Hecla Mining (NYSE:HL) Shares Up 8.8% – Still a Buy?

Hecla Mining Company (NYSE:HL)’s share price was up 8.8% during trading on Wednesday . The company traded as high as $19.66 and last traded at $19.5260. Approximately 5,864,056 shares were traded during trading, a decline of 77% from the average daily volume of 25,359,115 shares. The stock had previously closed at $17.95.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Weiss Ratings upgraded shares of Hecla Mining from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Wall Street Zen downgraded shares of Hecla Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research raised shares of Hecla Mining to a “hold” rating in a research report on Friday, July 17th. Scotiabank dropped their price target on shares of Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Finally, Canaccord Genuity Group raised Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Hecla Mining has a consensus rating of “Hold” and an average target price of $24.12.

Hecla Mining Stock Up 13.7%

The stock has a 50-day moving average price of $15.78 and a 200 day moving average price of $18.31. The firm has a market capitalization of $13.71 billion, a price-to-earnings ratio of 41.66 and a beta of 1.32.

Hecla Mining (NYSE:HL) last issued its quarterly earnings results on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%.The firm had revenue of $333.85 million during the quarter, compared to analysts’ expectations of $368.75 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts forecast that Hecla Mining Company will post 0.47 earnings per share for the current fiscal year.

Hecla Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be issued a $0.0038 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Wednesday, August 26th. Hecla Mining’s dividend payout ratio (DPR) is presently 2.04%.

Hedge Funds Weigh In On Hecla Mining

A number of institutional investors and hedge funds have recently modified their holdings of HL. Comprehensive Money Management Services LLC purchased a new position in Hecla Mining in the second quarter valued at $328,000. Empowered Funds LLC purchased a new position in shares of Hecla Mining in the 2nd quarter valued at about $22,599,000. United Capital Financial Advisors LLC acquired a new stake in shares of Hecla Mining during the 2nd quarter worth about $175,000. Jefferies Financial Group Inc. purchased a new stake in Hecla Mining during the second quarter worth approximately $678,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Hecla Mining in the second quarter valued at approximately $2,823,000. 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.