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

Hecla Mining (NYSE:HL)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $5.50, but opened at $5.75. Hecla Mining shares last traded at $5.66, with a volume of 1,831,229 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on HL shares. HC Wainwright reiterated a “buy” rating and set a $10.25 price target on shares of Hecla Mining in a report on Thursday, August 8th. TD Securities decreased their target price on shares of Hecla Mining from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Roth Mkm dropped their price target on shares of Hecla Mining from $6.25 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. StockNews.com lowered shares of Hecla Mining from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Finally, National Bank Financial cut Hecla Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Hecla Mining has a consensus rating of “Moderate Buy” and an average price target of $7.94.

Hecla Mining Price Performance

The stock has a market cap of $3.59 billion, a price-to-earnings ratio of -142.75 and a beta of 2.00. The company has a current ratio of 1.09, a quick ratio of 0.54 and a debt-to-equity ratio of 0.24. The company’s fifty day moving average is $6.52 and its two-hundred day moving average is $5.87.

Hecla Mining (NYSE:HL) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Hecla Mining had a positive return on equity of 0.75% and a negative net margin of 2.27%. The business had revenue of $245.09 million during the quarter, compared to analysts’ expectations of $232.03 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The company’s revenue was up 34.7% on a year-over-year basis. As a group, research analysts predict that Hecla Mining will post 0.06 earnings per share for the current year.

Hecla Mining Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.0138 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.06 annualized dividend and a dividend yield of 0.96%. Hecla Mining’s dividend payout ratio is presently -125.00%.

Insider Activity at Hecla Mining

In related news, VP Kurt Allen sold 108,612 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $6.77, for a total transaction of $735,303.24. Following the completion of the transaction, the vice president now directly owns 173,700 shares of the company’s stock, valued at $1,175,949. The trade was a 38.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Hecla Mining during the 3rd quarter worth approximately $28,000. Continuum Advisory LLC boosted its position in shares of Hecla Mining by 313.6% during the 2nd quarter. Continuum Advisory LLC now owns 6,551 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 4,967 shares in the last quarter. Sound Income Strategies LLC acquired a new position in Hecla Mining during the third quarter worth about $49,000. Innealta Capital LLC purchased a new position in Hecla Mining in the second quarter valued at about $41,000. Finally, GFG Capital LLC acquired a new stake in shares of Hecla Mining during the 3rd quarter valued at approximately $67,000. Hedge funds and other institutional investors 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.