Hecla Mining (HL) Shares Gap Up Following Insider Buying Activity
Shares of Hecla Mining Company (NYSE:HL) gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $3.39, but opened at $3.46. Hecla Mining shares last traded at $3.57, with a volume of 5952869 shares changing hands.
Specifically, Director Theodore Crumley acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was acquired at an average cost of $3.49 per share, with a total value of $34,900.00. Following the completion of the acquisition, the director now owns 126,536 shares of the company’s stock, valued at $441,610.64. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director George R. Nethercutt, Jr. sold 62,500 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $5.24, for a total value of $327,500.00. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
Several research firms have recently weighed in on HL. Cantor Fitzgerald began coverage on Hecla Mining in a report on Monday. They issued a “buy” rating and a $5.00 price objective for the company. B. Riley raised Hecla Mining from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a report on Thursday, November 30th. BMO Capital Markets began coverage on Hecla Mining in a report on Friday, November 17th. They issued a “market perform” rating and a $4.75 price objective for the company. Canaccord Genuity raised Hecla Mining from a “hold” rating to a “buy” rating and set a $5.25 price target for the company in a report on Tuesday, November 14th. Finally, ValuEngine downgraded Hecla Mining from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Hecla Mining has a consensus rating of “Hold” and an average target price of $5.75.
The company has a debt-to-equity ratio of 0.34, a current ratio of 2.69 and a quick ratio of 2.15. The stock has a market cap of $1,412.53, a price-to-earnings ratio of 50.57, a price-to-earnings-growth ratio of 70.80 and a beta of 0.20.
Hecla Mining (NYSE:HL) last issued its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.02. Hecla Mining had a return on equity of 1.89% and a net margin of 4.21%. The firm had revenue of $140.80 million during the quarter, compared to the consensus estimate of $151.32 million. During the same period last year, the company earned $0.07 earnings per share. The company’s revenue for the quarter was down 21.5% on a year-over-year basis. equities analysts anticipate that Hecla Mining Company will post 0.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, November 21st were issued a dividend of $0.0025 per share. This represents a $0.01 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Monday, November 20th. Hecla Mining’s dividend payout ratio is presently 16.67%.
Several hedge funds and other institutional investors have recently modified their holdings of HL. Van ECK Associates Corp lifted its holdings in Hecla Mining by 1.1% in the third quarter. Van ECK Associates Corp now owns 38,531,381 shares of the basic materials company’s stock valued at $193,428,000 after acquiring an additional 426,023 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Hecla Mining by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 33,535,987 shares of the basic materials company’s stock valued at $168,350,000 after acquiring an additional 198,411 shares during the period. Vanguard Group Inc. lifted its holdings in Hecla Mining by 0.9% in the second quarter. Vanguard Group Inc. now owns 32,132,844 shares of the basic materials company’s stock valued at $163,877,000 after acquiring an additional 288,819 shares during the period. BT Investment Management Ltd purchased a new position in shares of Hecla Mining in the second quarter valued at $77,979,000. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Hecla Mining by 2.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 7,150,000 shares of the basic materials company’s stock valued at $35,893,000 after buying an additional 175,000 shares in the last quarter. 60.33% of the stock is owned by hedge funds and other institutional investors.
Hecla Mining Company Profile
Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Company and its subsidiaries provide precious and base metals to the United States and around the world. It produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver.
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