Hecla Mining (NYSE:HL) Shares Gap Down on Analyst Downgrade

Shares of Hecla Mining (NYSE:HL - Get Free Report) gapped down before the market opened on Monday after TD Securities lowered their price target on the stock from $8.50 to $8.00. The stock had previously closed at $5.73, but opened at $5.44. TD Securities currently has a buy rating on the stock. Hecla Mining shares last traded at $5.41, with a volume of 2,852,035 shares changing hands.

HL has been the topic of several other research reports. StockNews.com cut shares of Hecla Mining from a "hold" rating to a "sell" rating in a report on Thursday, October 17th. Roth Mkm decreased their price target on shares of Hecla Mining from $6.25 to $6.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $10.25 price target on shares of Hecla Mining in a report on Thursday, August 8th. One investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $7.94.

Insider Buying and Selling 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 transaction of $735,303.24. Following the completion of the sale, the vice president now directly owns 173,700 shares in the company, valued at $1,175,949. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.40% of the company's stock.

Institutional Trading of Hecla Mining

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Hecla Mining by 2.6% during the first 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 during the period. Quantbot Technologies LP bought a new position in Hecla Mining in the first quarter worth about $727,000. SG Americas Securities LLC raised its stake in Hecla Mining by 148.9% in the first quarter. SG Americas Securities LLC now owns 39,208 shares of the basic materials company's stock worth $189,000 after buying an additional 23,457 shares in the last quarter. First Eagle Investment Management LLC raised its stake in Hecla Mining by 26.5% in the second quarter. First Eagle Investment Management LLC now owns 1,624,677 shares of the basic materials company's stock worth $7,880,000 after buying an additional 340,000 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Hecla Mining in the second quarter worth about $6,280,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Hecla Mining Trading Down 2.8 %

The company has a market capitalization of $3.51 billion, a P/E ratio of -139.25 and a beta of 2.00. The stock's 50 day moving average is $6.52 and its 200-day moving average is $5.84. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.29 and a quick ratio of 0.58.

Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. Hecla Mining had a negative net margin of 2.27% and a positive return on equity of 0.76%. The company had revenue of $245.09 million during the quarter, compared to the consensus estimate of $232.03 million. During the same period in the prior year, the firm earned ($0.01) earnings per share. Hecla Mining's revenue was up 34.7% on a year-over-year basis. As a group, equities research analysts anticipate that Hecla Mining will post 0.07 earnings per share for the current year.

Hecla Mining Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.0138 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, November 21st. Hecla Mining's dividend payout ratio is -125.00%.

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.