Hecla Mining (NYSE:HL) Stock Price Down 1% - Time to Sell?

Key Points

• Hecla Mining's stock price has decreased by 1%, trading at approximately $10.02, with a notable decline in trading volume, down 56% from the average.
• Analysts have varied opinions on the stock, with two recommending a "Buy" and five a "Hold," leading to a consensus rating of "Hold" and an average target price of $7.36.
• The company reported better-than-expected quarterly earnings of $0.08 per share, surpassing estimates and showing a 23.8% increase in revenue compared to the previous year.

Hecla Mining Company (NYSE:HL - Get Free Report) shares were down 1% during mid-day trading on Tuesday . The company traded as low as $9.72 and last traded at $10.02. Approximately 9,313,698 shares changed hands during trading, a decline of 56% from the average daily volume of 21,124,482 shares. The stock had previously closed at $10.12.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HL shares. National Bank Financial upgraded Hecla Mining to a "hold" rating in a research report on Thursday, June 12th. CIBC lifted their price target on Hecla Mining from $7.50 to $8.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. National Bankshares set a $7.00 target price on Hecla Mining in a research note on Friday, June 13th. Wall Street Zen raised Hecla Mining from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Roth Capital reissued a "neutral" rating on shares of Hecla Mining in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $7.36.

Hecla Mining Price Performance

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 stock has a market cap of $6.80 billion, a P/E ratio of 63.47 and a beta of 1.29. The firm's fifty day moving average price is $6.98 and its 200-day moving average price is $6.03.

Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. Hecla Mining had a net margin of 9.55% and a return on equity of 5.51%. 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 business posted $0.02 earnings per share. The firm's revenue for the quarter was up 23.8% compared to the same quarter last year. 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 announced 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 dividend on an annualized basis and a yield of 0.1%. Hecla Mining's payout ratio is 6.25%.

Institutional Investors Weigh In On Hecla Mining

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. increased its holdings in Hecla Mining by 3.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 61,291 shares of the basic materials company's stock worth $367,000 after acquiring an additional 1,779 shares in the last quarter. KLP Kapitalforvaltning AS boosted its stake in Hecla Mining by 1.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 125,800 shares of the basic materials company's stock worth $754,000 after purchasing an additional 1,900 shares during the period. Focus Partners Advisor Solutions LLC boosted its stake in Hecla Mining by 10.9% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 21,657 shares of the basic materials company's stock worth $120,000 after purchasing an additional 2,135 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Hecla Mining by 13.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,883 shares of the basic materials company's stock worth $93,000 after purchasing an additional 2,169 shares during the period. Finally, California State Teachers Retirement System boosted its stake in Hecla Mining by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 634,481 shares of the basic materials company's stock worth $3,801,000 after purchasing an additional 2,203 shares during the period. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.