Hecla Mining Target of Unusually Large Options Trading (NYSE:HL)

Hecla Mining Company (NYSE:HL) saw some unusual options trading activity on Tuesday. Stock traders purchased 24,211 call options on the stock. Thisisanincreaseof32% compared to the typical volume of 18,281 call options.

Hecla Mining Stock Up 3.3%

Shares of NYSE HL traded up $0.29 during trading hours on Tuesday, hitting $8.80. 12,643,367 shares of the stock were exchanged, compared to its average volume of 20,891,971. The company has a quick ratio of 1.99, a current ratio of 2.67 and a debt-to-equity ratio of 0.23. The company has a market cap of $5.89 billion, a PE ratio of 54.91 and a beta of 1.29. The firm has a fifty day moving average price of $6.65 and a 200-day moving average price of $5.90. Hecla Mining has a 12 month low of $4.46 and a 12 month high of $8.90.

Hecla Mining (NYSE:HL) last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $304.03 million during the quarter, compared to analyst estimates of $248.93 million. Hecla Mining had a net margin of 9.55% and a return on equity of 5.51%. Hecla Mining’s revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 EPS. On average, sell-side analysts expect that Hecla Mining will post 0.21 EPS for the current year.

Hecla Mining Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.0038 per share. The ex-dividend date is Friday, August 22nd. This represents a $0.02 dividend on an annualized basis and a yield of 0.2%. Hecla Mining’s dividend payout ratio is presently 6.25%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HL. HC Wainwright boosted their price objective on shares of Hecla Mining from $11.50 to $12.50 and gave the company a “buy” rating in a research report on Thursday, August 7th. BMO Capital Markets boosted their price target on shares of Hecla Mining from $6.00 to $6.50 and gave the company a “market perform” rating in a report on Thursday, August 7th. Roth Capital restated a “neutral” rating on shares of Hecla Mining in a report on Thursday, August 7th. CIBC boosted their price target on shares of Hecla Mining from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Finally, TD Securities reduced their price target on shares of Hecla Mining from $6.00 to $5.00 and set a “hold” rating for the company in a report on Monday, May 5th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.36.

Insider Transactions at Hecla Mining

In other Hecla Mining news, VP Stuart Maurice Absolom sold 18,926 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $6.66, for a total value of $126,047.16. Following the completion of the sale, the vice president directly owned 59,410 shares of the company’s stock, valued at $395,670.60. The trade was a 24.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Transce3nd LLC acquired a new position in Hecla Mining during the 2nd quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Hecla Mining during the 1st quarter valued at approximately $31,000. EverSource Wealth Advisors LLC increased its stake in Hecla Mining by 255.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 4,425 shares in the last quarter. Headlands Technologies LLC acquired a new position in Hecla Mining during the 2nd quarter valued at approximately $44,000. Finally, DRW Securities LLC acquired a new position in Hecla Mining during the 1st quarter valued at approximately $54,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

About Hecla Mining

Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States, Canada, Japan, Korea, and China. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for custom smelters, metal traders, and third-party processors; and doré containing silver and gold.