Hecla Mining (NYSE:HL) Shares Gap Up - Still a Buy?

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 before the market opened 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.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HL. CIBC raised their target price on shares of Hecla Mining from $7.50 to $8.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. BMO Capital Markets lifted their price objective on shares of Hecla Mining from $6.00 to $6.50 and gave the stock a "market perform" rating in a research note on Thursday, August 7th. Roth Capital reiterated a "neutral" rating on shares of Hecla Mining in a research note on Thursday, August 7th. HC Wainwright lifted their price objective on shares of Hecla Mining from $11.50 to $12.50 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, National Bankshares set a $7.00 price objective on shares of Hecla Mining in a research note on Friday, June 13th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $7.36.

Hecla Mining Stock Up 0.6%

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.99 and a current ratio of 2.67. The stock has a market capitalization of $7.52 billion, a P/E ratio of 70.13 and a beta of 1.29. The stock's fifty day simple moving average is $7.26 and its two-hundred day simple moving average is $6.13.

Hecla Mining (NYSE:HL - Get Free Report) last posted its earnings results on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. Hecla Mining had a net margin of 9.55% and a return on equity of 5.51%. The firm had revenue of $304.03 million for the quarter, compared to analyst estimates of $248.93 million. During the same period in the previous year, the firm posted $0.02 EPS. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, research analysts expect that Hecla Mining Company will post 0.21 EPS for the current fiscal 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 paid 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 currently 6.25%.

Institutional Investors Weigh In On Hecla Mining

A number of institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its stake in shares of Hecla Mining by 3.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 61,291 shares of the basic materials company's stock valued at $367,000 after purchasing an additional 1,779 shares during the last quarter. KLP Kapitalforvaltning AS lifted its position in shares of Hecla Mining by 1.5% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 125,800 shares of the basic materials company's stock valued at $754,000 after acquiring an additional 1,900 shares during the period. Focus Partners Advisor Solutions LLC lifted its position in shares of Hecla Mining by 10.9% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 21,657 shares of the basic materials company's stock valued at $120,000 after acquiring an additional 2,135 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Hecla Mining by 13.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,883 shares of the basic materials company's stock valued at $93,000 after acquiring an additional 2,169 shares during the period. Finally, California State Teachers Retirement System lifted its position in shares of Hecla Mining by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 634,481 shares of the basic materials company's stock valued at $3,801,000 after acquiring an additional 2,203 shares during the period. 63.01% of the stock is owned by institutional investors.

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.