Hecla Mining (NYSE:HL) Shares Down 11.9% – Here’s Why

Hecla Mining Company (NYSE:HL)’s share price fell 11.9% during trading on Tuesday . The company traded as low as $20.49 and last traded at $21.71. 29,881,177 shares changed hands during mid-day trading, an increase of 10% from the average session volume of 27,165,365 shares. The stock had previously closed at $24.63.

Wall Street Analyst Weigh In

HL has been the subject of several analyst reports. Canaccord Genuity Group set a $26.50 target price on shares of Hecla Mining in a research note on Friday, January 23rd. Roth Mkm set a $13.00 target price on shares of Hecla Mining in a research note on Wednesday, February 18th. Canadian Imperial Bank of Commerce increased their price target on Hecla Mining from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Zacks Research lowered shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 13th. Finally, HC Wainwright upped their price objective 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. 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 company. According to MarketBeat.com, Hecla Mining currently has an average rating of “Hold” and an average price target of $21.63.

Hecla Mining Stock Performance

The firm has a market cap of $14.55 billion, a price-to-earnings ratio of 44.31 and a beta of 1.25. The firm’s 50 day moving average is $23.44 and its 200-day moving average is $16.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.22 and a current ratio of 2.72.

Hecla Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Monday, March 9th will be paid a $0.0038 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Monday, March 9th. Hecla Mining’s dividend payout ratio (DPR) is presently 2.04%.

Insider Activity at Hecla Mining

In other Hecla Mining news, VP Kurt Allen sold 52,219 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president directly owned 216,641 shares in the company, valued at $4,746,604.31. This represents a 19.42% decrease in their ownership of the stock. The transaction 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 stock was sold at an average price of $19.42, for a total value of $4,030,679.26. Following the completion of the transaction, the vice president owned 906,370 shares in the company, valued at $17,601,705.40. The trade was a 18.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Ninety One UK Ltd raised its position in Hecla Mining by 1.7% in the 3rd quarter. Ninety One UK Ltd now owns 6,219,902 shares of the basic materials company’s stock worth $75,261,000 after purchasing an additional 103,009 shares during the last quarter. Maryland State Retirement & Pension System acquired a new stake in shares of Hecla Mining in the 3rd quarter valued at $1,150,000. Yousif Capital Management LLC bought a new stake in shares of Hecla Mining during the third quarter worth $2,483,000. Berman McAleer LLC bought a new position in Hecla Mining in the third quarter valued at about $593,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Hecla Mining in the second quarter worth about $2,256,000. 63.01% of the stock is 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.