Hecla Mining (NYSE:HL) Stock Price Down 1.6% – Here’s Why

Hecla Mining Company (NYSE:HL)’s stock price was down 1.6% during mid-day trading on Friday . The stock traded as low as $19.90 and last traded at $20.46. Approximately 16,956,870 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 26,555,719 shares. The stock had previously closed at $20.80.

Analyst Ratings Changes

Several 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 note on Tuesday, January 27th. HC Wainwright lifted their target price on Hecla Mining from $16.50 to $36.50 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Zacks Research lowered Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, February 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Hecla Mining in a research note on Monday, December 29th. Finally, Canadian Imperial Bank of Commerce lifted their price objective 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. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $21.63.

Hecla Mining Stock Performance

The firm has a market cap of $13.72 billion, a price-to-earnings ratio of 41.76 and a beta of 1.22. The stock has a 50 day moving average of $23.53 and a 200 day moving average of $17.00. The company has a quick ratio of 2.22, a current ratio of 2.72 and a debt-to-equity ratio of 0.10.

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 issued a $0.0038 dividend. This represents a $0.02 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Monday, March 9th. Hecla Mining’s dividend payout ratio (DPR) is currently 2.04%.

Insider Activity at Hecla Mining

In related news, VP David C. Sienko sold 207,553 shares of Hecla Mining 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 of the company’s stock, valued at $17,601,705.40. This trade represents a 18.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kurt Allen sold 52,219 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.62% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hecla Mining

Hedge funds and other institutional investors have recently modified their holdings of the business. Transce3nd LLC bought a new stake in shares of Hecla Mining during the 2nd quarter worth $25,000. USA Financial Formulas acquired a new stake in Hecla Mining in the third quarter valued at about $25,000. Lodestone Wealth Management LLC bought a new position in Hecla Mining in the fourth quarter valued at about $28,000. Quadrant Capital Group LLC grew its position in Hecla Mining by 74.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 631 shares during the last quarter. Finally, Sittner & Nelson LLC acquired a new position in Hecla Mining during the fourth quarter worth about $29,000. Institutional investors own 63.01% of the company’s stock.

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.