Hecla Mining (NYSE:HL) Stock Price Up 4.5% - Here's Why

Hecla Mining (NYSE:HL - Get Free Report) rose 4.5% during mid-day trading on Monday . The company traded as high as $6.21 and last traded at $6.07. Approximately 2,550,581 shares changed hands during trading, a decline of 81% from the average daily volume of 13,129,096 shares. The stock had previously closed at $5.81.

Wall Street Analyst Weigh In

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

Hecla Mining Stock Up 0.1 %

The firm's 50-day simple moving average is $5.51 and its 200 day simple moving average is $5.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.55 and a current ratio of 1.08. The company has a market capitalization of $3.72 billion, a PE ratio of 117.48 and a beta of 1.77.

Hecla Mining (NYSE:HL - Get Free Report) last issued 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 company had revenue of $249.66 million for the quarter, compared to analyst estimates of $229.21 million. As a group, equities research analysts forecast that Hecla Mining will post 0.21 earnings per share for the current year.

Hecla Mining Cuts Dividend

The company also recently announced 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 0.25%. Hecla Mining's payout ratio is 20.00%.

Insider Activity

In related news, CAO Michael L. Clary sold 32,387 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $5.18, for a total value of $167,764.66. Following the sale, the chief accounting officer now owns 246,440 shares of the company's stock, valued at approximately $1,276,559.20. This represents a 11.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Krcmarov purchased 6,570 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were bought at an average cost of $5.29 per share, with a total value of $34,755.30. Following the transaction, the chief executive officer now directly owns 331,856 shares of the company's stock, valued at $1,755,518.24. This represents a 2.02 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 57,915 shares of company stock worth $300,000 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hecla Mining

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. boosted its position in Hecla Mining by 30.7% during the fourth quarter. Blue Trust Inc. now owns 8,351 shares of the basic materials company's stock worth $41,000 after acquiring an additional 1,961 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Hecla Mining by 13.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,883 shares of the basic materials company's stock worth $93,000 after purchasing an additional 2,169 shares during the period. Arizona State Retirement System boosted its holdings in shares of Hecla Mining by 1.3% during the fourth quarter. Arizona State Retirement System now owns 173,616 shares of the basic materials company's stock worth $852,000 after purchasing an additional 2,297 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Hecla Mining by 10.7% in the fourth quarter. Ameriprise Financial Inc. now owns 25,370 shares of the basic materials company's stock valued at $125,000 after purchasing an additional 2,457 shares during the period. Finally, MML Investors Services LLC increased its stake in Hecla Mining by 28.6% in the third quarter. MML Investors Services LLC now owns 13,229 shares of the basic materials company's stock valued at $88,000 after purchasing an additional 2,944 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

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.