Hecla Mining (NYSE:HL) Trading Down 2.1% - Should You Sell?

Key Points

• Hecla Mining's stock price fell 2.1% to $10.93, with trading volume declining by 6% from its average session volume.
• The company reported better-than-expected quarterly earnings of $0.08 per share, surpassing analysts' estimates of $0.05, and achieved a revenue of $304.03 million, which is up 23.8% year-over-year.
• Analysts have mixed ratings on Hecla Mining, with a consensus rating of "Hold" and a target price of $7.36, while two analysts rated it as a Buy.

Hecla Mining Company (NYSE:HL - Get Free Report)'s stock price fell 2.1% on Wednesday . The company traded as low as $10.91 and last traded at $10.93. 21,199,326 shares were traded during trading, a decline of 6% from the average session volume of 22,433,156 shares. The stock had previously closed at $11.17.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HL. Roth Capital restated a "neutral" rating on shares of Hecla Mining in a research report on Thursday, August 7th. National Bank Financial upgraded Hecla Mining to a "hold" rating in a research report on Thursday, June 12th. Wall Street Zen upgraded Hecla Mining from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. CIBC increased their target price on shares of Hecla Mining from $7.50 to $8.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Finally, BMO Capital Markets raised their price objective on Hecla Mining from $6.00 to $6.50 and gave the company a "market perform" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Hecla Mining currently has a consensus rating of "Hold" and an average price target of $7.36.

Hecla Mining Stock Down 2.1%

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 stock has a fifty day moving average price of $8.09 and a two-hundred day moving average price of $6.47. The company has a market cap of $7.33 billion, a P/E ratio of 68.34 and a beta of 1.29.

Hecla Mining (NYSE:HL - Get Free Report) last posted its 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 company 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 revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter last year, the company earned $0.02 earnings per share. On average, research analysts expect that Hecla Mining Company will post 0.21 EPS for the current year.

Hecla Mining Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors 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 yield of 0.1%. The ex-dividend date was Friday, August 22nd. Hecla Mining's dividend payout ratio (DPR) is 6.25%.

Insider Buying and Selling

In related news, VP Stuart Maurice Absolom sold 14,472 shares of Hecla Mining stock in a transaction on Friday, September 12th. The stock was sold at an average price of $11.29, for a total transaction of $163,388.88. Following the sale, the vice president directly owned 73,200 shares in the company, valued at approximately $826,428. This trade represents a 16.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Hecla Mining

Several hedge funds have recently made changes to their positions in HL. Transce3nd LLC purchased a new position in Hecla Mining during the second quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Hecla Mining during the first quarter worth about $31,000. EverSource Wealth Advisors LLC grew its position in Hecla Mining by 255.6% during the second quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company's stock worth $37,000 after buying an additional 4,425 shares in the last quarter. Headlands Technologies LLC purchased a new position in Hecla Mining during the second quarter worth about $44,000. Finally, DRW Securities LLC purchased a new position in Hecla Mining during the first quarter worth about $54,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

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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