Hecla Mining (NYSE:HL) Stock Price Up 5.2% – Here’s Why

Hecla Mining Company (NYSE:HL)’s share price shot up 5.2% during mid-day trading on Friday . The stock traded as high as $24.06 and last traded at $23.98. 33,266,686 shares were traded during trading, an increase of 18% from the average session volume of 28,078,551 shares. The stock had previously closed at $22.79.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on HL shares. Zacks Research lowered shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, February 13th. Canadian Imperial Bank of Commerce upped their target price on shares of Hecla Mining from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Roth Mkm set a $13.00 target price on Hecla Mining in a research note on Wednesday. HC Wainwright lifted their price target on Hecla Mining from $16.50 to $36.50 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Finally, BMO Capital Markets upped their price objective on Hecla Mining from $16.00 to $28.00 and gave the stock a “market perform” rating in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hecla Mining currently has a consensus rating of “Hold” and a consensus price target of $21.63.

Hecla Mining Price Performance

The firm’s 50 day simple moving average is $22.77 and its two-hundred day simple moving average is $15.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.72 and a quick ratio of 1.51. The firm has a market capitalization of $16.07 billion, a P/E ratio of 48.94 and a beta of 1.25.

Hecla Mining Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Monday, March 9th will be given a dividend of $0.0038 per share. This represents a $0.02 annualized dividend and a yield of 0.1%. The ex-dividend date is Monday, March 9th. Hecla Mining’s dividend payout ratio (DPR) is presently 2.04%.

Insider Buying and Selling

In other Hecla Mining news, VP Kurt Allen sold 52,219 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $21.91, for a total value of $1,144,118.29. Following the completion of the sale, the vice president owned 216,641 shares in the company, valued at approximately $4,746,604.31. The trade was a 19.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David C. Sienko sold 207,553 shares of Hecla Mining stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $19.42, for a total transaction of $4,030,679.26. Following the completion of the transaction, the vice president directly owned 906,370 shares in the company, valued at approximately $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 owned by insiders.

Hedge Funds Weigh In On Hecla Mining

A number of hedge funds have recently modified their holdings of HL. Transce3nd LLC purchased a new stake in shares of Hecla Mining during the second quarter worth about $25,000. USA Financial Formulas bought a new position in Hecla Mining during the 3rd quarter valued at approximately $25,000. Lodestone Wealth Management LLC bought a new position in Hecla Mining during the 4th quarter valued at approximately $28,000. Quadrant Capital Group LLC lifted its holdings in Hecla Mining by 74.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company’s stock worth $28,000 after buying an additional 631 shares during the period. Finally, Sittner & Nelson LLC bought a new stake in shares of Hecla Mining in the 4th quarter worth approximately $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.