Hecla Mining Co. (HL) Trading Down 2.4%
Hecla Mining Co. (NYSE:HL)’s share price fell 2.4% during mid-day trading on Wednesday . The company traded as low as $6.73 and last traded at $6.88, with a volume of 6,156,671 shares. The stock had previously closed at $7.05.
A number of research firms have issued reports on HL. Zacks Investment Research raised shares of Hecla Mining from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a report on Monday, July 11th. Deutsche Bank AG lifted their price objective on shares of Hecla Mining from $4.20 to $5.50 and gave the stock a “hold” rating in a report on Tuesday, August 9th. FBR & Co reaffirmed a “market perform” rating and set a $6.00 price objective (up from $5.00) on shares of Hecla Mining in a report on Monday, August 8th. Scotiabank raised shares of Hecla Mining from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $3.75 to $6.15 in a report on Wednesday, July 13th. Finally, JPMorgan Chase & Co. raised shares of Hecla Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price objective on the stock in a report on Tuesday, August 9th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Hecla Mining currently has a consensus rating of “Hold” and a consensus price target of $5.57.
The firm’s market cap is $2.64 billion. The company’s 50 day moving average is $6.31 and its 200-day moving average is $4.14.
Hecla Mining (NYSE:HL) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm earned $171.30 million during the quarter, compared to the consensus estimate of $141.25 million. Hecla Mining’s revenue for the quarter was up 64.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) EPS. On average, analysts anticipate that Hecla Mining Co. will post $0.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Tuesday, August 23rd will be issued a $0.0025 dividend. The ex-dividend date is Friday, August 19th. This represents a $0.01 dividend on an annualized basis and a yield of 0.14%.
In related news, Director Anthony P. Taylor sold 15,000 shares of Hecla Mining stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $7.13, for a total value of $106,950.00. Following the completion of the sale, the director now directly owns 30,000 shares in the company, valued at approximately $213,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lawrence P. Radford sold 100,000 shares of Hecla Mining stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $7.12, for a total value of $712,000.00. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Hecla Mining stock. Rhumbline Advisers increased its position in shares of Hecla Mining Co. (NYSE:HL) by 4.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 544,620 shares of the company’s stock after buying an additional 21,985 shares during the period. Rhumbline Advisers owned about 0.14% of Hecla Mining worth $1,029,000 as of its most recent filing with the SEC.
Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Company and its subsidiaries provide precious and base metals to the United States and around the world. The Company produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver at Greens Creek and Casa Berardi.
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