Hecla Mining (NYSE:HL) Sets New 52-Week High - Here's What Happened

Key Points

• Hecla Mining's stock reached a new 52-week high of $11.69, closing at $11.57 with over 5 million shares traded.
• Analysts have mixed ratings on the stock, with two maintaining a "Buy" rating and five issuing a "Hold" rating, reflecting an average target price of $7.36.
• The company reported earnings of $0.08 per share for the last quarter, exceeding analyst expectations, and its revenue increased 23.8% year-over-year to $304.03 million.

Hecla Mining Company (NYSE:HL - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $11.69 and last traded at $11.57, with a volume of 5043103 shares changing hands. The stock had previously closed at $11.21.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HL. Roth Capital reaffirmed a "neutral" rating on shares of Hecla Mining in a research note on Thursday, August 7th. Wall Street Zen raised Hecla Mining from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. CIBC upped their price objective on Hecla Mining from $7.50 to $8.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. National Bankshares set a $7.00 price objective on Hecla Mining in a research note on Friday, June 13th. Finally, BMO Capital Markets upped their price objective on Hecla Mining from $6.00 to $6.50 and gave the company a "market perform" rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Hecla Mining has an average rating of "Hold" and an average target price of $7.36.

Hecla Mining Trading Up 5.0%

The firm has a fifty day moving average of $7.36 and a two-hundred day moving average of $6.18. The company has a market cap of $7.89 billion, a PE ratio of 73.57 and a beta of 1.29. The company has a current ratio of 2.67, a quick ratio of 1.99 and a debt-to-equity ratio of 0.23.

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

Hecla Mining Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HL. Ameriprise Financial Inc. grew its holdings in Hecla Mining by 10.7% during the 4th quarter. Ameriprise Financial Inc. now owns 25,370 shares of the basic materials company's stock valued at $125,000 after buying an additional 2,457 shares in the last quarter. Deutsche Bank AG grew its holdings in Hecla Mining by 38.5% during the 4th quarter. Deutsche Bank AG now owns 1,307,305 shares of the basic materials company's stock valued at $6,419,000 after buying an additional 363,554 shares in the last quarter. Man Group plc grew its holdings in Hecla Mining by 349.4% during the 4th quarter. Man Group plc now owns 735,420 shares of the basic materials company's stock valued at $3,611,000 after buying an additional 571,761 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Hecla Mining by 138.1% during the 4th quarter. Quantinno Capital Management LP now owns 40,313 shares of the basic materials company's stock valued at $198,000 after buying an additional 23,381 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Hecla Mining by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 165,448 shares of the basic materials company's stock worth $812,000 after purchasing an additional 54,436 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.