Hecla Mining (NYSE:HL) Hits New 1-Year High – Here’s What Happened

Shares of Hecla Mining (NYSE:HL) hit a new 52-week high on Monday . The stock traded as high as $7.50 and last traded at $7.50, with a volume of 119281 shares changing hands. The stock had previously closed at $7.31.

Analysts Set New Price Targets

Several research firms recently issued reports on HL. StockNews.com lowered Hecla Mining from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. HC Wainwright restated a “buy” rating and issued a $10.25 price objective on shares of Hecla Mining in a research report on Thursday, August 8th. Finally, Roth Mkm cut their target price on Hecla Mining from $6.25 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.56.

Hecla Mining Stock Up 2.0 %

The company’s fifty day simple moving average is $6.32 and its 200 day simple moving average is $5.72. The company has a quick ratio of 0.58, a current ratio of 1.29 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $4.72 billion, a PE ratio of -50.20 and a beta of 2.01.

Hecla Mining (NYSE:HL) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Hecla Mining had a negative return on equity of 0.42% and a negative net margin of 5.56%. The company had revenue of $245.66 million during the quarter, compared to analysts’ expectations of $208.80 million. During the same quarter last year, the business posted $0.03 EPS. Analysts anticipate that Hecla Mining will post 0.07 earnings per share for the current fiscal year.

Hecla Mining Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 26th were issued a dividend of $0.0138 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Monday, August 26th. This is a boost from Hecla Mining’s previous quarterly dividend of $0.00. Hecla Mining’s payout ratio is -33.33%.

Insider Activity at Hecla Mining

In other Hecla Mining news, VP Kurt Allen sold 108,612 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $6.77, for a total value of $735,303.24. Following the sale, the vice president now owns 173,700 shares in the company, valued at approximately $1,175,949. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hecla Mining

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Hecla Mining by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 59,420,114 shares of the basic materials company’s stock worth $285,811,000 after purchasing an additional 1,506,573 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Hecla Mining during the first quarter valued at approximately $727,000. SG Americas Securities LLC raised its holdings in Hecla Mining by 148.9% in the 1st quarter. SG Americas Securities LLC now owns 39,208 shares of the basic materials company’s stock worth $189,000 after acquiring an additional 23,457 shares during the last quarter. First Eagle Investment Management LLC lifted its position in Hecla Mining by 26.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,624,677 shares of the basic materials company’s stock valued at $7,880,000 after acquiring an additional 340,000 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Hecla Mining during the 2nd quarter valued at $6,280,000. 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.