Hecla Mining (NYSE:HL) Stock Price Up 5.2% – Here’s Why

Hecla Mining Company (NYSE:HL) shot up 5.2% on Thursday . The stock traded as high as $24.61 and last traded at $24.52. 20,068,696 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 27,252,895 shares. The stock had previously closed at $23.31.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Roth Mkm set a $13.00 target price on shares of Hecla Mining in a report on Wednesday, February 18th. BMO Capital Markets raised their price target on shares of Hecla Mining from $16.00 to $28.00 and gave the company a “market perform” rating in a research report on Tuesday, January 27th. Canaccord Genuity Group set a $26.50 price target on shares of Hecla Mining in a research report on Friday, January 23rd. HC Wainwright raised their price target on shares of Hecla Mining from $16.50 to $36.50 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Finally, Zacks Research cut Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Hecla Mining presently has a consensus rating of “Hold” and an average price target of $21.63.

Hecla Mining Stock Performance

The stock has a fifty day moving average price of $23.36 and a 200-day moving average price of $16.44. The company has a current ratio of 2.72, a quick ratio of 2.22 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $16.69 billion, a price-to-earnings ratio of 50.82 and a beta of 1.25.

Hecla Mining Announces Dividend

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

Insiders Place Their Bets

In other news, VP Kurt Allen sold 52,219 shares of Hecla Mining stock in a transaction 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 of the company’s stock, valued at approximately $4,746,604.31. This trade represents a 19.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David C. Sienko sold 207,553 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $19.42, for a total value of $4,030,679.26. Following the completion of the transaction, the vice president owned 906,370 shares in the company, valued at approximately $17,601,705.40. This represents a 18.63% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.62% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hecla Mining

A number of hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in shares of Hecla Mining by 20.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,285,345 shares of the basic materials company’s stock valued at $23,827,000 after purchasing an additional 739,360 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Hecla Mining by 24.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,959,276 shares of the basic materials company’s stock valued at $10,894,000 after buying an additional 380,448 shares in the last quarter. CWM LLC boosted its holdings in shares of Hecla Mining by 18.0% in the second quarter. CWM LLC now owns 26,850 shares of the basic materials company’s stock valued at $161,000 after buying an additional 4,091 shares during the period. Wealthfront Advisers LLC acquired a new position in shares of Hecla Mining in the second quarter valued at approximately $71,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Hecla Mining during the second quarter worth $757,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Hecla Mining Company Profile

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.