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

Hecla Mining (NYSE:HL)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $5.87, but opened at $6.05. Hecla Mining shares last traded at $6.01, with a volume of 2,524,836 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HL shares. StockNews.com raised Hecla Mining from a “sell” rating to a “hold” rating in a report on Monday, February 17th. HC Wainwright reissued a “buy” rating and set a $11.50 price objective on shares of Hecla Mining in a report on Friday, February 14th. Roth Mkm decreased their price target on shares of Hecla Mining from $6.60 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, February 18th. National Bank Financial upgraded shares of Hecla Mining to a “hold” rating in a research report on Friday. Finally, TD Securities downgraded shares of Hecla Mining from a “buy” rating to a “hold” rating and decreased their price target for the company from $6.50 to $5.50 in a research note on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Hecla Mining presently has a consensus rating of “Moderate Buy” and an average price target of $7.75.

Hecla Mining Price Performance

The business’s 50-day moving average price is $5.58 and its 200 day moving average price is $5.84. The company has a market capitalization of $3.74 billion, a P/E ratio of 118.52 and a beta of 1.94. 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 data 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). Hecla Mining had a net margin of 3.85% and a return on equity of 3.10%. The business had revenue of $249.66 million for the quarter, compared to the consensus estimate of $229.21 million. Analysts anticipate that Hecla Mining will post 0.21 EPS for the current fiscal year.

Hecla Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a dividend of $0.0038 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.25%. The ex-dividend date was Monday, March 10th. Hecla Mining’s dividend payout ratio (DPR) is currently 20.00%.

Insider Buying and Selling

In related news, CFO Russell Douglas Lawlar sold 16,333 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $5.18, for a total transaction of $84,604.94. Following the transaction, the chief financial officer now directly owns 297,983 shares of the company’s stock, valued at approximately $1,543,551.94. This trade represents a 5.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert Krcmarov bought 6,570 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was purchased at an average cost of $5.29 per share, with a total value of $34,755.30. Following the purchase, the chief executive officer now owns 331,856 shares of the company’s stock, valued at $1,755,518.24. This represents a 2.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 57,915 shares of company stock worth $300,000. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Hecla Mining

A number of large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Hecla Mining by 771.8% during 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. purchased a new stake in Hecla Mining during the 4th quarter valued at about $25,000. Principal Securities Inc. bought a new position in Hecla Mining during the 4th quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Hecla Mining in the 3rd quarter worth approximately $28,000. Finally, Blue Trust Inc. lifted its position in Hecla Mining by 30.7% in the fourth quarter. Blue Trust Inc. now owns 8,351 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 1,961 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.