Hecla Mining (NYSE:HL) Stock Price Down 3.3% – What’s Next?

Shares of Hecla Mining (NYSE:HL) dropped 3.3% on Wednesday . The company traded as low as $5.71 and last traded at $5.68. Approximately 2,546,809 shares changed hands during trading, a decline of 87% from the average daily volume of 19,192,686 shares. The stock had previously closed at $5.88.

Analysts Set New Price Targets

Several equities analysts have issued reports on HL shares. Roth Mkm cut their price objective 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. HC Wainwright reaffirmed a “buy” rating and issued a $11.50 price target on shares of Hecla Mining in a report on Friday, February 14th. TD Securities lowered shares of Hecla Mining from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $6.50 to $5.50 in a report on Tuesday, March 11th. Finally, StockNews.com raised shares of Hecla Mining from a “sell” rating to a “hold” rating in a research note on Monday, February 17th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $7.75.

Hecla Mining Stock Up 0.4 %

The firm has a 50 day moving average price of $5.55 and a 200-day moving average price of $5.83. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 117.12 and a beta of 1.94. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.55.

Hecla Mining (NYSE:HL) last issued its earnings results on Thursday, February 13th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). The business had revenue of $249.66 million during the quarter, compared to the consensus estimate of $229.21 million. Hecla Mining had a net margin of 3.85% and a return on equity of 3.10%. As a group, equities analysts predict that Hecla Mining will post 0.21 EPS for the current fiscal year.

Hecla Mining Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.0038 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Monday, March 10th. Hecla Mining’s payout ratio is 20.00%.

Insider Activity

In other news, CFO Russell Douglas Lawlar sold 16,333 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 297,983 shares of the company’s stock, valued at $1,543,551.94. The trade was a 5.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Michael L. Clary sold 32,387 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $5.18, for a total transaction of $167,764.66. Following the completion of the sale, the chief accounting officer now owns 246,440 shares of the company’s stock, valued at approximately $1,276,559.20. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,915 shares of company stock valued at $300,000 in the last 90 days. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hecla Mining

A number of hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its stake in Hecla Mining by 13.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,883 shares of the basic materials company’s stock worth $93,000 after purchasing an additional 2,169 shares in the last quarter. PKO Investment Management Joint Stock Co acquired a new position in shares of Hecla Mining in the fourth quarter valued at approximately $1,451,000. Comprehensive Money Management Services LLC bought a new stake in shares of Hecla Mining during the fourth quarter worth $227,000. Total Wealth Planning & Management Inc. bought a new stake in shares of Hecla Mining during the fourth quarter worth $144,000. Finally, Forum Financial Management LP raised its holdings in shares of Hecla Mining by 148.8% during the fourth quarter. Forum Financial Management LP now owns 24,940 shares of the basic materials company’s stock worth $122,000 after acquiring an additional 14,915 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

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.