-development properties in five world-class silver and gold mining districts in the U.S., Canada, and Mexico, and an exploration office and investments in early-stage silver exploration projects in Canada.”

HL Company Profile

Hecla Mining Company, incorporated on August 7, 2006, is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Firm and its subsidiaries provide precious and base metals to the United States and around the world. The Firm produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver at Greens Creek and Casa Berardi. The Company’s divisions include the Greens Creek, Lucky Friday, Casa Berardi units and San Sebastian. The Firm is focused on its San Sebastian project; North Idaho’s Silver Valley; Greens Creek unit on Alaska’s Admiralty Island; the silver-producing district near Durango; the Abitibi region of north-western Quebec, and the Creede district of Southwestern Colorado. The concentrates produced at its Greens Creek and Lucky Friday units contain payable silver, zinc and lead, and the concentrates produced at Greens Creek contain payable gold.

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