Hecla Mining (NYSE:HL) Trading Up 3.6% – Here’s Why

Hecla Mining Company (NYSE:HL)’s stock price traded up 3.6% during mid-day trading on Monday . The stock traded as high as $21.15 and last traded at $21.1340. 20,453,515 shares were traded during mid-day trading, a decline of 22% from the average session volume of 26,345,420 shares. The stock had previously closed at $20.39.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group set a $26.50 target price on Hecla Mining in a report on Friday, January 23rd. BMO Capital Markets raised 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. HC Wainwright boosted their price objective on Hecla Mining from $16.50 to $36.50 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Canadian Imperial Bank of Commerce raised their target price on Hecla Mining from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Finally, Zacks Research downgraded Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $21.63.

Hecla Mining Stock Up 3.6%

The stock has a fifty day moving average of $23.53 and a 200 day moving average of $17.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.72 and a quick ratio of 2.22. The firm has a market capitalization of $14.17 billion, a P/E ratio of 43.13 and a beta of 1.22.

Hecla Mining Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Monday, March 9th will be issued 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 payout ratio is 2.04%.

Insider Transactions at Hecla Mining

In other Hecla Mining news, VP Kurt Allen sold 52,219 shares of the business’s stock in a transaction dated 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 transaction, the vice president directly owned 216,641 shares in the company, valued at $4,746,604.31. The trade was 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 through the SEC website. Also, VP David C. Sienko sold 207,553 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $19.42, for a total transaction of $4,030,679.26. Following the sale, the vice president directly owned 906,370 shares in the company, valued at approximately $17,601,705.40. This trade represents a 18.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.62% of the stock is owned by insiders.

Hedge Funds Weigh In On Hecla Mining

A number of large investors have recently modified their holdings of the company. Van ECK Associates Corp grew its stake in Hecla Mining by 32.4% during the third quarter. Van ECK Associates Corp now owns 49,881,495 shares of the basic materials company’s stock valued at $603,566,000 after acquiring an additional 12,197,740 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Hecla Mining by 13.4% in the 3rd quarter. Vanguard Group Inc. now owns 71,349,059 shares of the basic materials company’s stock valued at $863,324,000 after purchasing an additional 8,452,401 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Hecla Mining by 38.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,524,912 shares of the basic materials company’s stock valued at $284,651,000 after purchasing an additional 6,472,566 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Hecla Mining by 86.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,715,100 shares of the basic materials company’s stock valued at $244,003,000 after purchasing an additional 5,906,313 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Hecla Mining in the fourth quarter worth $88,417,000. 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.