Hecla Mining (NYSE:HL) Shares Up 8.8% - Here's Why

Key Points

• Hecla Mining shares jumped 8.8% to about $19.53, reaching an intraday high of $19.66, despite trading volume falling 77% below its average.
• Analyst sentiment is mixed: Canaccord Genuity upgraded the stock to “buy,” while HC Wainwright cut its price target to $26.75. Overall, analysts rate Hecla a “Hold,” with an average price target of $24.12.
• Hecla’s latest quarterly results missed expectations, with EPS of $0.17 versus $0.18 expected and revenue of $333.85 million versus $368.75 million forecast, although revenue rose 9.8% year over year.

Shares of Hecla Mining Company (NYSE:HL - Get Free Report) shot up 8.8% during trading on Wednesday . The stock traded as high as $19.66 and last traded at $19.5260. Approximately 5,864,056 shares changed hands during trading, a decline of 77% from the average daily volume of 25,359,115 shares. The stock had previously closed at $17.95.

Wall Street Analyst Weigh In

HL has been the topic of several recent analyst reports. HC Wainwright lowered their target price on shares of Hecla Mining from $36.50 to $26.75 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Canaccord Genuity Group raised Hecla Mining from a "hold" rating to a "buy" rating and set a $24.00 price target for the company in a report on Wednesday, April 29th. Weiss Ratings upgraded Hecla Mining from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Zacks Research upgraded Hecla Mining to a "hold" rating in a research report on Friday, July 17th. Finally, Wall Street Zen downgraded Hecla Mining from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $24.12.

Hecla Mining Trading Up 13.7%

The firm's fifty day simple moving average is $15.78 and its two-hundred day simple moving average is $18.31. The company has a market capitalization of $13.71 billion, a price-to-earnings ratio of 41.66 and a beta of 1.32.

Hecla Mining (NYSE:HL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The firm had revenue of $333.85 million for the quarter, compared to analyst estimates of $368.75 million. Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%.The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 EPS. As a group, analysts forecast that Hecla Mining Company will post 0.47 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be paid a dividend of $0.0038 per share. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $0.01 annualized dividend and a yield of 0.1%. Hecla Mining's dividend payout ratio (DPR) is 2.04%.

Hedge Funds Weigh In On Hecla Mining

Several large investors have recently modified their holdings of the business. Quadrant Capital Group LLC raised its holdings in Hecla Mining by 74.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company's stock valued at $28,000 after buying an additional 631 shares during the period. Sittner & Nelson LLC purchased a new position in shares of Hecla Mining during the 4th quarter worth approximately $29,000. Rothschild Investment LLC increased its holdings in Hecla Mining by 93.5% in the 4th quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 781 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Hecla Mining in the fourth quarter valued at approximately $31,000. Finally, CIBC Private Wealth Group LLC lifted its stake in Hecla Mining by 134.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,670 shares of the basic materials company's stock worth $32,000 after purchasing an additional 957 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

About Hecla Mining

Hecla Mining Company, founded in 1891 and headquartered in Coeur d'Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d'Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.

The company's principal operations are located in North America and Latin America.

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