Hecla Mining (NYSE:HL) Shares Gap Down – Here’s Why

Hecla Mining Company (NYSE:HL)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $18.50, but opened at $16.80. Hecla Mining shares last traded at $17.1750, with a volume of 10,414,306 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have commented on HL. Canadian Imperial Bank of Commerce raised their price objective on Hecla Mining from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. HC Wainwright raised their price target on shares of Hecla Mining from $16.50 to $36.50 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Scotiabank upped their price objective on shares of Hecla Mining from $15.00 to $25.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Roth Mkm set a $13.00 target price on shares of Hecla Mining in a research report on Wednesday, February 18th. Finally, Zacks Research lowered shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.63.

Hecla Mining Trading Down 6.5%

The firm has a market capitalization of $11.60 billion, a price-to-earnings ratio of 35.42 and a beta of 1.22. The company has a fifty day moving average price of $23.59 and a 200-day moving average price of $17.69. The company has a current ratio of 2.72, a quick ratio of 2.22 and a debt-to-equity ratio of 0.10.

Hecla Mining Dividend Announcement

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

Insider Activity at Hecla Mining

In other news, VP Kurt Allen sold 52,219 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $21.91, for a total transaction of $1,144,118.29. Following the transaction, the vice president owned 216,641 shares in the company, valued at $4,746,604.31. This represents a 19.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hecla Mining

Several hedge funds have recently bought and sold shares of HL. Rockefeller Capital Management L.P. lifted its position in shares of Hecla Mining by 25.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 6,467 shares of the basic materials company’s stock worth $124,000 after buying an additional 1,292 shares during the last quarter. World Investment Advisors lifted its holdings in Hecla Mining by 27.2% in the 4th quarter. World Investment Advisors now owns 21,081 shares of the basic materials company’s stock worth $405,000 after purchasing an additional 4,511 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Hecla Mining by 4,039.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 59,896 shares of the basic materials company’s stock worth $1,149,000 after purchasing an additional 58,449 shares during the period. Pacer Advisors Inc. acquired a new position in Hecla Mining during the fourth quarter valued at approximately $1,557,000. Finally, Invesco Ltd. raised its position in shares of Hecla Mining by 102.1% in the fourth quarter. Invesco Ltd. now owns 4,327,712 shares of the basic materials company’s stock valued at $83,049,000 after purchasing an additional 2,186,601 shares during the period. 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.