Hecla Mining (NYSE:HL) Trading 4.5% Higher - Here's Why

Hecla Mining (NYSE:HL - Get Free Report) shares shot up 4.5% on Monday . The company traded as high as $6.21 and last traded at $6.07. 2,550,581 shares were traded during mid-day trading, a decline of 81% from the average session volume of 13,129,096 shares. The stock had previously closed at $5.81.

Analyst Upgrades and Downgrades

Several research firms have commented on HL. StockNews.com upgraded shares of Hecla Mining from a "sell" rating to a "hold" rating in a research note on Monday, February 17th. National Bank Financial upgraded Hecla Mining to a "hold" rating in a research report on Friday, March 21st. HC Wainwright restated a "buy" rating and issued a $11.50 price objective on shares of Hecla Mining in a research report on Friday, February 14th. Roth Mkm dropped their price objective on Hecla Mining from $6.60 to $6.50 and set a "buy" rating for the company in a research note on Tuesday, February 18th. Finally, TD Securities cut shares of Hecla Mining from a "buy" rating to a "hold" rating and cut their price target for the stock from $6.50 to $5.50 in a research note on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.75.

Hecla Mining Price Performance

The firm has a fifty day moving average price of $5.52 and a two-hundred day moving average price of $5.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.55 and a current ratio of 1.08. The stock has a market capitalization of $3.70 billion, a P/E ratio of 117.02 and a beta of 1.77.

Hecla Mining (NYSE:HL - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01). Hecla Mining had a net margin of 3.85% and a return on equity of 3.10%. The company had revenue of $249.66 million for the quarter, compared to the consensus estimate of $229.21 million. As a group, analysts expect that Hecla Mining will post 0.21 EPS for the current fiscal year.

Hecla Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.0038 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.02 dividend on an annualized basis and a yield of 0.26%. Hecla Mining's dividend payout ratio (DPR) is presently 20.00%.

Insider Activity

In other Hecla Mining news, CEO Robert Krcmarov acquired 6,570 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were purchased at an average cost of $5.29 per share, for a total transaction of $34,755.30. Following the completion of the purchase, the chief executive officer now owns 331,856 shares in the company, valued at approximately $1,755,518.24. This trade represents a 2.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kurt Allen sold 9,195 shares of Hecla Mining stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $5.18, for a total value of $47,630.10. Following the completion of the transaction, the vice president now owns 104,512 shares in the company, valued at $541,372.16. This trade represents a 8.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,915 shares of company stock valued at $300,000. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hecla Mining

A number of institutional investors and hedge funds have recently modified their holdings of the company. MML Investors Services LLC lifted its stake in shares of Hecla Mining by 28.6% in the 3rd quarter. MML Investors Services LLC now owns 13,229 shares of the basic materials company's stock valued at $88,000 after purchasing an additional 2,944 shares during the period. Barclays PLC increased its holdings in Hecla Mining by 317.4% in the third quarter. Barclays PLC now owns 909,811 shares of the basic materials company's stock valued at $6,069,000 after buying an additional 691,862 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Hecla Mining in the third quarter worth about $371,000. Sanctuary Advisors LLC purchased a new stake in shares of Hecla Mining during the 3rd quarter worth about $245,000. Finally, Franklin Resources Inc. boosted its stake in shares of Hecla Mining by 2,757.4% during the 3rd quarter. Franklin Resources Inc. now owns 460,610 shares of the basic materials company's stock worth $3,017,000 after acquiring an additional 444,490 shares in the last quarter. Institutional investors and hedge funds 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.