Hecla Mining (NYSE:HL) Shares Down 2.3% - Time to Sell?

Key Points

• Hecla Mining's stock price decreased by 2.3% to $10.78, with trading volume increasing by 25% compared to its average daily volume.
• Several research reports have shown mixed ratings for Hecla Mining, with two analysts giving it a "Buy" rating but the consensus rating remaining at "Hold" with a target price of $7.36.
• Hecla Mining recently announced a quarterly dividend of $0.0038 per share, reflecting an annualized yield of 0.1% and a payout ratio of 6.25%.

Hecla Mining Company (NYSE:HL - Get Free Report) dropped 2.3% during trading on Thursday . The stock traded as low as $10.38 and last traded at $10.78. Approximately 27,112,352 shares traded hands during mid-day trading, an increase of 25% from the average daily volume of 21,645,465 shares. The stock had previously closed at $11.03.

Wall Street Analyst Weigh In

HL has been the subject of several research reports. National Bank Financial raised Hecla Mining to a "hold" rating in a research note on Thursday, June 12th. National Bankshares set a $7.00 target price on Hecla Mining in a research note on Friday, June 13th. HC Wainwright lifted their target price on Hecla Mining from $11.50 to $12.50 and gave the company 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. Finally, Wall Street Zen raised Hecla Mining from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Hecla Mining has a consensus rating of "Hold" and a consensus target price of $7.36.

Hecla Mining Trading Down 2.3%

The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 1.99. The business has a 50 day moving average of $7.70 and a 200 day moving average of $6.30. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 67.35 and a beta of 1.29.

Hecla Mining (NYSE:HL - Get Free Report) last posted 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 firm 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 company's revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 earnings per share. As a group, research analysts predict that Hecla Mining Company will post 0.21 earnings per share for the current fiscal year.

Hecla Mining Dividend Announcement

The firm 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. The ex-dividend date was Friday, August 22nd. This represents a $0.02 annualized dividend and a yield of 0.1%. Hecla Mining's payout ratio is currently 6.25%.

Insiders Place Their Bets

In other Hecla Mining news, VP Stuart Maurice Absolom sold 14,472 shares of Hecla Mining stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $11.29, for a total transaction of $163,388.88. Following the transaction, the vice president directly owned 73,200 shares in the company, valued at approximately $826,428. The trade was a 16.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.62% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Transce3nd LLC bought a new stake in shares of Hecla Mining in the second quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Hecla Mining in the first quarter valued at about $31,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Hecla Mining by 255.6% in the second 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 in the last quarter. Headlands Technologies LLC bought a new stake in shares of Hecla Mining in the second quarter valued at about $44,000. Finally, PFG Investments LLC bought a new stake in shares of Hecla Mining in the first quarter valued at about $56,000. 63.01% of the stock is currently 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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