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

Shares of Hecla Mining (NYSE:HL) 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 changing hands.

Wall Street Analyst Weigh In

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

Hecla Mining Stock 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 debt-to-equity ratio of 0.24, a current ratio of 1.09 and a quick ratio of 0.54. The stock’s 50-day moving average is $6.52 and its 200-day moving average is $5.87.

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

Hecla Mining Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Thursday, November 21st will be given a $0.0138 dividend. 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 Hecla Mining stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $6.77, for a total value of $735,303.24. Following the transaction, the vice president now owns 173,700 shares in the company, valued at approximately $1,175,949. This trade represents a 38.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Hecla Mining

Large investors have recently modified their holdings of the company. Hollencrest Capital Management increased its position in Hecla Mining by 1.0% during the 3rd quarter. Hollencrest Capital Management now owns 248,727 shares of the basic materials company’s stock worth $1,659,000 after purchasing an additional 2,367 shares in the last quarter. KBC Group NV grew its stake in Hecla Mining by 19.2% during the third quarter. KBC Group NV now owns 18,075 shares of the basic materials company’s stock worth $121,000 after buying an additional 2,909 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Hecla Mining by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 338,040 shares of the basic materials company’s stock worth $1,639,000 after acquiring an additional 2,939 shares in the last quarter. MML Investors Services LLC raised its stake in shares of Hecla Mining by 28.6% in the 3rd quarter. MML Investors Services LLC now owns 13,229 shares of the basic materials company’s stock valued at $88,000 after acquiring an additional 2,944 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Hecla Mining by 21.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,714 shares of the basic materials company’s stock valued at $111,000 after acquiring an additional 2,982 shares during the period. 63.01% of the stock is currently 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.