Hecla Mining (NYSE:HL) Stock Price Down 5.5% - Here's Why

Hecla Mining Company (NYSE:HL - Get Free Report)'s stock price was down 5.5% on Tuesday . The company traded as low as $5.99 and last traded at $5.82. Approximately 2,289,937 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 15,766,661 shares. The stock had previously closed at $6.16.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on HL shares. TD Securities dropped their target price on Hecla Mining from $6.00 to $5.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Roth Capital reiterated a "neutral" rating and issued a $6.00 price objective on shares of Hecla Mining in a research report on Tuesday, July 1st. BMO Capital Markets reiterated a "market perform" rating and issued a $5.50 price objective (down previously from $7.50) on shares of Hecla Mining in a research report on Monday, May 5th. National Bankshares set a $7.00 price objective on Hecla Mining in a research report on Friday, June 13th. Finally, National Bank Financial upgraded Hecla Mining to a "hold" rating in a research report on Thursday, June 12th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $6.92.

Hecla Mining Trading Up 2.3%

The company has a current ratio of 1.43, a quick ratio of 0.75 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $5.56 and a 200-day simple moving average of $5.52. The firm has a market cap of $3.74 billion, a P/E ratio of 53.69 and a beta of 1.47.

Hecla Mining (NYSE:HL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01). Hecla Mining had a net margin of 7.13% and a return on equity of 3.87%. The business had revenue of $261.34 million for the quarter, compared to analysts' expectations of $238.50 million. During the same quarter in the previous year, the firm earned ($0.01) EPS. Hecla Mining's revenue was up 37.9% compared to the same quarter last year. On average, equities research analysts expect that Hecla Mining Company will post 0.21 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 23rd were paid a dividend of $0.0038 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend was Friday, May 23rd. Hecla Mining's dividend payout ratio (DPR) is currently 9.09%.

Insiders Place Their Bets

In other Hecla Mining news, Director Catherine J. Boggs bought 20,000 shares of Hecla Mining stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average cost of $4.99 per share, with a total value of $99,800.00. Following the transaction, the director directly owned 348,169 shares of the company's stock, valued at approximately $1,737,363.31. This represents a 6.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Stuart Maurice Absolom sold 18,926 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $6.66, for a total value of $126,047.16. Following the transaction, the vice president directly owned 59,410 shares in the company, valued at $395,670.60. This represents a 24.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company's stock.

Institutional Trading of Hecla Mining

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Hecla Mining by 2.3% during the first quarter. Vanguard Group Inc. now owns 62,830,935 shares of the basic materials company's stock worth $349,340,000 after acquiring an additional 1,437,895 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Hecla Mining by 8.7% in the first quarter. Dimensional Fund Advisors LP now owns 28,827,696 shares of the basic materials company's stock valued at $160,285,000 after purchasing an additional 2,306,239 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Hecla Mining by 100.5% in the fourth quarter. Tidal Investments LLC now owns 15,885,647 shares of the basic materials company's stock valued at $77,999,000 after purchasing an additional 7,960,826 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Hecla Mining by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 13,904,662 shares of the basic materials company's stock valued at $68,289,000 after purchasing an additional 39,421 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Hecla Mining by 12.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,124,216 shares of the basic materials company's stock valued at $67,411,000 after buying an additional 1,366,700 shares during the period. 63.01% of the stock is owned by institutional investors and hedge funds.

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.