Hecla Mining (NYSE:HL) Reaches New 1-Year High - Time to Buy?

Key Points

• Hecla Mining achieved a new 52-week high during trading, reaching as high as $7.71, with a closing price of $7.65.
• The company reported earnings of $0.08 EPS, exceeding the consensus estimate by $0.03, alongside a revenue of $304.03 million, reflecting a year-over-year increase of 23.8%.
• HC Wainwright raised their price target for Hecla Mining to $12.50 with a "buy" rating, while the consensus rating remains a "hold" with an average target of $7.36.

Hecla Mining Company (NYSE:HL - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $7.71 and last traded at $7.65, with a volume of 563005 shares trading hands. The stock had previously closed at $7.55.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. National Bank Financial upgraded shares of Hecla Mining to a "hold" rating in a research report on Thursday, June 12th. National Bankshares set a $7.00 target price on shares of Hecla Mining in a report on Friday, June 13th. HC Wainwright increased their target price on shares of Hecla Mining from $11.50 to $12.50 and gave the stock a "buy" rating in a report on Thursday, August 7th. TD Securities dropped their target price 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. Finally, BMO Capital Markets increased their target price on shares of Hecla Mining from $6.00 to $6.50 and gave the stock a "market perform" rating in a report on Thursday, August 7th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Hecla Mining currently has a consensus rating of "Hold" and a consensus target price of $7.36.

Hecla Mining Trading Down 1.4%

The company has a market capitalization of $5.14 billion, a P/E ratio of 47.91 and a beta of 1.27. The stock's 50 day moving average is $6.19 and its 200-day moving average is $5.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 1.99.

Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. Hecla Mining had a net margin of 9.55% and a return on equity of 5.51%. The company had revenue of $304.03 million during the quarter, compared to the consensus estimate of $248.93 million. During the same period in the prior year, the firm earned $0.02 earnings per share. Hecla Mining's revenue was up 23.8% on a year-over-year basis. As a group, equities research analysts anticipate that Hecla Mining Company will post 0.21 earnings per share for the current year.

Hecla Mining Dividend Announcement

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

Insider Transactions at Hecla Mining

In other Hecla Mining news, VP Stuart Maurice Absolom sold 18,926 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $6.66, for a total transaction of $126,047.16. Following the completion of the transaction, the vice president owned 59,410 shares of the company's stock, valued at approximately $395,670.60. This trade represents a 24.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.62% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hecla Mining

Institutional investors and hedge funds have recently made changes to their positions in the business. Transce3nd LLC bought a new stake in shares of Hecla Mining during the second quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Hecla Mining during the 1st quarter worth $31,000. EverSource Wealth Advisors LLC boosted its stake in shares of 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 worth $37,000 after acquiring an additional 4,425 shares during the last quarter. DRW Securities LLC purchased a new position in shares of Hecla Mining during the 1st quarter worth $54,000. Finally, PFG Investments LLC bought a new stake in shares of Hecla Mining during the 1st quarter valued at $56,000. Institutional investors own 63.01% of the company's stock.

Hecla Mining Company Profile

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.