Hecla Mining (NYSE:HL) Shares Gap Up – Here’s What Happened

Shares of Hecla Mining (NYSE:HL) gapped up prior to trading on Tuesday . The stock had previously closed at $5.88, but opened at $6.05. Hecla Mining shares last traded at $5.98, with a volume of 1,577,650 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on HL. Roth Mkm reduced their target price on Hecla Mining from $6.60 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, February 18th. TD Securities lowered shares of Hecla Mining from a “buy” rating to a “hold” rating and cut their price target for the company from $6.50 to $5.50 in a research report on Tuesday, March 11th. StockNews.com raised shares of Hecla Mining from a “sell” rating to a “hold” rating in a research note on Monday, February 17th. Finally, 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. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.75.

Hecla Mining Stock Up 0.2 %

The company has a 50-day moving average of $5.52 and a two-hundred day moving average of $5.83. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.55. The company has a market capitalization of $3.72 billion, a PE ratio of 117.72 and a beta of 1.94.

Hecla Mining (NYSE:HL) last released its earnings results on Thursday, February 13th. The basic materials company reported $0.04 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%. Sell-side analysts anticipate that Hecla Mining will post 0.21 earnings per share for the current fiscal year.

Hecla Mining Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a $0.0038 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.02 annualized dividend and a dividend yield of 0.25%. Hecla Mining’s payout ratio is 20.00%.

Insider Buying and Selling at Hecla Mining

In other Hecla Mining news, VP Kurt Allen sold 9,195 shares of Hecla Mining stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $5.18, for a total value of $47,630.10. Following the sale, the vice president now owns 104,512 shares of the company’s stock, valued at $541,372.16. The trade was a 8.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Russell Douglas Lawlar sold 16,333 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $5.18, for a total value of $84,604.94. Following the transaction, the chief financial officer now owns 297,983 shares of the company’s stock, valued at $1,543,551.94. This represents a 5.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,915 shares of company stock worth $300,000. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Hecla Mining

Institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC lifted its holdings in shares of Hecla Mining by 100.5% in the 4th quarter. Tidal Investments LLC now owns 15,885,647 shares of the basic materials company’s stock valued at $77,999,000 after acquiring an additional 7,960,826 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in Hecla Mining during the fourth quarter valued at approximately $18,441,000. Marshall Wace LLP lifted its stake in shares of Hecla Mining by 182.4% in the 4th quarter. Marshall Wace LLP now owns 5,006,115 shares of the basic materials company’s stock valued at $24,580,000 after purchasing an additional 3,233,116 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Hecla Mining in the 3rd quarter worth approximately $14,623,000. Finally, Jefferies Financial Group Inc. increased its position in shares of Hecla Mining by 1,331.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,997,790 shares of the basic materials company’s stock valued at $9,809,000 after purchasing an additional 1,858,271 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other 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.