Hecla Mining (NYSE:HL) Shares Down 11.9% – What’s Next?

Shares of Hecla Mining Company (NYSE:HL) fell 11.9% on Tuesday . The company traded as low as $20.49 and last traded at $21.71. 29,881,177 shares were traded during mid-day trading, an increase of 10% from the average session volume of 27,165,365 shares. The stock had previously closed at $24.63.

Analyst Ratings Changes

HL has been the subject of several research reports. Canaccord Genuity Group set a $26.50 price objective on shares of Hecla Mining in a research report on Friday, January 23rd. Roth Mkm set a $13.00 price target on shares of Hecla Mining in a research note on Wednesday, February 18th. Zacks Research cut Hecla Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 13th. HC Wainwright raised their target price on shares of Hecla Mining from $16.50 to $36.50 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Hecla Mining in a research report on Monday, December 29th. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.63.

Hecla Mining Stock Down 11.9%

The firm has a market cap of $14.55 billion, a price-to-earnings ratio of 44.31 and a beta of 1.25. The business has a fifty day simple moving average of $23.44 and a 200 day simple moving average of $16.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.72 and a quick ratio of 2.22.

Hecla Mining Dividend Announcement

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

Insider Transactions at Hecla Mining

In other news, VP David C. Sienko sold 207,553 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president directly owned 906,370 shares in the company, valued at approximately $17,601,705.40. This represents a 18.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Kurt Allen sold 52,219 shares of the company’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 transaction of $1,144,118.29. Following the sale, the vice president owned 216,641 shares in the company, valued at $4,746,604.31. The trade was a 19.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its stake in shares of Hecla Mining by 20.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,285,345 shares of the basic materials company’s stock worth $23,827,000 after buying an additional 739,360 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Hecla Mining by 24.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,959,276 shares of the basic materials company’s stock valued at $10,894,000 after acquiring an additional 380,448 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Hecla Mining during the second quarter worth about $71,000. Y Intercept Hong Kong Ltd acquired a new position in Hecla Mining in the 2nd quarter valued at $757,000. Finally, TIAA Trust National Association boosted its stake in Hecla Mining by 176.4% in the 2nd quarter. TIAA Trust National Association now owns 41,519 shares of the basic materials company’s stock worth $249,000 after buying an additional 26,499 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

About Hecla Mining

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.