Hecla Mining (NYSE:HL) Shares Down 6.2% – What’s Next?

Hecla Mining Company (NYSE:HL) fell 6.2% during trading on Tuesday . The stock traded as low as $20.47 and last traded at $21.21. 23,687,691 shares were traded during mid-day trading, a decline of 16% from the average session volume of 28,076,227 shares. The stock had previously closed at $22.60.

Wall Street Analyst Weigh In

HL has been the topic of a number of research reports. Scotiabank increased their target price on shares of Hecla Mining from $15.00 to $25.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. Canadian Imperial Bank of Commerce increased their price objective on Hecla Mining from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. HC Wainwright lifted their target price on Hecla Mining from $16.50 to $36.50 and gave the company a “buy” rating in a report on Tuesday, January 27th. Canaccord Genuity Group set a $26.50 price target on Hecla Mining in a report on Friday, January 23rd. Finally, Wall Street Zen upgraded Hecla Mining from a “hold” rating to a “buy” rating in a research note on Sunday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Hecla Mining currently has an average rating of “Hold” and a consensus price target of $22.00.

Hecla Mining Trading Down 6.2%

The company has a debt-to-equity ratio of 0.11, a current ratio of 2.15 and a quick ratio of 1.51. The firm has a market capitalization of $14.21 billion, a PE ratio of 80.71 and a beta of 1.25. The business’s 50-day moving average price is $22.52 and its 200-day moving average price is $15.52.

Hecla Mining (NYSE:HL) last announced its earnings results on Tuesday, February 17th. The basic materials company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. The business had revenue of $448.11 million during the quarter, compared to the consensus estimate of $400.75 million. Hecla Mining had a net margin of 16.35% and a return on equity of 7.87%. The business’s quarterly revenue was up 82.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.04 earnings per share. As a group, analysts expect that Hecla Mining Company will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Kurt Allen sold 52,219 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president owned 216,641 shares of the company’s stock, valued at approximately $4,746,604.31. The trade was a 19.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David C. Sienko sold 207,553 shares of Hecla Mining stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $19.42, for a total transaction of $4,030,679.26. Following the completion of the transaction, the vice president owned 906,370 shares in the company, valued at approximately $17,601,705.40. This trade represents a 18.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Hecla Mining

Hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in Hecla Mining by 32.4% during the 3rd quarter. Van ECK Associates Corp now owns 49,881,495 shares of the basic materials company’s stock worth $603,566,000 after purchasing an additional 12,197,740 shares during the period. Vanguard Group Inc. boosted its stake in shares of Hecla Mining by 13.4% in the third quarter. Vanguard Group Inc. now owns 71,349,059 shares of the basic materials company’s stock valued at $863,324,000 after buying an additional 8,452,401 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Hecla Mining by 38.0% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,524,912 shares of the basic materials company’s stock worth $284,651,000 after acquiring an additional 6,472,566 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Hecla Mining by 86.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,715,100 shares of the basic materials company’s stock worth $244,003,000 after acquiring an additional 5,906,313 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Hecla Mining during the 4th quarter worth $88,417,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Hecla Mining Company Profile

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.