Hecla Mining (NYSE:HL) Trading 6.5% Higher – Should You Buy?

Hecla Mining Company (NYSE:HL)’s share price shot up 6.5% on Wednesday . The company traded as high as $20.33 and last traded at $20.3560. 2,181,252 shares were traded during trading, a decline of 92% from the average session volume of 25,862,750 shares. The stock had previously closed at $19.11.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on HL shares. Wall Street Zen downgraded Hecla Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Scotiabank reduced their price objective on shares of Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Jefferies Financial Group initiated coverage on shares of Hecla Mining in a research note on Thursday, August 20th. They issued a “hold” rating and a $22.00 price objective for the company. HC Wainwright dropped their target price on shares of Hecla Mining from $36.50 to $26.75 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Hecla Mining from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.82.

Hecla Mining Trading Up 6.7%

The firm has a market cap of $13.69 billion, a price-to-earnings ratio of 41.31 and a beta of 1.38. The firm’s 50-day moving average is $16.75 and its 200-day moving average is $18.13.

Hecla Mining (NYSE:HL) last released its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%. The business had revenue of $333.85 million during the quarter, compared to the consensus estimate of $368.75 million. During the same period last year, the business posted $0.09 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts forecast that Hecla Mining Company will post 0.46 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors 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 is currently 2.04%.

Hedge Funds Weigh In On Hecla Mining

Hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its holdings in Hecla Mining by 74.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 631 shares in the last quarter. Sittner & Nelson LLC purchased a new stake in shares of Hecla Mining in the fourth quarter worth approximately $29,000. Rothschild Investment LLC lifted its holdings in shares of Hecla Mining by 93.5% in the fourth quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 781 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Hecla Mining in the fourth quarter valued at approximately $31,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Hecla Mining by 134.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,670 shares of the basic materials company’s stock valued at $32,000 after buying an additional 957 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

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.