Hecla Mining (NYSE:HL) Trading Down 12.1% – Should You Sell?

Hecla Mining Company (NYSE:HL)’s stock price dropped 12.1% during trading on Thursday . The stock traded as low as $20.77 and last traded at $20.8230. Approximately 33,393,561 shares traded hands during mid-day trading, an increase of 17% from the average daily volume of 28,598,150 shares. The stock had previously closed at $23.69.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HL. Scotiabank increased their target price on Hecla Mining from $15.00 to $25.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Wall Street Zen raised Hecla Mining from a “hold” rating to a “buy” rating in a research report on Sunday, November 2nd. Canadian Imperial Bank of Commerce raised their price target on shares of Hecla Mining from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Roth Mkm reiterated a “sell” rating and issued a $16.00 price objective on shares of Hecla Mining in a research note on Tuesday, January 27th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Hecla Mining in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.00.

Hecla Mining Trading Down 12.1%

The firm has a market capitalization of $13.95 billion, a price-to-earnings ratio of 67.17 and a beta of 1.25. The company has a fifty day moving average price of $22.20 and a 200-day moving average price of $15.11. The company has a current ratio of 2.15, a quick ratio of 1.51 and a debt-to-equity ratio of 0.11.

Insider Activity at Hecla Mining

In other news, VP David C. Sienko sold 207,553 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $19.42, for a total transaction of $4,030,679.26. Following the transaction, the vice president owned 906,370 shares in the company, valued at $17,601,705.40. This represents a 18.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Kurt Allen sold 52,219 shares of the firm’s stock in a transaction 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 in the company, valued at $4,746,604.31. This represents a 19.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.62% of the company’s stock.

Institutional Trading of Hecla Mining

Several large investors have recently made changes to their positions in HL. Transce3nd LLC acquired a new position in shares of Hecla Mining during the 2nd quarter valued at about $25,000. USA Financial Formulas bought a new stake in Hecla Mining during the third quarter worth approximately $25,000. Lodestone Wealth Management LLC acquired a new position in Hecla Mining during the fourth quarter valued at approximately $28,000. Sittner & Nelson LLC acquired a new position in Hecla Mining during the fourth quarter valued at approximately $29,000. Finally, UMB Bank n.a. raised its position in shares of Hecla Mining by 2,390.0% in the third quarter. UMB Bank n.a. now owns 2,490 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 2,390 shares during the period. 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.