Hecla Mining (NYSE:HL) Shares Down 1.4% – Here’s Why

Hecla Mining Company (NYSE:HL) traded down 1.4% during mid-day trading on Tuesday . The company traded as low as $22.45 and last traded at $23.6470. 18,221,967 shares were traded during trading, a decline of 34% from the average session volume of 27,730,848 shares. The stock had previously closed at $23.99.

Wall Street Analyst Weigh In

HL has been the topic of a number of recent research reports. Canaccord Genuity Group set a $26.50 target price on Hecla Mining in a research report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Hecla Mining in a research note on Monday, December 29th. Roth Mkm set a $13.00 price objective on Hecla Mining in a report on Wednesday, February 18th. Scotiabank lifted their price objective on shares of Hecla Mining from $15.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Finally, Zacks Research cut Hecla Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 13th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $21.63.

Hecla Mining Stock Down 1.4%

The firm’s fifty day moving average price is $22.98 and its two-hundred day moving average price is $16.10. The stock has a market cap of $15.85 billion, a price-to-earnings ratio of 48.26 and a beta of 1.25. 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Monday, March 9th will be paid a dividend of $0.0038 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Monday, March 9th. Hecla Mining’s payout ratio is presently 2.04%.

Insider Activity

In other news, VP Kurt Allen sold 52,219 shares of Hecla Mining stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $21.91, for a total value of $1,144,118.29. Following the completion of the transaction, the vice president owned 216,641 shares in the company, valued at $4,746,604.31. This trade represents a 19.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David C. Sienko sold 207,553 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $19.42, for a total value of $4,030,679.26. Following the transaction, the vice president owned 906,370 shares of the company’s stock, 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. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Transce3nd LLC purchased a new stake in shares of Hecla Mining during the 2nd quarter valued at about $25,000. USA Financial Formulas purchased a new position in Hecla Mining during the 3rd quarter valued at approximately $25,000. Lodestone Wealth Management LLC purchased a new stake in Hecla Mining during the fourth quarter valued at $28,000. Quadrant Capital Group LLC lifted its holdings in shares of 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 valued at $28,000 after acquiring an additional 631 shares during the last quarter. Finally, Sittner & Nelson LLC bought a new stake in shares of Hecla Mining in the 4th quarter valued at approximately $29,000. Hedge funds and other 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.