Hecla Mining (NYSE:HL) Trading 12.3% Higher - What's Next?

Key Points

• Hecla Mining's stock surged by 12.3% to $10.13 during trading, with over 15.3 million shares changing hands, marking a 27% decrease from the average volume.
• A series of analysts have raised their price targets for Hecla Mining, with HC Wainwright setting a buy rating and a target of $12.50, while others maintain a neutral stance.
• Hecla Mining reported $0.08 earnings per share for the last quarter, surpassing expectations and showing a 23.8% increase in revenue year-over-year.

Hecla Mining Company (NYSE:HL - Get Free Report)'s share price was up 12.3% during trading on Monday . The company traded as high as $9.99 and last traded at $10.13. Approximately 15,310,698 shares changed hands during trading, a decline of 27% from the average daily volume of 20,979,811 shares. The stock had previously closed at $9.02.

Wall Street Analyst Weigh In

HL has been the topic of a number of recent analyst reports. CIBC increased their price objective on shares of Hecla Mining from $7.50 to $8.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. BMO Capital Markets increased their price target on Hecla Mining from $6.00 to $6.50 and gave the company a "market perform" rating in a research report on Thursday, August 7th. National Bankshares set a $7.00 target price on shares of Hecla Mining in a report on Friday, June 13th. Roth Capital restated a "neutral" rating on shares of Hecla Mining in a research report on Thursday, August 7th. Finally, HC Wainwright boosted their target price on Hecla Mining from $11.50 to $12.50 and gave the stock a "buy" rating in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $7.36.

Hecla Mining Stock Up 12.1%

The stock has a market capitalization of $6.78 billion, a price-to-earnings ratio of 63.22 and a beta of 1.29. The business's 50-day moving average is $6.89 and its two-hundred day moving average is $5.99. 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 for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. The firm had revenue of $304.03 million during the quarter, compared to analysts' expectations of $248.93 million. Hecla Mining had a net margin of 9.55% and a return on equity of 5.51%. Hecla Mining's quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 earnings per share. Equities analysts anticipate that Hecla Mining Company will post 0.21 EPS for the current year.

Hecla Mining Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HL. Transce3nd LLC bought a new position in shares of Hecla Mining in the second quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Hecla Mining in the 1st quarter worth about $31,000. EverSource Wealth Advisors LLC lifted its stake in shares of Hecla Mining by 255.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company's stock worth $37,000 after purchasing an additional 4,425 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Hecla Mining in the 2nd quarter valued at $44,000. Finally, PFG Investments LLC acquired a new stake in Hecla Mining in the 1st quarter valued at about $56,000. 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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