Hecla Mining (NYSE:HL) Shares Gap Up - Here's What Happened

Hecla Mining (NYSE:HL - Get Free Report)'s stock price gapped up before the market opened 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.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. National Bank Financial upgraded shares of Hecla Mining to a "hold" rating in a report on Friday, March 21st. StockNews.com upgraded shares of Hecla Mining from a "sell" rating to a "hold" rating in a research note on Monday, February 17th. HC Wainwright reaffirmed a "buy" rating and set a $11.50 price objective on shares of Hecla Mining in a report on Friday, February 14th. TD Securities cut Hecla Mining from a "buy" rating to a "hold" rating and cut their target price for the stock from $6.50 to $5.50 in a research report on Tuesday, March 11th. Finally, Roth Mkm decreased their target price on Hecla Mining from $6.60 to $6.50 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Hecla Mining has a consensus rating of "Moderate Buy" and a consensus target price of $7.75.

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Hecla Mining Stock Performance

The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 0.25. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 113.32 and a beta of 1.94. The stock's 50 day moving average is $5.61 and its two-hundred day moving average is $5.84.

Hecla Mining (NYSE:HL - Get Free Report) last announced its earnings results on Thursday, February 13th. The basic materials company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). Hecla Mining had a return on equity of 3.10% and a net margin of 3.85%. The business had revenue of $249.66 million for the quarter, compared to analyst estimates of $229.21 million. Analysts anticipate that Hecla Mining will post 0.21 earnings per share for the current fiscal year.

Hecla Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.0038 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.02 dividend on an annualized basis and a yield of 0.26%. Hecla Mining's payout ratio is 20.00%.

Insider Activity

In related news, CEO Robert Krcmarov purchased 6,570 shares of the firm's stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now directly owns 331,856 shares in the company, valued at $1,755,518.24. This trade represents a 2.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Russell Douglas Lawlar sold 16,333 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $5.18, for a total transaction of $84,604.94. Following the completion of the transaction, the chief financial officer now directly owns 297,983 shares in the company, valued at $1,543,551.94. This represents a 5.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,915 shares of company stock valued at $300,000. Company insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Hecla Mining

Hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Hecla Mining during the 3rd quarter worth approximately $28,000. Ameliora Wealth Management Ltd. acquired a new position in Hecla Mining during the fourth quarter worth $25,000. GAMMA Investing LLC raised its position in Hecla Mining by 771.8% in the fourth quarter. GAMMA Investing LLC now owns 5,013 shares of the basic materials company's stock worth $25,000 after acquiring an additional 4,438 shares in the last quarter. Principal Securities Inc. acquired a new stake in Hecla Mining in the fourth quarter valued at $25,000. Finally, Blue Trust Inc. boosted its position in shares of Hecla Mining by 30.7% during the 4th quarter. Blue Trust Inc. now owns 8,351 shares of the basic materials company's stock worth $41,000 after purchasing an additional 1,961 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

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.