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

Key Points

• Hecla Mining's shares gapped up from $11.95 to $12.41 before opening, reflecting strong market interest, with recent trading at $12.51.
• Analysts have given mixed ratings, with two Buy ratings, five Holds, and one Sell, while HC Wainwright raised their price target to $12.50.
• The company reported a quarterly earnings of $0.08 per share, exceeding expectations, alongside a significant revenue increase of 23.8% year-over-year.

Hecla Mining Company (NYSE:HL - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $11.95, but opened at $12.41. Hecla Mining shares last traded at $12.51, with a volume of 3,309,161 shares.

Wall Street Analyst Weigh In

HL has been the subject of a number of recent analyst reports. HC Wainwright raised their price objective on Hecla Mining from $11.50 to $12.50 and gave the stock a "buy" rating in a research report on Thursday, August 7th. BMO Capital Markets raised their price objective on Hecla Mining from $6.00 to $6.50 and gave the stock a "market perform" rating in a research report on Thursday, August 7th. National Bankshares set a $7.00 target price on Hecla Mining in a research report on Friday, June 13th. Wall Street Zen raised Hecla Mining from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hecla Mining in a research report on Saturday, September 27th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Hecla Mining has an average rating of "Hold" and a consensus target price of $7.75.

Hecla Mining Stock Up 7.8%

The business's 50 day moving average is $9.25 and its 200-day moving average is $6.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 1.99. The company has a market cap of $8.63 billion, a PE ratio of 80.47 and a beta of 1.31.

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 the consensus estimate of $0.05 by $0.03. The firm had revenue of $304.03 million during the quarter, compared to analysts' expectations of $248.93 million. Hecla Mining had a return on equity of 5.51% and a net margin of 9.55%.The firm's revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 earnings per share. As a group, analysts predict that Hecla Mining Company will post 0.21 EPS for the current year.

Hecla Mining Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 22nd were paid a dividend of $0.0038 per share. The ex-dividend date was Friday, August 22nd. This represents a $0.02 annualized dividend and a yield of 0.1%. Hecla Mining's payout ratio is presently 6.25%.

Insiders Place Their Bets

In related news, VP Stuart Maurice Absolom sold 14,472 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was 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 in the company, valued at $826,428. The trade was a 16.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hecla Mining

Several institutional investors have recently added to or reduced their stakes in the business. Transce3nd LLC purchased a new stake in Hecla Mining in the second quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Hecla Mining in the first quarter valued at approximately $31,000. EverSource Wealth Advisors LLC lifted its stake in Hecla Mining by 255.6% in the second quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company's stock valued at $37,000 after buying an additional 4,425 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Hecla Mining in the second quarter valued at approximately $44,000. Finally, DRW Securities LLC purchased a new stake in Hecla Mining in the first quarter valued at approximately $54,000. 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.

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