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

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HL. Roth Capital reiterated a "neutral" rating and issued a $6.00 target price on shares of Hecla Mining in a research note on Tuesday, July 1st. BMO Capital Markets reissued a "market perform" rating and issued a $5.50 price target (down from $7.50) on shares of Hecla Mining in a report on Monday, May 5th. National Bankshares set a $7.00 price target on shares of Hecla Mining in a report on Friday, June 13th. National Bank Financial raised shares of Hecla Mining to a "hold" rating in a report on Thursday, June 12th. Finally, TD Securities cut their price target on shares of Hecla Mining from $6.00 to $5.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Five equities 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, the stock presently has an average rating of "Hold" and an average price target of $6.92.

Hecla Mining Stock Performance

The stock has a market capitalization of $3.64 billion, a PE ratio of 52.37 and a beta of 1.47. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 0.75. The business's fifty day moving average price is $5.55 and its 200-day moving average price is $5.51.

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 for the quarter, missing the consensus estimate of $0.05 by ($0.01). Hecla Mining had a return on equity of 3.87% and a net margin of 7.13%. The company had revenue of $261.34 million during the quarter, compared to the consensus estimate of $238.50 million. During the same quarter last year, the company posted ($0.01) earnings per share. The firm's revenue for the quarter was up 37.9% on a year-over-year basis. As a group, equities research analysts expect that Hecla Mining Company will post 0.21 EPS for the current year.

Hecla Mining Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders 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 0.26%. The ex-dividend date of this dividend was Friday, May 23rd. Hecla Mining's dividend payout ratio (DPR) is presently 9.09%.

Insider Buying and Selling

In related news, Director Catherine J. Boggs acquired 20,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average price of $4.99 per share, with a total value of $99,800.00. Following the completion of the purchase, the director owned 348,169 shares in the company, valued at $1,737,363.31. This trade represents a 6.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stuart Maurice Absolom sold 18,926 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $6.66, for a total value of $126,047.16. Following the sale, the vice president directly owned 59,410 shares of the company's stock, valued at approximately $395,670.60. This trade represents a 24.16% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company's stock.

Institutional Trading of Hecla Mining

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in Hecla Mining by 9.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,798,133 shares of the basic materials company's stock valued at $13,739,000 after buying an additional 232,425 shares during the period. Proficio Capital Partners LLC bought a new stake in Hecla Mining in the 4th quarter worth about $207,000. Charles Schwab Investment Management Inc. increased its holdings in Hecla Mining by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,220,645 shares of the basic materials company's stock worth $35,453,000 after buying an additional 502,094 shares in the last quarter. Arizona State Retirement System increased its holdings in Hecla Mining by 1.3% in the 4th quarter. Arizona State Retirement System now owns 173,616 shares of the basic materials company's stock worth $852,000 after buying an additional 2,297 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Hecla Mining in the 4th quarter worth about $1,640,000. 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.