Hecla Mining (NYSE:HL) Shares Down 1.4% – What’s Next?

Shares of Hecla Mining Company (NYSE:HL) fell 1.4% during trading on Wednesday . The stock traded as low as $23.27 and last traded at $23.30. 17,088,572 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 27,445,357 shares. The stock had previously closed at $23.64.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HL shares. Roth Mkm set a $13.00 target price on Hecla Mining in a research note on Wednesday, February 18th. Zacks Research lowered shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, February 13th. Scotiabank increased their price target on shares of Hecla Mining from $15.00 to $25.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. Canaccord Genuity Group set a $26.50 price target on shares of Hecla Mining in a research report on Friday, January 23rd. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of Hecla Mining from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. One equities 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 company. Based on data from MarketBeat.com, Hecla Mining presently has an average rating of “Hold” and a consensus target price of $21.63.

Hecla Mining Trading Down 1.4%

The company’s fifty day simple moving average is $23.07 and its 200-day simple moving average is $16.21. The firm has a market capitalization of $15.62 billion, a PE ratio of 47.55 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Monday, March 9th will be paid a dividend of $0.0038 per share. This represents a $0.02 annualized dividend and a yield of 0.1%. The ex-dividend date is Monday, March 9th. Hecla Mining’s payout ratio is 2.04%.

Insider Buying and Selling

In other news, VP David C. Sienko sold 207,553 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $17,601,705.40. This trade represents a 18.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kurt Allen sold 52,219 shares of Hecla Mining stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $21.91, for a total value of $1,144,118.29. Following the completion of the sale, the vice president directly owned 216,641 shares in the company, valued at $4,746,604.31. This represents a 19.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hecla Mining

A number of hedge funds have recently modified their holdings of the business. Transce3nd LLC acquired a new position in Hecla Mining during the second quarter worth about $25,000. USA Financial Formulas purchased a new position in Hecla Mining in the 3rd quarter worth approximately $25,000. Lodestone Wealth Management LLC acquired a new position in shares of Hecla Mining during the 4th quarter worth approximately $28,000. Quadrant Capital Group LLC grew its position in shares of Hecla Mining by 74.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 631 shares in the last quarter. Finally, Sittner & Nelson LLC acquired a new stake in shares of Hecla Mining in the fourth quarter valued at approximately $29,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.