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

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

Analyst Upgrades and Downgrades

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

Hecla Mining Stock Performance

The stock has a fifty day simple moving average of $5.42 and a 200-day simple moving average of $5.86. The stock has a market cap of $3.30 billion, a P/E ratio of 104.52 and a beta of 1.91. 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 earnings results on Thursday, February 13th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $249.66 million for the quarter, compared to the consensus estimate of $229.21 million. Hecla Mining had a return on equity of 3.10% and a net margin of 3.85%. On average, equities analysts expect 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 issued a $0.0038 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Monday, March 10th. Hecla Mining’s payout ratio is 100.02%.

Insider Activity

In related news, CEO Robert Krcmarov acquired 6,570 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was bought at an average price of $5.29 per share, for a total transaction of $34,755.30. Following the acquisition, the chief executive officer now directly owns 331,856 shares of the company’s stock, valued at approximately $1,755,518.24. The trade was a 2.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hecla Mining

Several hedge funds have recently modified their holdings of HL. GAMMA Investing LLC grew its holdings in shares of Hecla Mining by 771.8% in the 4th quarter. GAMMA Investing LLC now owns 5,013 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 4,438 shares in the last quarter. Ameliora Wealth Management Ltd. bought a new position in shares of Hecla Mining in the 4th quarter valued at about $25,000. Principal Securities Inc. bought a new position in shares of Hecla Mining in the 4th quarter valued at about $25,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Hecla Mining in the 3rd quarter valued at about $28,000. Finally, Blue Trust Inc. lifted its stake in Hecla Mining by 30.7% in the 4th quarter. Blue Trust Inc. now owns 8,351 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 1,961 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

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.