Hecla Mining (NYSE:HL) Shares Gap Down – Here’s Why

Hecla Mining Company (NYSE:HL)’s stock price gapped down before the market opened on Monday. The stock had previously closed at $18.19, but opened at $17.15. Hecla Mining shares last traded at $17.51, with a volume of 2,232,259 shares changing hands.

Analyst Ratings Changes

HL has been the topic of a number of recent analyst reports. Jefferies Financial Group began coverage on shares of Hecla Mining in a research report on Thursday, August 20th. They issued a “hold” rating and a $22.00 price objective on the stock. Scotiabank dropped their target price on Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Royal Bank Of Canada cut their target price on Hecla Mining from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 16th. Weiss Ratings upgraded Hecla Mining from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, September 8th. Finally, Zacks Research raised Hecla Mining to a “hold” rating in a research note on Friday, July 17th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.34.

Hecla Mining Price Performance

The stock’s fifty day moving average price is $18.18 and its 200 day moving average price is $17.73. The stock has a market capitalization of $11.55 billion, a P/E ratio of 35.14 and a beta of 1.38.

Hecla Mining (NYSE:HL) last posted its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%.The company had revenue of $333.85 million during the quarter, compared to analysts’ expectations of $368.75 million. During the same period in the prior year, the business earned $0.09 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts expect that Hecla Mining Company will post 0.46 earnings per share for the current year.

Hecla Mining Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th were paid a $0.0037 dividend. This represents a $0.01 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, August 26th. Hecla Mining’s dividend payout ratio is currently 2.04%.

Institutional Trading of Hecla Mining

Several institutional investors and hedge funds have recently modified their holdings of HL. Sittner & Nelson LLC bought a new position in Hecla Mining in the fourth quarter worth approximately $29,000. Rothschild Investment LLC increased its holdings in Hecla Mining by 93.5% during the 4th quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 781 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in Hecla Mining during the 4th quarter valued at $31,000. EFG International AG bought a new stake in Hecla Mining during the 2nd quarter valued at $36,000. Finally, Trust Co. of Vermont purchased a new stake in shares of Hecla Mining in the 2nd quarter worth $39,000. Institutional investors own 63.01% of the company’s stock.

Hecla Mining Company Profile

Hecla Mining Company (NYSE: HL) is a precious and base metals mining company focused primarily on the exploration, development, and production of silver, gold, lead, and zinc. The company sells concentrates and refined metals produced from its mining operations and also maintains a portfolio of exploration and development properties.

Founded in 1891, Hecla is one of the oldest U.S.-based mining companies. Its operating portfolio has included the Greens Creek silver, gold, lead, and zinc mine near Juneau, Alaska; the Lucky Friday silver, lead, and zinc mine in Idaho; the Keno Hill silver district in Yukon, Canada; and the Casa Berardi gold mine in Quebec, Canada.

Through these operations and related exploration activities, Hecla serves the North American metals market, with production and mineral assets located in the United States and Canada.