Hecla Mining (NYSE:HL) Trading Up 8.8% – Here’s Why

Hecla Mining Company (NYSE:HL)’s share price shot up 8.8% during mid-day trading on Wednesday . The company traded as high as $19.66 and last traded at $19.5260. 5,864,056 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 25,359,115 shares. The stock had previously closed at $17.95.

More Hecla Mining News

Here are the key news stories impacting Hecla Mining this week:

• Positive Sentiment: Gold and silver prices rose during the week, lifting precious-metals miners. A reported Treasury Department buyback plan appears to have pressured bond-market yields and further supported demand for precious metals, helping Hecla shares surge in the prior session. Hecla Mining and Coeur Mining Spike 13% as Treasury Buyback Plan Ignites Precious Metals Rally
• Positive Sentiment: Hecla’s stock is viewed as trading at a discount to its historical valuation, potentially making it attractive to investors seeking leveraged exposure to higher silver and gold prices. Why Hecla Mining Stock Is Soaring This Week
• Positive Sentiment: Unusually strong options activity added to bullish sentiment: traders bought 40,568 call options, about 33% above the stock’s average daily call volume.
• Positive Sentiment: A GuruFocus analysis noted that HL shares had gained 14.4% and assigned the company a GF Score of 69, indicating comparatively solid fundamental and valuation characteristics. Hecla Mining Co Shares Surge 14.4%
• Neutral Sentiment: Analysts’ average rating remains “Hold,” suggesting that while the commodity-price outlook has improved, Wall Street is not broadly endorsing aggressive upside expectations. Hecla Mining Receives Average Rating of Hold
• Negative Sentiment: Hecla’s latest quarterly results slightly missed earnings expectations, while revenue also came in below consensus, highlighting execution and valuation risks if precious-metals prices retreat.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Scotiabank decreased their target price on shares of Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Jefferies Financial Group assumed coverage on shares of Hecla Mining in a report on Thursday. They set a “hold” rating and a $22.00 price target on the stock. Zacks Research raised shares of Hecla Mining to a “hold” rating in a research report on Friday, July 17th. Canaccord Genuity Group upgraded shares of Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Wednesday, April 29th. Finally, HC Wainwright lowered their price objective on Hecla Mining from $36.50 to $26.75 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.82.

Hecla Mining Trading Up 1.6%

The firm has a fifty day moving average of $16.03 and a 200 day moving average of $18.26. The company has a market capitalization of $14.02 billion, a P/E ratio of 42.59 and a beta of 1.32.

Hecla Mining (NYSE:HL) last posted its earnings results on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $333.85 million for the quarter, compared to the consensus estimate of $368.75 million. Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%. Hecla Mining’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 EPS. Sell-side analysts anticipate that Hecla Mining Company will post 0.47 EPS for the current fiscal year.

Hecla Mining Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be given a dividend of $0.0038 per share. The ex-dividend date is Wednesday, August 26th. This represents a $0.01 dividend on an annualized basis and a yield of 0.1%. Hecla Mining’s dividend payout ratio is 2.04%.

Institutional Investors Weigh In On Hecla Mining

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in 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 valued at $23,827,000 after buying an additional 739,360 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Hecla Mining by 24.1% during the 1st 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 buying an additional 380,448 shares during the period. Cetera Investment Advisers boosted its stake in shares of Hecla Mining by 10.9% in the 2nd quarter. Cetera Investment Advisers now owns 65,536 shares of the basic materials company’s stock worth $393,000 after buying an additional 6,450 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Hecla Mining by 71.6% in the 2nd quarter. Prudential Financial Inc. now owns 78,395 shares of the basic materials company’s stock worth $435,000 after buying an additional 32,714 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Hecla Mining by 1.8% in the second quarter. Russell Investments Group Ltd. now owns 153,867 shares of the basic materials company’s stock worth $922,000 after acquiring an additional 2,793 shares during the period. 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.