Hecla Mining (NYSE:HL) Shares Down 1.3% – Here’s What Happened

Hecla Mining Company (NYSE:HL)’s share price traded down 1.3% on Monday . The stock traded as low as $23.17 and last traded at $24.5980. 24,111,577 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 27,096,561 shares. The stock had previously closed at $24.91.

Analyst Upgrades and Downgrades

HL has been the subject of several recent research reports. BMO Capital Markets lifted their price objective on Hecla Mining from $16.00 to $28.00 and gave the company a “market perform” rating in a research note on Tuesday, January 27th. Zacks Research lowered shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 13th. Canaccord Genuity Group set a $26.50 price objective on shares of Hecla Mining in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hecla Mining in a report on Monday, December 29th. Finally, Roth Mkm set a $13.00 price target on shares of Hecla Mining in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Hecla Mining currently has an average rating of “Hold” and an average target price of $21.63.

Hecla Mining Stock Up 0.3%

The stock has a market capitalization of $14.59 billion, a price-to-earnings ratio of 44.41 and a beta of 1.22. The firm’s fifty day simple moving average is $23.47 and its 200 day simple moving average is $16.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.22 and a current ratio of 2.72.

Hecla Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Monday, March 9th will be paid a dividend of $0.0038 per share. The ex-dividend date is Monday, March 9th. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. Hecla Mining’s payout ratio is currently 2.04%.

Insider Activity at Hecla Mining

In related news, VP Kurt Allen sold 52,219 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $21.91, for a total value of $1,144,118.29. Following the sale, the vice president owned 216,641 shares in the company, valued at approximately $4,746,604.31. This represents a 19.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David C. Sienko sold 207,553 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $19.42, for a total value of $4,030,679.26. Following the completion of the sale, the vice president directly owned 906,370 shares in the company, valued at $17,601,705.40. This trade represents a 18.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Hecla Mining

Institutional investors have recently added to or reduced their stakes in the business. Transce3nd LLC bought a new position in shares of Hecla Mining in the second quarter valued at approximately $25,000. USA Financial Formulas purchased a new position in Hecla Mining during the third quarter worth about $25,000. Lodestone Wealth Management LLC purchased a new stake in shares of Hecla Mining during the 4th quarter valued at $28,000. Quadrant Capital Group LLC increased its position in shares of Hecla Mining by 74.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 631 shares during the last quarter. Finally, Sittner & Nelson LLC bought a new stake in shares of Hecla Mining in the 4th quarter worth approximately $29,000. 63.01% of the stock is owned by institutional investors and hedge funds.

About Hecla Mining

Hecla Mining Company, founded in 1891 and headquartered in Coeur d’Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d’Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.

The company’s principal operations are located in North America and Latin America.