Hecla Mining (NYSE:HL) Shares Down 4.5% - Here's What Happened

Hecla Mining (NYSE:HL - Get Free Report)'s share price was down 4.5% during mid-day trading on Wednesday . The stock traded as low as $7.18 and last traded at $7.19. Approximately 2,368,624 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 8,781,684 shares. The stock had previously closed at $7.53.

Wall Street Analyst Weigh In

HL has been the subject of a number of research analyst reports. StockNews.com lowered shares of Hecla Mining from a "hold" rating to a "sell" rating in a research report on Thursday, October 17th. Roth Mkm lowered their target price on Hecla Mining from $6.25 to $6.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Finally, HC Wainwright reiterated a "buy" rating and set a $10.25 price target on shares of Hecla Mining in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $7.56.

Hecla Mining Price Performance

The stock's 50 day moving average price is $6.36 and its two-hundred day moving average price is $5.73. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.29 and a quick ratio of 0.58. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of -47.77 and a beta of 2.01.

Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings results 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. Hecla Mining had a negative net margin of 5.56% and a negative return on equity of 0.42%. The company had revenue of $245.66 million during the quarter, compared to analysts' expectations of $208.80 million. During the same period in the prior year, the company earned $0.03 earnings per share. On average, equities research analysts anticipate that Hecla Mining will post 0.07 EPS for the current year.

Hecla Mining Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 26th were issued a dividend of $0.0138 per share. The ex-dividend date was Monday, August 26th. This is a positive change from Hecla Mining's previous quarterly dividend of $0.00. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.77%. Hecla Mining's payout ratio is -33.33%.

Insider Buying and Selling at Hecla Mining

In other 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 transaction, the vice president now owns 173,700 shares of the company's stock, valued at approximately $1,175,949. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Hecla Mining

Several institutional investors and hedge funds have recently made changes to their positions in HL. Van ECK Associates Corp grew its stake in Hecla Mining by 6.8% during the first quarter. Van ECK Associates Corp now owns 60,513,592 shares of the basic materials company's stock worth $291,070,000 after buying an additional 3,827,580 shares during the last quarter. Vanguard Group Inc. raised its position in Hecla Mining by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 59,420,114 shares of the basic materials company's stock valued at $285,811,000 after purchasing an additional 1,506,573 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Hecla Mining by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 34,644,620 shares of the basic materials company's stock worth $168,027,000 after purchasing an additional 146,689 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Hecla Mining in the first quarter valued at $42,576,000. Finally, Ninety One UK Ltd raised its holdings in shares of Hecla Mining by 17.0% in the second quarter. Ninety One UK Ltd now owns 8,219,231 shares of the basic materials company's stock valued at $39,863,000 after buying an additional 1,196,515 shares during 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.