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

Key Points

• Hecla Mining's share price gapped up from $8.51 to $8.85 before trading at $8.75, indicating strong market interest with a volume of 4,944,930 shares.
• The company reported earnings per share of $0.08 for the last quarter, surpassing the consensus estimate, and achieved a year-over-year revenue increase of 23.8% to $304.03 million.
• A quarterly dividend of $0.0038 has been declared, with an annual yield of 0.2%, reinforcing the firm's commitment to returning value to its shareholders.

Shares of Hecla Mining Company (NYSE:HL - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $8.51, but opened at $8.85. Hecla Mining shares last traded at $8.75, with a volume of 4,944,930 shares traded.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HL. HC Wainwright raised their target price on Hecla Mining from $11.50 to $12.50 and gave the company a "buy" rating in a research note on Thursday, August 7th. Wall Street Zen raised Hecla Mining from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. National Bank Financial raised Hecla Mining to a "hold" rating in a report on Thursday, June 12th. CIBC boosted their price objective on Hecla Mining from $7.50 to $8.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Finally, BMO Capital Markets raised their price target 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. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Hecla Mining has an average rating of "Hold" and a consensus target price of $7.36.

Hecla Mining Stock Up 1.2%

The firm's 50 day simple moving average is $6.83 and its two-hundred day simple moving average is $5.96. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 56.47 and a beta of 1.29. The company has a current ratio of 2.67, a quick ratio of 1.99 and a debt-to-equity ratio of 0.23.

Hecla Mining (NYSE:HL - Get Free Report) last posted its 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 return on equity of 5.51% and a net margin of 9.55%.The firm had revenue of $304.03 million during the quarter, compared to the consensus estimate of $248.93 million. During the same period last year, the company earned $0.02 earnings per share. The business's quarterly revenue was up 23.8% on a year-over-year basis. On average, equities analysts forecast that Hecla Mining Company will post 0.21 EPS for the current year.

Hecla Mining Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Friday, August 22nd were issued a $0.0038 dividend. The ex-dividend date was Friday, August 22nd. This represents a $0.02 annualized dividend and a yield of 0.2%. Hecla Mining's dividend payout ratio is presently 6.25%.

Institutional Investors Weigh In On Hecla Mining

Hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank bought a new stake in shares of Hecla Mining during the first quarter valued at approximately $2,964,000. Martingale Asset Management L P purchased a new position in shares of Hecla Mining during the first quarter valued at approximately $187,000. Vanguard Group Inc. boosted its stake in shares of Hecla Mining by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 62,830,935 shares of the basic materials company's stock worth $349,340,000 after buying an additional 1,437,895 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Hecla Mining by 8.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,578,828 shares of the basic materials company's stock worth $7,752,000 after purchasing an additional 127,756 shares during the last quarter. Finally, Pale Fire Capital SE purchased a new position in shares of Hecla Mining during the 1st quarter valued at $41,360,000. Institutional investors own 63.01% of the company's stock.

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.