Hecla Mining (NYSE:HL) Shares Gap Down – What’s Next?

Hecla Mining Company (NYSE:HL)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $19.87, but opened at $18.96. Hecla Mining shares last traded at $19.8860, with a volume of 4,140,839 shares traded.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HL. Scotiabank dropped their price target on shares of 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. Wall Street Zen cut Hecla Mining from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings raised Hecla Mining from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Zacks Research upgraded Hecla Mining to a “hold” rating in a research report on Friday, July 17th. Finally, Jefferies Financial Group began coverage on Hecla Mining in a research note on Thursday, August 20th. They issued a “hold” rating and a $22.00 price target on the stock. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.82.

Hecla Mining Stock Performance

The firm has a market capitalization of $13.94 billion, a P/E ratio of 42.34 and a beta of 1.38. The stock has a 50-day moving average of $16.87 and a 200 day moving average of $18.13.

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

Hecla Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be paid a $0.0038 dividend. The ex-dividend date is Wednesday, August 26th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.1%. Hecla Mining’s dividend payout ratio (DPR) is 2.04%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC raised its position in Hecla Mining by 33.9% in the 4th quarter. Parallel Advisors LLC now owns 2,011 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 509 shares during the last quarter. Root Financial Partners LLC raised its position in shares of Hecla Mining by 26.9% during the first quarter. Root Financial Partners LLC now owns 2,540 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 538 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Hecla Mining by 74.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 631 shares during the period. Toronto Dominion Bank lifted its stake in shares of Hecla Mining by 5.4% during the fourth quarter. Toronto Dominion Bank now owns 12,494 shares of the basic materials company’s stock valued at $239,000 after acquiring an additional 644 shares during the period. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in Hecla Mining by 4.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 16,844 shares of the basic materials company’s stock valued at $314,000 after acquiring an additional 722 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Hecla Mining Company Profile

Hecla Mining Company, founded in 1891 and headquartered in Coeur d’Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d’Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.

The company’s principal operations are located in North America and Latin America.