Hecla Mining (NYSE:HL) Stock Price Down 2.3% - Here's Why

Hecla Mining (NYSE:HL - Get Free Report) traded down 2.3% during mid-day trading on Tuesday . The company traded as low as $5.82 and last traded at $5.81. 7,887,986 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 13,176,964 shares. The stock had previously closed at $5.94.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HL. HC Wainwright reiterated a "buy" rating and issued a $11.50 price target on shares of Hecla Mining in a research report on Friday, February 14th. TD Securities downgraded Hecla Mining from a "buy" rating to a "hold" rating and cut their target price for the company from $6.50 to $5.50 in a research report on Tuesday, March 11th. Roth Mkm decreased their price target on Hecla Mining from $6.60 to $6.50 and set a "buy" rating on the stock in a research report on Tuesday, February 18th. National Bank Financial upgraded shares of Hecla Mining to a "hold" rating in a research note on Friday, March 21st. Finally, StockNews.com raised shares of Hecla Mining from a "sell" rating to a "hold" rating in a report on Monday, February 17th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $7.75.

Hecla Mining Trading Down 0.5 %

The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 117.02 and a beta of 1.77. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 0.25. The business's 50 day moving average price is $5.52 and its two-hundred day moving average price is $5.68.

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

Hecla Mining Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a $0.0038 dividend. This represents a $0.02 annualized dividend and a yield of 0.26%. The ex-dividend date was Monday, March 10th. Hecla Mining's dividend payout ratio is currently 20.00%.

Insider Buying and Selling at Hecla Mining

In related news, VP Kurt Allen sold 9,195 shares of the stock in a transaction that occurred on 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 sale, the vice president now directly owns 104,512 shares of the company's stock, valued at approximately $541,372.16. This represents a 8.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert Krcmarov purchased 6,570 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was purchased at an average price of $5.29 per share, with a total value of $34,755.30. Following the completion of the transaction, the chief executive officer now owns 331,856 shares of the company's stock, valued at approximately $1,755,518.24. This trade represents a 2.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 57,915 shares of company stock worth $300,000. Insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

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