Hecla Mining (NYSE:HL) Trading 5.2% Higher – Here’s What Happened
by Renee Jackson · The Cerbat GemHecla Mining Company (NYSE:HL – Get Free Report)’s share price traded up 5.2% during trading on Friday . The stock traded as high as $24.06 and last traded at $23.98. 33,266,686 shares traded hands during trading, an increase of 18% from the average session volume of 28,078,551 shares. The stock had previously closed at $22.79.
Analyst Ratings Changes
Several brokerages have issued reports on HL. Weiss Ratings restated a “hold (c+)” rating on shares of Hecla Mining in a report on Monday, December 29th. Wall Street Zen upgraded Hecla Mining from a “hold” rating to a “buy” rating in a research report on Sunday, November 2nd. Canadian Imperial Bank of Commerce increased their target price on Hecla Mining from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Canaccord Genuity Group set a $26.50 price target on shares of Hecla Mining in a research note on Friday, January 23rd. Finally, Roth Mkm set a $13.00 price target on shares of Hecla Mining in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.63.
View Our Latest Stock Report on Hecla Mining
Hecla Mining Price Performance
The company has a current ratio of 2.72, a quick ratio of 1.51 and a debt-to-equity ratio of 0.10. The company has a 50 day simple moving average of $22.88 and a 200 day simple moving average of $15.91. The stock has a market cap of $16.07 billion, a P/E ratio of 48.94 and a beta of 1.25.
Hecla Mining Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Monday, March 9th will be issued a dividend of $0.0038 per share. The ex-dividend date is Monday, March 9th. This represents a $0.02 annualized dividend and a yield of 0.1%. Hecla Mining’s dividend payout ratio is presently 2.04%.
Insiders Place Their Bets
In other news, VP Kurt Allen sold 52,219 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president owned 216,641 shares in the company, valued at $4,746,604.31. This trade represents a 19.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David C. Sienko sold 207,553 shares of Hecla Mining 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 approximately $17,601,705.40. This represents a 18.63% decrease in their position. The SEC filing for this sale provides additional information. 0.62% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the stock. Transce3nd LLC bought a new stake in shares of Hecla Mining during the 2nd quarter worth approximately $25,000. USA Financial Formulas acquired a new position in Hecla Mining during the third quarter worth $25,000. Lodestone Wealth Management LLC bought a new stake in Hecla Mining during the fourth quarter worth $28,000. Quadrant Capital Group LLC raised its position in Hecla Mining by 74.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 631 shares in the last quarter. Finally, Sittner & Nelson LLC acquired a new stake in Hecla Mining in the fourth quarter valued at $29,000. 63.01% of the stock is currently owned by institutional investors.
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.