Hecla Mining (NYSE:HL) Shares Down 7.9% - Should You Sell?

Key Points

• Hecla Mining's stock dropped by 7.9% to $14.03, with trading volume down 66% from its average, suggesting increased selling pressure.
• Analysts have given a consensus rating of Hold with price targets ranging from $6.50 to $15.00, reflecting mixed sentiments on the stock's future.
• The company reported a revenue increase of 23.8% year-over-year, exceeding analyst expectations with earnings per share of $0.08 for the last quarter.

Hecla Mining Company (NYSE:HL - Get Free Report)'s stock price was down 7.9% during mid-day trading on Friday . The company traded as low as $13.97 and last traded at $14.03. Approximately 7,442,450 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 22,206,539 shares. The stock had previously closed at $15.24.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on HL shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Hecla Mining in a report on Wednesday, October 8th. CIBC upped their price objective on shares of Hecla Mining from $12.50 to $15.00 and gave the stock a "neutral" rating in a report on Friday, October 10th. HC Wainwright upped their price target on shares of Hecla Mining from $11.50 to $12.50 and gave the company a "buy" rating in a report on Thursday, August 7th. BMO Capital Markets upped their price target on shares of Hecla Mining from $6.00 to $6.50 and gave the company a "market perform" rating in a report on Thursday, August 7th. Finally, Roth Capital set a $8.75 price target on shares of Hecla Mining and gave the company a "sell" rating in a report on Friday, October 3rd. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $8.75.

Hecla Mining Trading Down 10.2%

The company has a market cap of $9.17 billion, a price-to-earnings ratio of 85.17 and a beta of 1.31. The company's fifty day moving average price is $10.30 and its two-hundred day moving average price is $7.26. The company has a quick ratio of 1.99, a current ratio of 2.67 and a debt-to-equity ratio of 0.23.

Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. Hecla Mining had a net margin of 9.55% and a return on equity of 5.51%. The business had revenue of $304.03 million for the quarter, compared to analysts' expectations of $248.93 million. During the same period in the prior year, the firm earned $0.02 earnings per share. Hecla Mining's revenue was up 23.8% compared to the same quarter last year. Research analysts expect that Hecla Mining Company will post 0.21 earnings per share for the current year.

Hecla Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd were given a $0.0038 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, August 22nd. Hecla Mining's dividend payout ratio (DPR) is 6.25%.

Insider Activity at Hecla Mining

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

Hedge Funds Weigh In On Hecla Mining

A number of institutional investors have recently added to or reduced their stakes in HL. Transce3nd LLC bought a new stake in shares of Hecla Mining in the 2nd quarter valued at $25,000. USA Financial Formulas bought a new position in shares of Hecla Mining during the third quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Hecla Mining during the first quarter valued at about $31,000. EverSource Wealth Advisors LLC increased its holdings in Hecla Mining by 255.6% during the second quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company's stock worth $37,000 after buying an additional 4,425 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Hecla Mining during the second quarter worth about $44,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.

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