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

Key Points

• Hecla Mining's share price reached a new 52-week high of $8.94, with a trading volume of approximately 26.57 million shares, marking a significant increase from its previous close of $8.51.
• Research analysts have updated their price targets for Hecla Mining, with CIBC setting a price objective of $8.00 and HC Wainwright raising it to $12.50, reflecting varying levels of confidence in the stock.
• The company reported a 23.8% increase in revenue year-over-year for its latest quarter, exceeding analyst expectations with earnings of $0.08 per share, compared to a consensus estimate of $0.05.

Hecla Mining Company (NYSE:HL - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $8.94 and last traded at $8.91, with a volume of 26567770 shares. The stock had previously closed at $8.51.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HL shares. CIBC increased their price objective on Hecla Mining from $7.50 to $8.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. HC Wainwright increased their price objective on Hecla Mining from $11.50 to $12.50 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Roth Capital reissued a "neutral" rating on shares of Hecla Mining in a research note on Thursday, August 7th. BMO Capital Markets increased 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. Finally, Wall Street Zen raised Hecla Mining from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Hecla Mining presently has an average rating of "Hold" and a consensus price target of $7.36.

Hecla Mining Stock Performance

The company has a current ratio of 2.67, a quick ratio of 1.99 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $6.71 and a two-hundred day simple moving average of $5.92. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 55.72 and a beta of 1.29.

Hecla Mining (NYSE:HL - Get Free Report) last issued its earnings results 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. The company had revenue of $304.03 million for the quarter, compared to analyst estimates of $248.93 million. Hecla Mining had a return on equity of 5.51% and a net margin of 9.55%.The business's revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 EPS. As a group, sell-side analysts forecast that Hecla Mining Company will post 0.21 earnings per share for the current fiscal year.

Hecla Mining Announces Dividend

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

Insider Activity at Hecla Mining

In other news, VP Stuart Maurice Absolom sold 18,926 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $6.66, for a total transaction of $126,047.16. Following the transaction, the vice president owned 59,410 shares of the company's stock, valued at approximately $395,670.60. This represents a 24.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HL. Transce3nd LLC acquired a new position in shares of Hecla Mining during the 2nd quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Hecla Mining during the 1st quarter valued at approximately $31,000. EverSource Wealth Advisors LLC boosted its stake in 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 valued at $37,000 after purchasing an additional 4,425 shares during the period. Headlands Technologies LLC bought a new stake in Hecla Mining during the 2nd quarter valued at approximately $44,000. Finally, DRW Securities LLC bought a new stake in Hecla Mining during the 1st quarter valued at approximately $54,000. Institutional investors and hedge funds 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.

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