Hecla Mining (NYSE:HL) Shares Gap Down – Here’s Why

Hecla Mining (NYSE:HL)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $5.52, but opened at $5.26. Hecla Mining shares last traded at $5.33, with a volume of 1,153,531 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com downgraded Hecla Mining from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. TD Securities cut their target price on shares of Hecla Mining from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Roth Mkm decreased their price target on shares of Hecla Mining from $6.25 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. HC Wainwright restated a “buy” rating and set a $10.25 price objective on shares of Hecla Mining in a research report on Thursday, August 8th. Finally, National Bank Financial cut Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $7.94.

Hecla Mining Trading Down 2.0 %

The stock has a market cap of $3.40 billion, a P/E ratio of -134.75 and a beta of 2.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.54 and a current ratio of 1.09. The stock’s fifty day moving average is $6.47 and its 200 day moving average is $5.89.

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

Hecla Mining Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be paid a $0.0138 dividend. This represents a $0.06 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, November 21st. Hecla Mining’s dividend payout ratio is currently -125.00%.

Insider Buying and Selling

In related news, VP Kurt Allen sold 108,612 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $6.77, for a total transaction of $735,303.24. Following the completion of the sale, the vice president now directly owns 173,700 shares of the company’s stock, valued at approximately $1,175,949. This trade represents a 38.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of Hecla Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Hecla Mining in the 3rd quarter worth about $28,000. Continuum Advisory LLC raised its position in Hecla Mining by 313.6% during the 2nd quarter. Continuum Advisory LLC now owns 6,551 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 4,967 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Hecla Mining in the 2nd quarter worth $41,000. Sound Income Strategies LLC bought a new position in shares of Hecla Mining during the 3rd quarter worth $49,000. Finally, Ballentine Partners LLC purchased a new position in shares of Hecla Mining during the second quarter valued at $54,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

About Hecla Mining

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.