Hecla Mining (NYSE:HL) Shares Down 7.9% – Here’s What Happened

Hecla Mining Company (NYSE:HL) shares traded down 7.9% during mid-day trading on Thursday . The company traded as low as $20.90 and last traded at $21.2850. 24,005,178 shares were traded during trading, a decline of 21% from the average session volume of 30,230,744 shares. The stock had previously closed at $23.11.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HL shares. Scotiabank upped their price target on Hecla Mining from $15.00 to $25.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. CIBC upped their target price on shares of Hecla Mining from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Hecla Mining in a research note on Monday, December 29th. BMO Capital Markets boosted 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. Finally, Wall Street Zen raised shares of Hecla Mining from a “hold” rating to a “buy” rating in a report on Sunday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Hecla Mining has an average rating of “Hold” and a consensus price target of $22.00.

Hecla Mining Trading Down 7.9%

The stock’s 50 day simple moving average is $21.60 and its 200 day simple moving average is $14.53. The firm has a market cap of $14.26 billion, a PE ratio of 68.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.51 and a current ratio of 2.15.

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 analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $409.54 million during the quarter, compared to the consensus estimate of $315.60 million. Hecla Mining had a net margin of 16.35% and a return on equity of 7.87%. The firm’s revenue was up 67.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. On average, sell-side analysts forecast that Hecla Mining Company will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Russell Douglas Lawlar sold 18,535 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $15.02, for a total value of $278,395.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David C. Sienko sold 207,553 shares of the stock in a transaction that occurred on 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 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. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 426,679 shares of company stock valued at $7,678,773 over the last 90 days. Insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Hecla Mining

A number of hedge funds have recently made changes to their positions in the business. Transce3nd LLC bought a new position in shares of Hecla Mining during the 2nd quarter valued at $25,000. USA Financial Formulas bought a new position in shares of Hecla Mining during the third quarter valued at about $25,000. Lodestone Wealth Management LLC bought a new position in shares of Hecla Mining during the fourth quarter valued at about $28,000. UMB Bank n.a. increased its holdings in shares of Hecla Mining by 2,390.0% in the third quarter. UMB Bank n.a. now owns 2,490 shares of the basic materials company’s stock worth $30,000 after buying an additional 2,390 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Hecla Mining by 255.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 4,425 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

About Hecla Mining

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.