Traders Purchase High Volume of Call Options on Hecla Mining (NYSE:HL)

Key Points

• Hecla Mining experienced a significant increase in call options trading, with 24,211 options acquired, marking a **32% rise** compared to its average daily volume of 18,281.
• The company's VP recently sold 18,926 shares at **$6.66** each, reducing their ownership by **24.16%**, and leaving them with **59,410 shares** valued at approximately **$395,670**.
• Hecla Mining reported earnings of **$0.08 per share** for the quarter, exceeding analysts' expectations, with a revenue increase of **23.8% year-over-year**.

Hecla Mining Company (NYSE:HL - Get Free Report) was the target of some unusual options trading on Tuesday. Investors bought 24,211 call options on the stock. Thisisanincreaseofapproximately32% compared to the average volume of 18,281 call options.

Hecla Mining Price Performance

Shares of Hecla Mining stock traded up $0.11 during midday trading on Friday, hitting $8.96. 2,313,452 shares of the company traded hands, compared to its average volume of 20,906,494. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 56.47 and a beta of 1.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.99 and a current ratio of 2.67. The firm's fifty day moving average price is $6.83 and its 200-day moving average price is $5.96. Hecla Mining has a 12 month low of $4.46 and a 12 month high of $9.12.

Hecla Mining (NYSE:HL - Get Free Report) last announced its earnings results on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. Hecla Mining had a return on equity of 5.51% and a net margin of 9.55%.The firm had revenue of $304.03 million for the quarter, compared to the consensus estimate of $248.93 million. During the same quarter in the previous year, the business earned $0.02 EPS. The company's revenue was up 23.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Hecla Mining will post 0.21 earnings per share for the current year.

Hecla Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.0038 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, August 22nd. Hecla Mining's dividend payout ratio (DPR) is currently 6.25%.

Institutional Investors Weigh In On Hecla Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Transce3nd LLC purchased a new stake in Hecla Mining in the 2nd quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Hecla Mining during the 1st quarter worth approximately $31,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Hecla Mining by 255.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company's stock valued at $37,000 after acquiring 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, DRW Securities LLC acquired a new position in shares of Hecla Mining in the 1st quarter valued at $54,000. Hedge funds and other institutional investors own 63.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. National Bankshares set a $7.00 target price on shares of Hecla Mining in a research report on Friday, June 13th. BMO Capital Markets increased their price objective on shares of Hecla Mining from $6.00 to $6.50 and gave the company a "market perform" rating in a report on Thursday, August 7th. National Bank Financial upgraded shares of Hecla Mining to a "hold" rating in a report on Thursday, June 12th. HC Wainwright increased their target price on shares of Hecla Mining from $11.50 to $12.50 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, 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 report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $7.36.

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.