Ic / Ib = hFE, hFE is usually referred to as the current gain. So if you have a base current of 1ma, your collector current would be 420mA. However, if you are using it as an amplifier, you usually want to operate it in a feedback loop so that you control the gain rather than relying on the transistors beta parameter.
Note that some datasheets refer to HFE (cap H) as the ratio of currents when the transistor is modeled as a two-port network.