Hecla Mining (NYSE:HL) Shares Up 1.9% - Here's What Happened

Key Points

• Hecla Mining's stock rose by 1.9%, trading between $10.98 and $11.10 on recent trading days, accompanied by a substantial increase in trading volume.
• The company reported a 23.8% year-over-year increase in quarterly revenue, totaling $304.03 million, and earnings per share of $0.08, exceeding expectations.
• Hecla Mining recently announced a quarterly dividend of $0.0038 per share, reflecting a 0.1% yield and a payout ratio of 6.25%.

Hecla Mining Company (NYSE:HL - Get Free Report) shot up 1.9% during trading on Friday . The stock traded as high as $11.10 and last traded at $10.98. 145,746,751 shares changed hands during trading, an increase of 555% from the average session volume of 22,249,256 shares. The stock had previously closed at $10.77.

Wall Street Analyst Weigh In

Several research firms have recently commented on HL. Roth Capital restated a "neutral" rating on shares of Hecla Mining in a report on Thursday, August 7th. CIBC boosted their price objective on Hecla Mining from $7.50 to $8.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. National Bank Financial upgraded Hecla Mining to a "hold" rating in a report on Thursday, June 12th. BMO Capital Markets upped their price target on Hecla Mining from $6.00 to $6.50 and gave the stock a "market perform" rating in a report on Thursday, August 7th. Finally, National Bankshares set a $7.00 price target on Hecla Mining in a report on Friday, June 13th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $7.36.

Hecla Mining Stock Performance

The company has a 50-day simple moving average of $7.79 and a two-hundred day simple moving average of $6.34. 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 firm has a market cap of $7.36 billion, a PE ratio of 68.63 and a beta of 1.29.

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

Hecla Mining Dividend Announcement

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

Insiders Place Their Bets

In other Hecla Mining news, VP Stuart Maurice Absolom sold 14,472 shares of the business's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $11.29, for a total value of $163,388.88. Following the transaction, the vice president owned 73,200 shares of the company's stock, valued at approximately $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 accessible through this link. Corporate insiders own 0.62% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. lifted its position in shares of Hecla Mining by 3.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 61,291 shares of the basic materials company's stock valued at $367,000 after buying 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 buying an additional 1,900 shares during the last quarter. 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 buying an additional 2,135 shares during the last quarter. 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 buying an additional 2,169 shares during the last quarter. 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 buying an additional 2,203 shares during the last quarter. 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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