Hecla Mining (NYSE:HL) Sets New 12-Month High - Here's Why

Hecla Mining (NYSE:HL - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as $7.50 and last traded at $7.50, with a volume of 119281 shares changing hands. The stock had previously closed at $7.31.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HL. 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. StockNews.com cut shares of Hecla Mining from a "hold" rating to a "sell" rating in a research note on Thursday. Finally, HC Wainwright reissued 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 assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Hecla Mining currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.56.

Hecla Mining Stock Up 1.0 %

The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of -49.20 and a beta of 2.01. The business has a 50 day moving average of $6.28 and a 200 day moving average of $5.70. 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 announced its quarterly earnings data 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 company had revenue of $245.66 million during the quarter, compared to analysts' expectations 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 quarter in the prior year, the company posted $0.03 EPS. On average, equities analysts anticipate that Hecla Mining will post 0.07 EPS for the current year.

Hecla Mining Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 26th were paid a $0.0138 dividend. This is a positive change from Hecla Mining's previous quarterly dividend of $0.00. This represents a $0.06 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Monday, August 26th. Hecla Mining's dividend payout ratio is currently -33.33%.

Insider Buying and Selling

In other news, VP Kurt Allen sold 108,612 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $6.77, for a total value of $735,303.24. Following the sale, the vice president now owns 173,700 shares in the company, valued at approximately $1,175,949. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Hecla Mining by 2.6% in 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 in the last quarter. Quantbot Technologies LP acquired a new position in Hecla Mining during the 1st quarter worth about $727,000. SG Americas Securities LLC lifted its position in Hecla Mining by 148.9% during the 1st 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 grew its holdings in Hecla Mining by 26.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,624,677 shares of the basic materials company's stock worth $7,880,000 after acquiring an additional 340,000 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Hecla Mining in the 2nd quarter valued at about $6,280,000. 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.