Hecla Mining (NYSE:HL) Stock Price Down 7% Following Weak Earnings

Hecla Mining (NYSE:HL - Get Free Report)'s share price traded down 7% on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $6.04 and last traded at $5.93. 4,258,712 shares were traded during trading, a decline of 74% from the average session volume of 16,128,181 shares. The stock had previously closed at $6.37.

The basic materials company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01). The firm had revenue of $249.66 million during the quarter, compared to the consensus estimate of $229.21 million. Hecla Mining had a negative net margin of 2.27% and a positive return on equity of 0.75%.

Hecla Mining Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a dividend of $0.0038 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Monday, March 10th. Hecla Mining's payout ratio is currently -125.00%.

Wall Street Analysts Forecast Growth

HL has been the topic of several recent research reports. Roth Mkm dropped their target price on Hecla Mining from $6.60 to $6.50 and set a "buy" rating on the stock in a research report on Tuesday. HC Wainwright reissued a "buy" rating and set a $11.50 price objective on shares of Hecla Mining in a report on Friday. National Bank Financial lowered Hecla Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, November 8th. StockNews.com raised shares of Hecla Mining from a "sell" rating to a "hold" rating in a report on Monday. Finally, TD Securities cut their price objective on shares of Hecla Mining from $8.50 to $8.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $8.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in 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 purchasing an additional 4,438 shares during the last quarter. Ameliora Wealth Management Ltd. bought a new stake in shares of Hecla Mining in the 4th quarter valued at about $25,000. Principal Securities Inc. purchased a new stake in Hecla Mining during the 4th quarter valued at about $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Hecla Mining during the 3rd quarter valued at about $28,000. Finally, Blue Trust Inc. grew its position in 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 acquiring 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 Stock Up 2.1 %

The company has a current ratio of 1.09, a quick ratio of 0.54 and a debt-to-equity ratio of 0.24. The stock has a 50 day simple moving average of $5.43 and a 200 day simple moving average of $5.86. The firm has a market capitalization of $3.49 billion, a PE ratio of -138.88 and a beta of 1.91.

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.