Hecla Mining (NYSE:HL) Reaches New 12-Month High - Here's Why

Key Points

• Hecla Mining's stock price reached a new 52-week high of $11.96, reflecting strong trading activity with over 5.7 million shares exchanged.
• Recent research reports have influenced analyst ratings, with two analysts recommending a buy and five maintaining a hold rating, along with a consensus price target of $7.36.
• The company reported Q2 earnings of $0.08 per share, exceeding estimates, resulting in a 23.8% year-over-year revenue increase to $304.03 million.

Hecla Mining Company (NYSE:HL - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The company traded as high as $11.96 and last traded at $11.86, with a volume of 5732228 shares. The stock had previously closed at $11.53.

Wall Street Analysts Forecast Growth

HL has been the topic of a number of recent research reports. National Bankshares set a $7.00 price target on shares of Hecla Mining in a research report on Friday, June 13th. Wall Street Zen raised shares of Hecla Mining from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Roth Capital reissued a "neutral" rating on shares of Hecla Mining in a report on Thursday, August 7th. CIBC boosted their target price on shares of Hecla Mining from $7.50 to $8.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Finally, HC Wainwright boosted their target price 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. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $7.36.

Hecla Mining Stock Up 3.0%

The company has a market capitalization of $7.96 billion, a P/E ratio of 74.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.99 and a current ratio of 2.67. The firm's fifty day moving average is $8.30 and its 200-day moving average is $6.54.

Hecla Mining (NYSE:HL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $304.03 million for 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%. The firm's revenue was up 23.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 EPS. As a group, equities research analysts predict that Hecla Mining Company will post 0.21 EPS for the current year.

Hecla Mining Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 22nd were issued a dividend of $0.0038 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. Hecla Mining's payout ratio is 6.25%.

Insider Activity

In other Hecla Mining news, VP Stuart Maurice Absolom sold 14,472 shares of the business's stock in a transaction that occurred 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 sale, the vice president directly owned 73,200 shares of the company's stock, valued at $826,428. The trade was a 16.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.62% of the company's stock.

Institutional Investors Weigh In On Hecla Mining

Institutional investors have recently added to or reduced their stakes in the business. Transce3nd LLC bought a new stake in Hecla Mining during the 2nd quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Hecla Mining in the 1st quarter worth approximately $31,000. EverSource Wealth Advisors LLC lifted its position 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 worth $37,000 after purchasing an additional 4,425 shares during the period. Headlands Technologies LLC acquired a new position in shares of Hecla Mining in the 2nd quarter worth approximately $44,000. Finally, DRW Securities LLC acquired a new position in shares of Hecla Mining in the 1st quarter worth approximately $54,000. 63.01% of the stock is owned by institutional investors.

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.

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