Hecla Mining (NYSE:HL) Stock Price Up 6.5% - Time to Buy?

Key Points

• Hecla Mining shares jumped 6.5% to about $20.36, although trading volume was significantly below average. The stock remains above its 50-day and 200-day moving averages.
• Analysts maintain a generally cautious outlook: the consensus rating is “Hold” from nine analysts, with an average price target of $23.82. Recent target changes included Scotiabank lowering its target to $21 and Jefferies initiating coverage with a $22 target.
• Hecla’s latest quarter showed year-over-year revenue growth of 9.8%, but earnings and revenue fell short of estimates. The company declared a quarterly dividend of $0.0038, equivalent to a minimal 0.1% yield.

Hecla Mining Company (NYSE:HL - Get Free Report)'s share price shot up 6.5% during trading on Wednesday . The stock traded as high as $20.33 and last traded at $20.3560. 2,181,252 shares were traded during mid-day trading, a decline of 92% from the average session volume of 25,862,750 shares. The stock had previously closed at $19.11.

Analysts Set New Price Targets

Several research firms recently issued reports on HL. Scotiabank reduced their price target on Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. Jefferies Financial Group began coverage on shares of Hecla Mining in a research report on Thursday, August 20th. They issued a "hold" rating and a $22.00 target price for the company. Weiss Ratings raised shares of Hecla Mining from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Hecla Mining to a "hold" rating in a research note on Friday, July 17th. Finally, Wall Street Zen lowered shares of Hecla Mining from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $23.82.

Hecla Mining Trading Up 6.7%

The company's 50-day moving average is $16.75 and its 200-day moving average is $18.13. The firm has a market cap of $13.69 billion, a price-to-earnings ratio of 41.31 and a beta of 1.38.

Hecla Mining (NYSE:HL - Get Free Report) last announced its quarterly earnings data 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 net margin of 20.84% and a return on equity of 18.91%. The firm had revenue of $333.85 million for the quarter, compared to analyst estimates of $368.75 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts forecast that Hecla Mining Company will post 0.46 EPS for the current year.

Hecla Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be given a $0.0038 dividend. This represents a $0.01 annualized dividend and a yield of 0.1%. The ex-dividend date is Wednesday, August 26th. Hecla Mining's dividend payout ratio is 2.04%.

Institutional Trading of Hecla Mining

Several institutional investors have recently added to or reduced their stakes in HL. Quadrant Capital Group LLC raised its holdings in Hecla Mining by 74.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company's stock worth $28,000 after purchasing an additional 631 shares during the last quarter. Sittner & Nelson LLC bought a new stake in shares of Hecla Mining in the 4th quarter valued at $29,000. Rothschild Investment LLC increased its position in shares of Hecla Mining by 93.5% during the fourth quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company's stock worth $31,000 after buying an additional 781 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Hecla Mining during the fourth quarter worth $31,000. Finally, CIBC Private Wealth Group LLC raised its stake in Hecla Mining by 134.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,670 shares of the basic materials company's stock worth $32,000 after buying an additional 957 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

Hecla Mining Company Profile

Hecla Mining Company, founded in 1891 and headquartered in Coeur d'Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d'Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.

The company's principal operations are located in North America and Latin America.

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