Hecla Mining (NYSE:HL) Shares Gap Down - Time to Sell?

Key Points

• Hecla Mining shares fell 5.5%, opening at $17.15 versus the prior close of $18.19, and last traded at $17.51.
• Analyst sentiment is broadly neutral: the stock has an average “Hold” rating and a consensus price target of $23.34, though Scotiabank and RBC recently reduced their targets.
• Hecla’s latest quarterly results slightly missed expectations, with EPS of $0.17 versus $0.18 expected and revenue of $333.85 million versus $368.75 million forecast; revenue nevertheless rose 9.8% year over year.

Hecla Mining Company (NYSE:HL - Get Free Report)'s share price gapped down before the market opened on Monday. The stock had previously closed at $18.19, but opened at $17.15. Hecla Mining shares last traded at $17.51, with a volume of 2,232,259 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HL. Scotiabank decreased their target price on Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 14th. Jefferies Financial Group assumed coverage on Hecla Mining in a report on Thursday, August 20th. They set a "hold" rating and a $22.00 price target for the company. Weiss Ratings raised Hecla Mining from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, September 8th. Royal Bank Of Canada decreased their price objective on Hecla Mining from $24.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday, September 16th. Finally, Zacks Research upgraded Hecla Mining to a "hold" rating in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $23.34.

Hecla Mining Trading Down 5.5%

The firm's 50-day moving average price is $18.18 and its 200-day moving average price is $17.73. The stock has a market capitalization of $11.55 billion, a PE ratio of 35.14 and a beta of 1.38.

Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%.The company had revenue of $333.85 million during the quarter, compared to analysts' expectations of $368.75 million. During the same quarter in the prior year, the business posted $0.09 EPS. The company's revenue was up 9.8% on a year-over-year basis. On average, equities research analysts predict that Hecla Mining Company will post 0.46 earnings per share for the current fiscal year.

Hecla Mining Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th were issued a $0.0037 dividend. The ex-dividend date was Wednesday, August 26th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.1%. Hecla Mining's payout ratio is 2.04%.

Hedge Funds Weigh In On Hecla Mining

Large investors have recently modified their holdings of the stock. Bullseye Investment Management LLC bought a new stake in Hecla Mining in the second quarter worth $42,000. WINTON GROUP Ltd bought a new position in Hecla Mining during the second quarter valued at $701,000. Integrated Wealth Concepts LLC increased its position in Hecla Mining by 48.8% during the second quarter. Integrated Wealth Concepts LLC now owns 39,792 shares of the basic materials company's stock valued at $614,000 after acquiring an additional 13,042 shares during the last quarter. RFG Advisory LLC increased its position in Hecla Mining by 15.8% during the second quarter. RFG Advisory LLC now owns 98,162 shares of the basic materials company's stock valued at $1,515,000 after acquiring an additional 13,395 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Hecla Mining by 1,188.7% in the second quarter. NewEdge Advisors LLC now owns 432,889 shares of the basic materials company's stock valued at $6,679,000 after acquiring an additional 399,298 shares during the period. Institutional investors own 63.01% of the company's stock.

Hecla Mining Company Profile

Hecla Mining Company NYSE: HL is a precious and base metals mining company focused primarily on the exploration, development, and production of silver, gold, lead, and zinc. The company sells concentrates and refined metals produced from its mining operations and also maintains a portfolio of exploration and development properties.

Founded in 1891, Hecla is one of the oldest U.S.-based mining companies. Its operating portfolio has included the Greens Creek silver, gold, lead, and zinc mine near Juneau, Alaska; the Lucky Friday silver, lead, and zinc mine in Idaho; the Keno Hill silver district in Yukon, Canada; and the Casa Berardi gold mine in Quebec, Canada.

Through these operations and related exploration activities, Hecla serves the North American metals market, with production and mineral assets located in the United States and Canada.

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