Hecla Mining (NYSE:HL) Now Covered by Scotiabank

Scotiabank initiated coverage on shares of Hecla Mining (NYSE:HL) in a research report sent to investors on Thursday morning, MarketBeat reports. The brokerage issued a sector perform rating and a $15.00 price target on the basic materials company’s stock.

Several other research analysts also recently issued reports on HL. Roth Capital set a $8.75 price objective on Hecla Mining and gave the stock a “sell” rating in a report on Friday, October 3rd. BMO Capital Markets raised their price objective on Hecla Mining from $6.00 to $6.50 and gave the stock a “market perform” rating in a research note on Thursday, August 7th. CIBC raised their price objective on shares of Hecla Mining from $12.50 to $15.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Wall Street Zen raised Hecla Mining from a “hold” rating to a “buy” rating in a research report on Sunday, November 2nd. Finally, HC Wainwright upped their target price on Hecla Mining from $12.50 to $16.50 and gave the stock a “buy” rating in a report on Thursday, November 6th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Hecla Mining has a consensus rating of “Hold” and an average target price of $10.03.

Hecla Mining Stock Performance

NYSE:HL traded down $0.24 during midday trading on Thursday, reaching $14.61. The stock had a trading volume of 13,721,654 shares, compared to its average volume of 21,899,592. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 1.99. The firm’s fifty day simple moving average is $12.56 and its 200-day simple moving average is $8.43. The stock has a market capitalization of $9.79 billion, a P/E ratio of 91.29 and a beta of 1.29. Hecla Mining has a 1-year low of $4.46 and a 1-year high of $16.09.

Hecla Mining (NYSE:HL) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $409.54 million for the quarter, compared to the consensus estimate of $315.60 million. Hecla Mining had a net margin of 9.55% and a return on equity of 5.51%. The business’s revenue was up 67.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. On average, equities research analysts forecast that Hecla Mining will post 0.21 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, November 24th will be paid a $0.0038 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. Hecla Mining’s dividend payout ratio is currently 3.23%.

Insider Activity at Hecla Mining

In other Hecla Mining news, VP Stuart Maurice Absolom sold 14,472 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $11.29, for a total transaction of $163,388.88. Following the completion of the sale, the vice president owned 73,200 shares in the company, valued at approximately $826,428. The trade was a 16.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Russell Douglas Lawlar sold 18,535 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $15.02, for a total transaction of $278,395.70. The SEC filing for this sale provides additional information. Insiders sold 181,379 shares of company stock worth $2,667,365 over the last quarter. 0.62% of the stock is currently owned by company insiders.

Institutional Trading of Hecla Mining

Large investors have recently added to or reduced their stakes in the stock. Transce3nd LLC bought a new stake in shares of Hecla Mining in the second quarter valued at approximately $25,000. USA Financial Formulas purchased a new position in Hecla Mining in the 3rd quarter worth approximately $25,000. UMB Bank n.a. raised its holdings in Hecla Mining by 2,390.0% during the 3rd quarter. UMB Bank n.a. now owns 2,490 shares of the basic materials company’s stock valued at $30,000 after buying an additional 2,390 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Hecla Mining in the first quarter worth about $31,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Hecla Mining by 255.6% in the second quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 4,425 shares during the period. Hedge funds and other institutional investors 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.