Hecla Mining Sees Unusually Large Options Volume (NYSE:HL)

Key Points

• On Monday, Hecla Mining experienced a significant increase in options trading, with investors purchasing 43,937 call options, marking an 85% rise above its average daily volume.
• Insider trading was noted as VP Stuart Maurice Absolom sold 14,472 shares for approximately $163,389, reducing their ownership by 16.51% to 73,200 shares.
• Institutional investors have shown increased confidence, with major firms like Vanguard and State Street raising their stakes in Hecla Mining, leading institutional ownership to 63.01% of the company.

Hecla Mining Company (NYSE:HL - Get Free Report) saw unusually large options trading on Monday. Investors acquired 43,937 call options on the stock. This is an increase of approximately 85% compared to the average daily volume of 23,721 call options.

Hecla Mining Trading Up 2.5%

HL stock traded up $0.27 during midday trading on Monday, hitting $11.23. The company had a trading volume of 35,281,779 shares, compared to its average volume of 31,634,838. The company has a current ratio of 2.67, a quick ratio of 1.99 and a debt-to-equity ratio of 0.23. Hecla Mining has a 52 week low of $4.46 and a 52 week high of $11.90. The stock's 50 day moving average price is $7.99 and its 200 day moving average price is $6.43. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 70.19 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 (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $304.03 million for the quarter, compared to analysts' expectations of $248.93 million. Hecla Mining had a return on equity of 5.51% and a net margin of 9.55%.The business's revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 earnings per share. As a group, equities research analysts expect that Hecla Mining will post 0.21 earnings per share for the current fiscal year.

Hecla Mining Announces Dividend

The business also recently declared 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. The ex-dividend date was Friday, August 22nd. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. Hecla Mining's dividend payout ratio (DPR) is presently 6.25%.

Analysts Set New Price Targets

A number of research firms have weighed in on HL. HC Wainwright lifted their target price on Hecla Mining from $11.50 to $12.50 and gave the company a "buy" rating in a report on Thursday, August 7th. Roth Capital reaffirmed a "neutral" rating on shares of Hecla Mining in a report on Thursday, August 7th. Wall Street Zen raised Hecla Mining from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. National Bankshares set a $7.00 target price on Hecla Mining in a report on Friday, June 13th. Finally, CIBC lifted their target price on Hecla Mining from $7.50 to $8.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $7.36.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Hecla Mining

Several institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. lifted its position in shares of Hecla Mining by 10.7% during the 4th quarter. Ameriprise Financial Inc. now owns 25,370 shares of the basic materials company's stock valued at $125,000 after buying an additional 2,457 shares in the last quarter. Quantinno Capital Management LP raised its stake in Hecla Mining by 138.1% during the 4th quarter. Quantinno Capital Management LP now owns 40,313 shares of the basic materials company's stock valued at $198,000 after purchasing an additional 23,381 shares during the period. Two Sigma Advisers LP increased its stake in Hecla Mining by 185.0% in the 4th quarter. Two Sigma Advisers LP now owns 140,853 shares of the basic materials company's stock worth $692,000 after acquiring an additional 91,424 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Hecla Mining by 8.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,578,828 shares of the basic materials company's stock worth $7,752,000 after acquiring an additional 127,756 shares during the last quarter. Finally, Forum Financial Management LP increased its stake in Hecla Mining by 148.8% in the 4th quarter. Forum Financial Management LP now owns 24,940 shares of the basic materials company's stock worth $122,000 after acquiring an additional 14,915 shares during the last quarter. 63.01% of the stock is 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.