Hecla Mining (NYSE:HL) Trading 6.4% Higher – Here’s Why

Hecla Mining (NYSE:HL) shares were up 6.4% on Thursday . The stock traded as high as $5.73 and last traded at $5.73. Approximately 9,323,307 shares traded hands during trading, a decline of 45% from the average daily volume of 17,039,680 shares. The stock had previously closed at $5.38.

Analyst Ratings Changes

Several equities analysts recently weighed in on HL shares. TD Securities cut their price objective on shares of Hecla Mining from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Friday. HC Wainwright reissued a “buy” rating and issued a $11.50 price target on shares of Hecla Mining in a research report on Friday, February 14th. Roth Mkm dropped their price target on shares of Hecla Mining from $6.60 to $6.50 and set a “buy” rating on the stock in a research report on Tuesday. National Bank Financial lowered shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, StockNews.com raised shares of Hecla Mining from a “sell” rating to a “hold” rating in a research report on Monday, February 17th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.00.

Hecla Mining Stock Performance

The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 104.52 and a beta of 1.91. The firm’s 50-day moving average price is $5.42 and its two-hundred day moving average price is $5.86. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.55 and a current ratio of 1.08.

Hecla Mining (NYSE:HL) last released its quarterly earnings data on Thursday, February 13th. The basic materials company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Hecla Mining had a net margin of 3.85% and a return on equity of 3.10%. The company had revenue of $249.66 million for the quarter, compared to analyst estimates of $229.21 million. Sell-side analysts predict that Hecla Mining will post 0.21 earnings per share for the current year.

Hecla Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a $0.0038 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.02 annualized dividend and a dividend yield of 0.29%. Hecla Mining’s dividend payout ratio is currently 100.02%.

Insider Activity

In related news, CEO Robert Krcmarov acquired 6,570 shares of the stock in a transaction dated Wednesday, February 19th. The shares were bought at an average cost of $5.29 per share, for a total transaction of $34,755.30. Following the purchase, the chief executive officer now owns 331,856 shares in the company, valued at approximately $1,755,518.24. This trade represents a 2.02 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Hecla Mining

A number of large investors have recently bought and sold shares of HL. GAMMA Investing LLC grew its position in Hecla Mining by 771.8% during the 4th quarter. GAMMA Investing LLC now owns 5,013 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 4,438 shares during the last quarter. Ameliora Wealth Management Ltd. bought a new stake in Hecla Mining during the 4th quarter worth approximately $25,000. Principal Securities Inc. bought a new stake in Hecla Mining during the 4th quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Hecla Mining during the 3rd quarter worth approximately $28,000. Finally, Blue Trust Inc. grew its position in Hecla Mining by 30.7% during the 4th quarter. Blue Trust Inc. now owns 8,351 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 1,961 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

Hecla Mining Company Profile

Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States, Canada, Japan, Korea, and China. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for custom smelters, metal traders, and third-party processors; and doré containing silver and gold.