Hecla Mining (NYSE:HL) Sees Significant Increase in Short Interest

by · The Cerbat Gem

Hecla Mining (NYSE:HL – Get Free Report) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 23,960,000 shares, a growth of 49.3% from the February 13th total of 16,050,000 shares. Approximately 3.8% of the company’s stock are short sold. Based on an average daily trading volume, of 16,410,000 shares, the days-to-cover ratio is currently 1.5 days.

Insider Activity

In other Hecla Mining news, CFO Russell Douglas Lawlar sold 16,333 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $5.18, for a total value of $84,604.94. Following the completion of the sale, the chief financial officer now directly owns 297,983 shares of the company’s stock, valued at $1,543,551.94. This trade represents a 5.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Michael L. Clary sold 32,387 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $5.18, for a total value of $167,764.66. Following the transaction, the chief accounting officer now directly owns 246,440 shares in the company, valued at $1,276,559.20. This represents a 11.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 57,915 shares of company stock worth $300,000 over the last three months. 1.40% of the stock is currently owned by insiders.

Institutional Trading of Hecla Mining

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in Hecla Mining by 771.8% during the fourth quarter. GAMMA Investing LLC now owns 5,013 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 4,438 shares in the last quarter. Ameliora Wealth Management Ltd. bought a new stake in Hecla Mining in the 4th quarter worth approximately $25,000. Principal Securities Inc. bought a new position in Hecla Mining during the fourth quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Hecla Mining in the 3rd quarter worth approximately $28,000. Finally, Blue Trust Inc. grew its holdings in shares of Hecla Mining by 30.7% during the 4th quarter. Blue Trust Inc. now owns 8,351 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 1,961 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HL shares. TD Securities downgraded shares of Hecla Mining from a “buy” rating to a “hold” rating and reduced their target price for the stock from $6.50 to $5.50 in a research note on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and issued a $11.50 price objective on shares of Hecla Mining in a research note on Friday, February 14th. Roth Mkm dropped their target price on Hecla Mining from $6.60 to $6.50 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Finally, StockNews.com upgraded Hecla Mining from a “sell” rating to a “hold” rating in a research note on Monday, February 17th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.75.

View Our Latest Report on HL

Hecla Mining Price Performance

Shares of HL stock traded down $0.03 on Friday, reaching $5.75. The company’s stock had a trading volume of 20,156,038 shares, compared to its average volume of 11,722,704. Hecla Mining has a 12-month low of $4.04 and a 12-month high of $7.68. The stock’s 50 day simple moving average is $5.50 and its 200-day simple moving average is $5.84. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $3.63 billion, a P/E ratio of 114.92 and a beta of 1.94.

Hecla Mining (NYSE:HL – Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $249.66 million for the quarter, compared to the consensus estimate of $229.21 million. Hecla Mining had a net margin of 3.85% and a return on equity of 3.10%. As a group, equities analysts predict that Hecla Mining will post 0.21 earnings per share for the current fiscal year.

Hecla Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a dividend of $0.0038 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Monday, March 10th. Hecla Mining’s dividend payout ratio (DPR) is currently 20.00%.

About Hecla Mining

(Get Free Report)

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.

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