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

Hecla Mining Company (NYSE:HL)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $18.50, but opened at $16.80. Hecla Mining shares last traded at $17.1750, with a volume of 10,414,306 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HL. BMO Capital Markets boosted their price objective on Hecla Mining from $16.00 to $28.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 27th. Roth Mkm set a $13.00 target price on Hecla Mining in a research note on Wednesday, February 18th. Canadian Imperial Bank of Commerce boosted their price target on Hecla Mining from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Scotiabank increased their price target on 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, Canaccord Genuity Group set a $26.50 price target on Hecla Mining in a report on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Hecla Mining currently has an average rating of “Hold” and a consensus target price of $21.63.

Hecla Mining Price Performance

The company has a quick ratio of 2.22, a current ratio of 2.72 and a debt-to-equity ratio of 0.10. The firm has a market cap of $11.60 billion, a P/E ratio of 35.42 and a beta of 1.22. The company has a 50 day moving average of $23.59 and a two-hundred day moving average of $17.69.

Hecla Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Monday, March 9th will be issued a dividend of $0.0038 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Monday, March 9th. Hecla Mining’s dividend payout ratio (DPR) is presently 2.04%.

Insider Activity

In other news, VP Kurt Allen sold 52,219 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $21.91, for a total transaction of $1,144,118.29. Following the completion of the sale, the vice president directly owned 216,641 shares of the company’s stock, valued at $4,746,604.31. This trade represents a 19.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Hecla Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. Transce3nd LLC purchased a new stake in Hecla Mining during the second quarter valued at about $25,000. USA Financial Formulas acquired a new position in Hecla Mining in the 3rd quarter worth approximately $25,000. Lodestone Wealth Management LLC acquired a new position in Hecla Mining in the 4th quarter worth approximately $28,000. Quadrant Capital Group LLC grew its position in Hecla Mining by 74.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 631 shares in the last quarter. Finally, Sittner & Nelson LLC acquired a new stake in Hecla Mining during the 4th quarter valued at $29,000. Institutional investors and hedge funds 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.