Hecla Mining (NYSE:HL) Stock Price Up 4.4% - What's Next?

Key Points

• Hecla Mining's stock price rose by 4.4% recently, trading at $10.62 after reaching a high of $10.77, with a noticeable decrease in share volume compared to the average.
• Analysts upgraded Hecla Mining's stock rating to "buy" and "hold," with a current average price target of $7.36, suggesting positive sentiment towards the company's performance.
• The company reported a 23.8% year-over-year revenue increase in its latest earnings, with earnings per share (EPS) of $0.08, exceeding analysts' expectations.

Hecla Mining Company (NYSE:HL - Get Free Report)'s stock price was up 4.4% during mid-day trading on Wednesday . The company traded as high as $10.77 and last traded at $10.62. Approximately 8,741,862 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 21,202,047 shares. The stock had previously closed at $10.18.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HL shares. National Bank Financial upgraded Hecla Mining to a "hold" rating in a research note on Thursday, June 12th. BMO Capital Markets boosted their price objective on shares of Hecla Mining from $6.00 to $6.50 and gave the company a "market perform" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Hecla Mining from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. National Bankshares set a $7.00 target price on shares of Hecla Mining in a report on Friday, June 13th. Finally, Roth Capital reissued a "neutral" rating on shares of Hecla Mining in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Hecla Mining currently has an average rating of "Hold" and an average price target of $7.36.

Hecla Mining Stock Up 7.4%

The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 1.99. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 68.41 and a beta of 1.29. The firm's 50-day simple moving average is $7.06 and its two-hundred day simple moving average is $6.05.

Hecla Mining (NYSE:HL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. The company had revenue of $304.03 million during the quarter, compared to the consensus estimate of $248.93 million. Hecla Mining had a net margin of 9.55% and a return on equity of 5.51%. The company's revenue for the quarter was up 23.8% on a year-over-year basis. During the same period last year, the firm earned $0.02 EPS. Sell-side analysts predict that Hecla Mining Company will post 0.21 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd were given a dividend of $0.0038 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Friday, August 22nd. Hecla Mining's payout ratio is presently 6.25%.

Institutional Investors Weigh In On Hecla Mining

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. grew its stake in Hecla Mining by 10.7% in the 4th quarter. Ameriprise Financial Inc. now owns 25,370 shares of the basic materials company's stock valued at $125,000 after acquiring an additional 2,457 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Hecla Mining during the 4th quarter worth approximately $146,000. Deutsche Bank AG lifted its stake in Hecla Mining by 38.5% in the 4th quarter. Deutsche Bank AG now owns 1,307,305 shares of the basic materials company's stock valued at $6,419,000 after buying an additional 363,554 shares in the last quarter. Ethic Inc. grew its holdings in Hecla Mining by 217.8% during the 4th quarter. Ethic Inc. now owns 70,215 shares of the basic materials company's stock valued at $345,000 after buying an additional 48,119 shares during the last quarter. Finally, Graham Capital Management L.P. grew its holdings in Hecla Mining by 26.9% during the 4th quarter. Graham Capital Management L.P. now owns 180,612 shares of the basic materials company's stock valued at $887,000 after buying an additional 38,331 shares during the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

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.