Hecla Mining (NYSE:HL) Trading Down 1% - What's Next?

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 traded down 1% during trading on Tuesday . The company traded as low as $9.72 and last traded at $10.02. 9,313,698 shares changed hands during trading, a decline of 56% from the average session volume of 21,124,482 shares. The stock had previously closed at $10.12.

Analyst Upgrades and Downgrades

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

Hecla Mining Price Performance

The stock has a 50 day simple moving average of $7.36 and a two-hundred day simple moving average of $6.17. The firm has a market cap of $7.52 billion, a PE ratio of 70.13 and a beta of 1.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.99 and a current ratio of 2.67.

Hecla Mining (NYSE:HL - Get Free Report) last announced 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 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 analyst estimates of $248.93 million. During the same quarter in the previous year, the business earned $0.02 EPS. Hecla Mining's revenue for the quarter was up 23.8% compared to the same quarter last year. Sell-side analysts expect that Hecla Mining Company will post 0.21 earnings per share for the current year.

Hecla Mining Announces Dividend

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

Hedge Funds Weigh In On Hecla Mining

Several institutional investors and hedge funds have recently modified their holdings of the business. Thrivent Financial for Lutherans increased its stake in shares of Hecla Mining by 35.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 344,395 shares of the basic materials company's stock valued at $2,063,000 after purchasing an additional 90,834 shares in the last quarter. Monarch Capital Management Inc. purchased a new position in shares of Hecla Mining in the 2nd quarter valued at about $65,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Hecla Mining in the 2nd quarter valued at about $2,256,000. Marex Group plc purchased a new position in shares of Hecla Mining in the 2nd quarter valued at about $218,000. Finally, Tactive Advisors LLC purchased a new stake in Hecla Mining during the 2nd quarter worth approximately $391,000. 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.