Hecla Mining (HL) Shares Gap Down to $2.42

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Hecla Mining (NYSE:HL) gapped down prior to trading on Thursday . The stock had previously closed at $2.49, but opened at $2.42. Hecla Mining shares last traded at $2.33, with a volume of 3043464 shares.

HL has been the topic of a number of recent research reports. ValuEngine cut shares of Hecla Mining from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Royal Bank of Canada downgraded shares of Hecla Mining from a “sector perform” rating to an “underperform” rating and dropped their target price for the stock from $46.00 to $2.45 in a research note on Thursday, January 17th. Canaccord Genuity upgraded shares of Hecla Mining from a “hold” rating to a “buy” rating and upped their target price for the stock from $2.75 to $3.25 in a research note on Tuesday, January 8th. Zacks Investment Research upgraded shares of Hecla Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $5.50 target price on shares of Hecla Mining in a research note on Wednesday, January 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Hecla Mining presently has an average rating of “Hold” and an average price target of $4.28.

The company has a market capitalization of $1.15 billion, a PE ratio of -21.18 and a beta of 0.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.56 and a current ratio of 1.21.

Hecla Mining (NYSE:HL) last issued its earnings results on Thursday, February 21st. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $136.50 million during the quarter, compared to the consensus estimate of $148.84 million. Hecla Mining had a negative return on equity of 2.13% and a negative net margin of 4.68%. The company’s quarterly revenue was down 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) EPS. As a group, equities analysts expect that Hecla Mining will post -0.01 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, March 5th were paid a $0.0025 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.01 annualized dividend and a dividend yield of 0.43%. Hecla Mining’s dividend payout ratio is presently -9.09%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Brookstone Capital Management bought a new position in Hecla Mining during the fourth quarter valued at approximately $27,000. Strategic Family Wealth Counselors L.L.C. bought a new position in Hecla Mining during the fourth quarter valued at approximately $34,000. Timber Hill LLC bought a new position in Hecla Mining during the fourth quarter valued at approximately $35,000. Sigma Planning Corp lifted its position in Hecla Mining by 22.7% during the fourth quarter. Sigma Planning Corp now owns 20,022 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 3,705 shares during the period. Finally, Clean Yield Group lifted its position in Hecla Mining by 59.9% during the fourth quarter. Clean Yield Group now owns 26,700 shares of the basic materials company’s stock valued at $63,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 60.57% of the company’s stock.

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Hecla Mining Company Profile (NYSE:HL)

Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal properties worldwide. The company offers lead, zinc, and bulk flotation concentrates to custom smelters and brokers; and unrefined gold and silver bullion bars to precious metals traders.

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