Hecla Mining (NYSE:HL) Shares Gap Up - Here's Why

Key Points

• Hecla Mining's shares gapped up from a previous close of $9.02 to an opening price of $9.45, eventually trading at $9.95 with a volume of over 13 million shares.
• The company reported a 23.8% year-over-year increase in revenue for the latest quarter, with earnings of $0.08 per share, surpassing analysts' expectations of $0.05.
• Hecla Mining announced a quarterly dividend of $0.0038 per share, representing a 0.1% annualized yield and a 6.25% dividend payout ratio.

Hecla Mining Company (NYSE:HL - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $9.02, but opened at $9.45. Hecla Mining shares last traded at $9.95, with a volume of 13,319,042 shares changing hands.

Analysts Set New Price Targets

HL has been the topic of several research reports. National Bank Financial raised Hecla Mining to a "hold" rating in a report on Thursday, June 12th. CIBC raised their target price on shares of Hecla Mining from $7.50 to $8.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Wall Street Zen upgraded shares of Hecla Mining from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. BMO Capital Markets boosted their price objective on shares of Hecla Mining from $6.00 to $6.50 and gave the company a "market perform" rating in a research report on Thursday, August 7th. Finally, Roth Capital reiterated a "neutral" rating on shares of Hecla Mining in a research report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $7.36.

Hecla Mining Price Performance

The company has a quick ratio of 1.99, a current ratio of 2.67 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $6.78 billion, a PE ratio of 63.38 and a beta of 1.29. The firm's 50 day simple moving average is $6.89 and its 200 day simple moving average is $5.99.

Hecla Mining (NYSE:HL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. The company had revenue of $304.03 million during the quarter, compared to the consensus estimate of $248.93 million. Hecla Mining had a return on equity of 5.51% and a net margin of 9.55%.Hecla Mining'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 anticipate that Hecla Mining Company will post 0.21 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders 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 is presently 6.25%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Transce3nd LLC bought a new stake in shares of Hecla Mining during the 2nd quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Hecla Mining during the 1st quarter valued at about $31,000. EverSource Wealth Advisors LLC grew its holdings in shares of Hecla Mining by 255.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company's stock worth $37,000 after acquiring an additional 4,425 shares during the period. Headlands Technologies LLC bought a new stake in shares of Hecla Mining in the 2nd quarter worth $44,000. Finally, DRW Securities LLC bought a new position in Hecla Mining in the 1st quarter worth approximately $54,000. Institutional investors and hedge funds 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.

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