Hecla Mining (NYSE:HL) Stock Price Down 10.5% After Earnings Miss

Hecla Mining (NYSE:HL - Get Free Report) was down 10.5% during mid-day trading on Friday following a dissappointing earnings announcement. The company traded as low as $4.98 and last traded at $4.90. Approximately 5,201,844 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 13,468,020 shares. The stock had previously closed at $5.47.

The basic materials company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01). Hecla Mining had a return on equity of 3.10% and a net margin of 3.85%. The company had revenue of $261.34 million during the quarter, compared to analysts' expectations of $238.50 million. During the same period in the prior year, the firm earned ($0.01) EPS. Hecla Mining's quarterly revenue was up 37.9% on a year-over-year basis.

Hecla Mining Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 23rd will be paid a $0.0038 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $0.02 dividend on an annualized basis and a yield of 0.31%. Hecla Mining's dividend payout ratio (DPR) is currently 9.09%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HL. National Bank Financial upgraded Hecla Mining to a "hold" rating in a research report on Friday, March 21st. TD Securities dropped their price objective on shares of Hecla Mining from $6.00 to $5.00 and set a "hold" rating on the stock in a research note on Monday. HC Wainwright reiterated a "buy" rating and set a $11.50 target price on shares of Hecla Mining in a report on Friday, February 14th. StockNews.com upgraded Hecla Mining from a "sell" rating to a "hold" rating in a research note on Monday, February 17th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $5.50 price objective (down previously from $7.50) on shares of Hecla Mining in a research note on Monday. Six investment 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. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $7.20.

Insiders Place Their Bets

In other news, CAO Michael L. Clary sold 32,387 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $5.18, for a total value of $167,764.66. Following the transaction, the chief accounting officer now directly owns 246,440 shares in the company, valued at approximately $1,276,559.20. This represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Catherine J. Boggs acquired 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average price of $4.99 per share, with a total value of $99,800.00. Following the acquisition, the director now directly owns 348,169 shares in the company, valued at $1,737,363.31. This represents a 6.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 57,915 shares of company stock valued at $300,000 in the last three months. Corporate insiders own 0.62% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Hecla Mining by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,220,645 shares of the basic materials company's stock worth $35,453,000 after purchasing an additional 502,094 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Hecla Mining in the 4th quarter valued at approximately $1,640,000. JPMorgan Chase & Co. increased its stake in Hecla Mining by 20.3% during the 4th quarter. JPMorgan Chase & Co. now owns 4,189,473 shares of the basic materials company's stock valued at $20,570,000 after purchasing an additional 707,712 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Hecla Mining by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 61,393,040 shares of the basic materials company's stock worth $301,440,000 after buying an additional 774,000 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in shares of Hecla Mining by 202.4% during the fourth quarter. Private Advisor Group LLC now owns 76,151 shares of the basic materials company's stock worth $374,000 after buying an additional 50,969 shares during the period. Institutional investors own 63.01% of the company's stock.

Hecla Mining Stock Down 1.1 %

The business's fifty day moving average price is $5.52 and its two-hundred day moving average price is $5.61. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.55. The stock has a market capitalization of $3.08 billion, a PE ratio of 97.72 and a beta of 1.57.

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.