Hecla Mining (NYSE:HL) Trading 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.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HL shares. National Bankshares set a $7.00 price objective on Hecla Mining in a research report on Friday, June 13th. Wall Street Zen raised Hecla Mining from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. CIBC upped their target price on Hecla Mining from $7.50 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Roth Capital reaffirmed a "neutral" rating on shares of Hecla Mining in a report on Thursday, August 7th. Finally, HC Wainwright increased their price target on Hecla Mining from $11.50 to $12.50 and gave the company a "buy" rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Hecla Mining presently has an average rating of "Hold" and an average target price of $7.36.

Hecla Mining Stock Up 0.6%

The firm has a 50 day moving average of $7.36 and a 200 day moving average of $6.18. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 70.13 and a beta of 1.29. The company has a quick ratio of 1.99, a current ratio of 2.67 and a debt-to-equity ratio of 0.23.

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 (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $304.03 million for the quarter, compared to analyst estimates of $248.93 million. Hecla Mining had a return on equity of 5.51% and a net margin of 9.55%.The company's quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share. As a group, sell-side analysts predict that Hecla Mining Company will post 0.21 earnings per share for the current year.

Hecla Mining Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HL. Ameriprise Financial Inc. lifted its holdings in shares of Hecla Mining by 10.7% in the fourth quarter. Ameriprise Financial Inc. now owns 25,370 shares of the basic materials company's stock valued at $125,000 after purchasing an additional 2,457 shares in the last quarter. Deutsche Bank AG increased its position in shares of Hecla Mining by 38.5% during the fourth quarter. Deutsche Bank AG now owns 1,307,305 shares of the basic materials company's stock valued at $6,419,000 after acquiring an additional 363,554 shares during the last quarter. Ethic Inc. increased its position in shares of Hecla Mining by 217.8% during the fourth quarter. Ethic Inc. now owns 70,215 shares of the basic materials company's stock valued at $345,000 after acquiring an additional 48,119 shares during the last quarter. Man Group plc increased its position in shares of Hecla Mining by 349.4% during the fourth quarter. Man Group plc now owns 735,420 shares of the basic materials company's stock valued at $3,611,000 after acquiring an additional 571,761 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Hecla Mining by 138.1% during the fourth quarter. Quantinno Capital Management LP now owns 40,313 shares of the basic materials company's stock valued at $198,000 after acquiring an additional 23,381 shares during the last quarter. 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.