Hecla Mining (NYSE:HL) Stock Price Up 3.1% – Still a Buy?

Hecla Mining Company (NYSE:HL) traded up 3.1% during trading on Wednesday . The stock traded as high as $24.26 and last traded at $23.6920. 18,229,566 shares traded hands during trading, a decline of 36% from the average session volume of 28,424,852 shares. The stock had previously closed at $22.98.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HL. BMO Capital Markets boosted their price target on shares of Hecla Mining from $16.00 to $28.00 and gave the company a “market perform” rating in a research report on Tuesday, January 27th. Scotiabank increased their target price on Hecla Mining from $15.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hecla Mining in a report on Monday, December 29th. Roth Mkm reiterated a “sell” rating and set a $16.00 price objective on shares of Hecla Mining in a research note on Tuesday, January 27th. Finally, Canaccord Genuity Group set a $26.50 price objective on shares of Hecla Mining in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Hecla Mining has an average rating of “Hold” and an average price target of $22.00.

Hecla Mining Stock Up 3.1%

The company has a quick ratio of 1.51, a current ratio of 2.15 and a debt-to-equity ratio of 0.11. The stock has a 50-day simple moving average of $22.07 and a two-hundred day simple moving average of $15.05. The firm has a market cap of $15.88 billion, a PE ratio of 76.43 and a beta of 1.25.

Insider Buying and Selling at Hecla Mining

In other news, VP David C. Sienko sold 207,553 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $19.42, for a total transaction of $4,030,679.26. Following the transaction, the vice president directly owned 906,370 shares of the company’s stock, valued at approximately $17,601,705.40. This trade represents a 18.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kurt Allen sold 52,219 shares of Hecla Mining 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 approximately $4,746,604.31. This represents a 19.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hecla Mining

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ninety One UK Ltd raised its stake in shares of Hecla Mining by 1.7% during the third quarter. Ninety One UK Ltd now owns 6,219,902 shares of the basic materials company’s stock valued at $75,261,000 after acquiring an additional 103,009 shares during the last quarter. Maryland State Retirement & Pension System bought a new stake in shares of Hecla Mining in the third quarter worth about $1,150,000. Yousif Capital Management LLC purchased a new position in Hecla Mining during the 3rd quarter valued at about $2,483,000. Berman McAleer LLC bought a new position in Hecla Mining during the 3rd quarter valued at approximately $593,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Hecla Mining in the 2nd quarter worth approximately $2,256,000. 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.