Hecla Mining (NYSE:HL) Trading Down 12.1% – Here’s Why

Hecla Mining Company (NYSE:HL)’s share price was down 12.1% during trading on Thursday . The stock traded as low as $20.77 and last traded at $20.8230. Approximately 33,393,561 shares changed hands during trading, an increase of 17% from the average daily volume of 28,598,150 shares. The stock had previously closed at $23.69.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HL shares. Zacks Research upgraded shares of Hecla Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. HC Wainwright lifted their price target on Hecla Mining from $16.50 to $36.50 and gave the company a “buy” rating in a report on Tuesday, January 27th. Roth Mkm reissued a “sell” rating and issued a $16.00 price objective on shares of Hecla Mining in a report on Tuesday, January 27th. Canaccord Genuity Group set a $26.50 target price on Hecla Mining in a research report on Friday, January 23rd. Finally, BMO Capital Markets boosted their price target on Hecla Mining from $16.00 to $28.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 27th. One equities 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 assigned a Sell rating to the company. According to data from MarketBeat, Hecla Mining currently has an average rating of “Hold” and an average target price of $22.00.

Hecla Mining Trading Down 12.1%

The company has a current ratio of 2.15, a quick ratio of 1.51 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $22.20 and a 200-day moving average price of $15.11. The company has a market capitalization of $13.95 billion, a price-to-earnings ratio of 67.17 and a beta of 1.25.

Insider Transactions at Hecla Mining

In other Hecla Mining news, VP David C. Sienko sold 207,553 shares of Hecla Mining stock in a transaction that occurred on 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 transaction, the vice president owned 906,370 shares in the company, valued at approximately $17,601,705.40. The trade was a 18.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,144,118.29. Following the sale, the vice president owned 216,641 shares of the company’s stock, valued at $4,746,604.31. This trade represents a 19.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.62% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hecla Mining

Institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp boosted its position in shares of Hecla Mining by 32.4% in the 3rd quarter. Van ECK Associates Corp now owns 49,881,495 shares of the basic materials company’s stock valued at $603,566,000 after purchasing an additional 12,197,740 shares during the period. Vanguard Group Inc. lifted its stake in Hecla Mining by 13.4% during 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. boosted its holdings in shares of Hecla Mining by 38.0% in 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 buying an additional 6,472,566 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Hecla Mining by 577.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 6,808,787 shares of the basic materials company’s stock worth $82,386,000 after buying an additional 5,804,298 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Hecla Mining in the fourth quarter worth approximately $88,417,000. 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.