Hecla Mining (NYSE:HL) Shares Gap Up to $5.92

Hecla Mining (NYSE:HL) shares gapped up prior to trading on Thursday . The stock had previously closed at $5.92, but opened at $6.10. Hecla Mining shares last traded at $6.19, with a volume of 1,994,340 shares.

Analysts Set New Price Targets

Several brokerages have recently commented on HL. HC Wainwright reaffirmed a “buy” rating and set a $10.25 price target on shares of Hecla Mining in a research report on Thursday, August 8th. Cibc World Mkts upgraded Hecla Mining to a “hold” rating in a research report on Wednesday, May 22nd. Roth Mkm dropped their price target on Hecla Mining from $6.25 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, CIBC lifted their price objective on shares of Hecla Mining from $6.75 to $7.50 and gave the stock a “neutral” rating in a report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.13.

Hecla Mining Price Performance

The business has a 50 day simple moving average of $5.70 and a 200-day simple moving average of $5.26. The company has a market capitalization of $4.30 billion, a P/E ratio of -45.50 and a beta of 2.00. The company has a quick ratio of 0.58, a current ratio of 1.29 and a debt-to-equity ratio of 0.29.

Hecla Mining (NYSE:HL) last posted its earnings results on Tuesday, August 6th. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $245.66 million during the quarter, compared to analyst estimates of $208.80 million. Hecla Mining had a negative net margin of 5.56% and a negative return on equity of 0.42%. During the same period in the previous year, the business posted $0.03 EPS. Analysts predict that Hecla Mining will post 0.04 EPS for the current fiscal year.

Hecla Mining Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Monday, August 26th were paid a dividend of $0.0138 per share. The ex-dividend date was Monday, August 26th. This represents a $0.06 annualized dividend and a yield of 0.81%. This is an increase from Hecla Mining’s previous quarterly dividend of $0.00. Hecla Mining’s payout ratio is presently -33.33%.

Insiders Place Their Bets

In related news, CFO Russell Douglas Lawlar sold 11,679 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $4.91, for a total value of $57,343.89. Following the completion of the transaction, the chief financial officer now owns 393,894 shares in the company, valued at approximately $1,934,019.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Michael L. Clary sold 30,634 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $4.91, for a total value of $150,412.94. Following the completion of the sale, the chief accounting officer now owns 351,972 shares in the company, valued at $1,728,182.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Russell Douglas Lawlar sold 11,679 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $4.91, for a total value of $57,343.89. Following the transaction, the chief financial officer now directly owns 393,894 shares of the company’s stock, valued at approximately $1,934,019.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,105 shares of company stock worth $329,486. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hecla Mining

A number of institutional investors and hedge funds have recently bought and sold shares of HL. Continuum Advisory LLC boosted its stake 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 acquiring an additional 4,967 shares in the last quarter. Innealta Capital LLC purchased a new position in Hecla Mining in the 2nd quarter worth about $41,000. Ballentine Partners LLC purchased a new position in Hecla Mining in the 2nd quarter worth about $54,000. Oak Family Advisors LLC acquired a new stake in Hecla Mining during the 2nd quarter worth about $55,000. Finally, Empowered Funds LLC lifted its stake in Hecla Mining by 27.7% during the first quarter. Empowered Funds LLC now owns 13,447 shares of the basic materials company’s stock valued at $65,000 after buying an additional 2,916 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

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.