Hecla Mining (NYSE:HL) Stock Price Down 2.5% - Here's Why

Hecla Mining Company (NYSE:HL - Get Free Report) shares traded down 2.5% during trading on Wednesday . The stock traded as low as $5.92 and last traded at $5.93. 7,149,435 shares were traded during mid-day trading, a decline of 53% from the average session volume of 15,091,155 shares. The stock had previously closed at $6.08.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. BMO Capital Markets reiterated a "market perform" rating and issued a $5.50 price objective (down from $7.50) on shares of Hecla Mining in a research report on Monday, May 5th. TD Securities reduced 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, May 5th. National Bank Financial upgraded shares of Hecla Mining to a "hold" rating in a report on Thursday, June 12th. Roth Mkm cut their price objective on shares of Hecla Mining from $6.60 to $6.50 and set a "buy" rating for the company in a report on Tuesday, February 18th. Finally, National Bankshares set a $7.00 target price on shares of Hecla Mining in a research report on Friday, June 13th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $7.10.

Hecla Mining Price Performance

The firm's fifty day moving average price is $5.51 and its 200 day moving average price is $5.47. The firm has a market capitalization of $3.78 billion, a PE ratio of 54.48 and a beta of 1.44. The company has a current ratio of 1.43, a quick ratio of 0.75 and a debt-to-equity ratio of 0.25.

Hecla Mining (NYSE:HL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01). The company had revenue of $261.34 million for the quarter, compared to analyst estimates of $238.50 million. Hecla Mining had a return on equity of 3.87% and a net margin of 7.13%. The business's revenue was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) earnings per share. As a group, equities analysts forecast 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 Tuesday, June 10th. Stockholders of record on Friday, May 23rd were given a dividend of $0.0038 per share. The ex-dividend date was Friday, May 23rd. This represents a $0.02 annualized dividend and a dividend yield of 0.25%. Hecla Mining's dividend payout ratio is presently 9.09%.

Insider Activity at Hecla Mining

In other Hecla Mining news, VP Stuart Maurice Absolom sold 18,926 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $6.66, for a total value of $126,047.16. Following the sale, the vice president now directly owns 59,410 shares of the company's stock, valued at $395,670.60. This trade represents a 24.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Catherine J. Boggs bought 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average cost of $4.99 per share, with a total value of $99,800.00. Following the purchase, the director now directly owns 348,169 shares of the company's stock, valued at approximately $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. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio bought a new position in shares of Hecla Mining in the 1st quarter worth about $188,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Hecla Mining by 24.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,959,276 shares of the basic materials company's stock worth $10,894,000 after buying an additional 380,448 shares during the period. Aristeia Capital L.L.C. bought a new stake in Hecla Mining in the 1st quarter worth approximately $333,000. Goldman Sachs Group Inc. grew its position in shares of Hecla Mining by 20.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,285,345 shares of the basic materials company's stock valued at $23,827,000 after acquiring an additional 739,360 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Hecla Mining by 12.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,124,216 shares of the basic materials company's stock worth $67,411,000 after purchasing an additional 1,366,700 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

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.

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