Hecla Mining (NYSE:HL) Stock Price Down 1.4% – Here’s Why

Hecla Mining Company (NYSE:HL)’s stock price dropped 1.4% during trading on Wednesday . The company traded as low as $23.27 and last traded at $23.30. Approximately 17,088,572 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 27,445,357 shares. The stock had previously closed at $23.64.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HL shares. BMO Capital Markets upped their price objective on Hecla Mining from $16.00 to $28.00 and gave the company a “market perform” rating in a research report on Tuesday, January 27th. HC Wainwright lifted their price target on shares of Hecla Mining from $16.50 to $36.50 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Wall Street Zen raised shares of Hecla Mining from a “hold” rating to a “buy” rating in a research report on Sunday, November 2nd. Roth Mkm set a $13.00 target price on Hecla Mining in a research report on Wednesday, February 18th. Finally, Zacks Research cut Hecla Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 13th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Hecla Mining presently has a consensus rating of “Hold” and an average target price of $21.63.

Hecla Mining Stock Up 1.5%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.22 and a current ratio of 2.72. The company has a market cap of $16.69 billion, a P/E ratio of 50.82 and a beta of 1.25. The business’s fifty day moving average is $23.36 and its two-hundred day moving average is $16.44.

Hecla Mining Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Monday, March 9th will be given a dividend of $0.0038 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. Hecla Mining’s payout ratio is 2.04%.

Insider Buying and Selling at Hecla Mining

In other news, VP Kurt Allen sold 52,219 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $21.91, for a total transaction of $1,144,118.29. Following the transaction, the vice president owned 216,641 shares of the company’s stock, valued at approximately $4,746,604.31. This represents a 19.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David C. Sienko sold 207,553 shares of Hecla Mining stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $19.42, for a total value of $4,030,679.26. Following the completion of the sale, the vice president owned 906,370 shares of the company’s stock, valued at $17,601,705.40. The trade was a 18.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hecla Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Transce3nd LLC bought a new position in shares of Hecla Mining during the 2nd quarter worth approximately $25,000. USA Financial Formulas purchased a new position in Hecla Mining in the third quarter worth $25,000. Lodestone Wealth Management LLC acquired a new position in shares of Hecla Mining during the fourth quarter worth $28,000. Quadrant Capital Group LLC increased its position in shares of Hecla Mining by 74.3% during the fourth 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 in the last quarter. Finally, Sittner & Nelson LLC purchased a new stake in shares of Hecla Mining during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.