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

Shares of Hecla Mining (NYSE:HL) gapped up before the market opened 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.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HL shares. StockNews.com upgraded shares of Hecla Mining from a “sell” rating to a “hold” rating in a report on Monday, February 17th. HC Wainwright reaffirmed a “buy” rating and set a $11.50 target price on shares of Hecla Mining in a research report on Friday, February 14th. Roth Mkm dropped their price objective on Hecla Mining from $6.60 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Finally, TD Securities lowered shares of Hecla Mining from a “buy” rating to a “hold” rating and cut their target price for the stock from $6.50 to $5.50 in a research report on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.75.

Hecla Mining Price Performance

The company has a market cap of $3.69 billion, a PE ratio of 116.72 and a beta of 1.94. The firm’s 50-day moving average is $5.54 and its 200-day moving average is $5.83. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 0.25.

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

Hecla Mining Cuts Dividend

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

Insiders Place Their Bets

In related 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 sale, the chief financial officer now owns 297,983 shares in the company, valued at approximately $1,543,551.94. The trade was a 5.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Michael L. Clary sold 32,387 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $5.18, for a total value of $167,764.66. Following the sale, the chief accounting officer now owns 246,440 shares in the company, valued at $1,276,559.20. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,915 shares of company stock worth $300,000. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Hecla Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Hecla Mining by 771.8% in the fourth quarter. GAMMA Investing LLC now owns 5,013 shares of the basic materials company’s stock valued at $25,000 after buying an additional 4,438 shares during the last quarter. Ameliora Wealth Management Ltd. acquired a new position in shares of Hecla Mining in the 4th quarter valued at about $25,000. Principal Securities Inc. acquired a new position in Hecla Mining in the fourth quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Hecla Mining during the third quarter valued at $28,000. Finally, Blue Trust Inc. boosted its stake in shares of Hecla Mining by 30.7% during the 4th quarter. Blue Trust Inc. now owns 8,351 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 1,961 shares in the last quarter. 63.01% of the stock is currently owned by 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.