Hecla Mining (NYSE:HL) Shares Gap Up – Time to Buy?

Hecla Mining Company (NYSE:HL) gapped up before the market opened on Monday . The stock had previously closed at $18.81, but opened at $19.63. Hecla Mining shares last traded at $18.7960, with a volume of 2,377,075 shares.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HL. Roth Capital set a $8.75 price objective on shares of Hecla Mining and gave the stock a “sell” rating in a research report on Friday, October 3rd. CIBC lifted their price target on shares of Hecla Mining from $15.00 to $16.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hecla Mining in a report on Monday. HC Wainwright increased their price objective on Hecla Mining from $12.50 to $16.50 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Wall Street Zen raised Hecla Mining from a “hold” rating to a “buy” rating in a research report on Sunday, November 2nd. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.22.

Hecla Mining Stock Up 1.3%

The firm’s 50 day simple moving average is $14.73 and its 200-day simple moving average is $10.22. The company has a market cap of $12.79 billion, a price-to-earnings ratio of 61.57 and a beta of 1.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.15 and a quick ratio of 1.51.

Hecla Mining (NYSE:HL) last posted its earnings results on Wednesday, November 5th. The basic materials company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $409.54 million during the quarter, compared to the consensus estimate of $315.60 million. Hecla Mining had a return on equity of 7.87% and a net margin of 16.35%.The business’s quarterly revenue was up 67.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 EPS. As a group, sell-side analysts anticipate that Hecla Mining Company will post 0.21 earnings per share for the current year.

Hecla Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Shareholders of record on Monday, November 24th were paid a $0.0038 dividend. The ex-dividend date was Monday, November 24th. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. Hecla Mining’s payout ratio is currently 3.23%.

Insider Buying and Selling at Hecla Mining

In other news, CFO Russell Douglas Lawlar sold 18,535 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $15.02, for a total transaction of $278,395.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Hecla Mining

A number of institutional investors and hedge funds have recently made changes to their positions in the business. USA Financial Formulas purchased a new position in shares of Hecla Mining during the third quarter worth about $25,000. UMB Bank n.a. lifted its position in Hecla Mining by 2,390.0% during the 3rd quarter. UMB Bank n.a. now owns 2,490 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 2,390 shares during the period. MAI Capital Management purchased a new position in shares of Hecla Mining in the 3rd quarter valued at approximately $39,000. Banque Cantonale Vaudoise purchased a new position in shares of Hecla Mining in the 3rd quarter valued at approximately $44,000. Finally, Federated Hermes Inc. increased its holdings in shares of Hecla Mining by 29.9% in the third quarter. Federated Hermes Inc. now owns 4,023 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 926 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

About Hecla Mining

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.