Hecla Mining (NYSE:HL) Shares Up 4.7% – Here’s What Happened

Hecla Mining (NYSE:HL) was up 4.7% during mid-day trading on Monday . The company traded as high as $5.86 and last traded at $5.95. Approximately 7,444,591 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 14,754,380 shares. The stock had previously closed at $5.68.

Analysts Set New Price Targets

A number of equities analysts have commented on HL shares. TD Securities decreased their target price on Hecla Mining from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Friday, November 8th. StockNews.com downgraded Hecla Mining from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Finally, National Bank Financial cut Hecla Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.94.

Hecla Mining Stock Up 1.1 %

The stock has a market cap of $3.73 billion, a P/E ratio of -148.63 and a beta of 1.91. The company has a current ratio of 1.09, a quick ratio of 0.54 and a debt-to-equity ratio of 0.24. The stock’s 50-day moving average is $5.37 and its 200-day moving average is $5.84.

Hecla Mining (NYSE:HL) last released its earnings results on Wednesday, November 6th. The basic materials company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Hecla Mining had a positive return on equity of 0.75% and a negative net margin of 2.27%. The firm had revenue of $245.09 million during the quarter, compared to the consensus estimate of $232.03 million. During the same period in the prior year, the firm posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 34.7% compared to the same quarter last year. As a group, research analysts anticipate that Hecla Mining will post 0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of Hecla Mining by 771.8% during the fourth quarter. GAMMA Investing LLC now owns 5,013 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 4,438 shares during the period. Ameliora Wealth Management Ltd. acquired a new stake in Hecla Mining during the 4th quarter worth about $25,000. Principal Securities Inc. purchased a new stake in Hecla Mining during the fourth quarter valued at about $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Hecla Mining in the third quarter worth about $28,000. Finally, Blue Trust Inc. raised its holdings in shares of Hecla Mining by 30.7% during the fourth quarter. Blue Trust Inc. now owns 8,351 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 1,961 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Hecla Mining Company Profile

Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States, Canada, Japan, Korea, and China. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for custom smelters, metal traders, and third-party processors; and doré containing silver and gold.