Hecla Mining (NYSE:HL) Shares Gap Up After Dividend Announcement

Hecla Mining (NYSE:HL - Get Free Report)'s stock price gapped up before the market opened on Monday following a dividend announcement from the company. The stock had previously closed at $4.54, but opened at $4.78. Hecla Mining shares last traded at $4.53, with a volume of 9,007,881 shares.

The newly announced dividend which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 23rd will be paid a $0.0038 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, May 23rd. Hecla Mining's payout ratio is 9.09%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HL shares. Roth Mkm cut their target price on Hecla Mining from $6.60 to $6.50 and set a "buy" rating on the stock in a research report on Tuesday, February 18th. StockNews.com raised shares of Hecla Mining from a "sell" rating to a "hold" rating in a research note on Monday, February 17th. BMO Capital Markets reaffirmed a "market perform" rating and set a $5.50 price target (down from $7.50) on shares of Hecla Mining in a research note on Monday, May 5th. TD Securities reduced their price objective on shares of Hecla Mining from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Finally, HC Wainwright restated a "buy" rating and set a $11.50 target price on shares of Hecla Mining in a research report on Friday, February 14th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $7.20.

Hecla Mining Price Performance

The stock has a market cap of $3.26 billion, a PE ratio of 103.22 and a beta of 1.57. The firm's 50-day moving average price is $5.51 and its two-hundred day moving average price is $5.57. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 0.25.

Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). Hecla Mining had a return on equity of 3.10% and a net margin of 3.85%. The company had revenue of $261.34 million during the quarter, compared to the consensus estimate of $238.50 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The company's revenue was up 37.9% on a year-over-year basis. On average, equities analysts expect that Hecla Mining will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert Krcmarov acquired 6,570 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were acquired at an average cost of $5.29 per share, with a total value of $34,755.30. Following the completion of the acquisition, the chief executive officer now owns 331,856 shares of the company's stock, valued at approximately $1,755,518.24. This trade represents a 2.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Catherine J. Boggs acquired 20,000 shares of Hecla Mining 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 now owns 348,169 shares of the company's stock, valued at approximately $1,737,363.31. The trade was a 6.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 57,915 shares of company stock valued at $300,000. 0.62% of the stock is currently owned by insiders.

Institutional Trading of Hecla Mining

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ameliora Wealth Management Ltd. acquired a new position in Hecla Mining during the fourth quarter valued at $25,000. GAMMA Investing LLC boosted its stake in shares of Hecla Mining by 771.8% in the fourth quarter. GAMMA Investing LLC now owns 5,013 shares of the basic materials company's stock worth $25,000 after buying an additional 4,438 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Hecla Mining in the fourth quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Hecla Mining during the first quarter worth about $31,000. Finally, Blue Trust Inc. raised its position in Hecla Mining by 30.7% during the fourth quarter. Blue Trust Inc. now owns 8,351 shares of the basic materials company's stock valued at $41,000 after acquiring an additional 1,961 shares in the last quarter. 63.01% of the stock is currently 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.