Hecla Mining (NYSE:HL) Sees Unusually-High Trading Volume

Posted by Defense World Staff on Apr 15th, 2023

Hecla Mining (NYSE:HL – Get Rating) shares saw strong trading volume on Thursday . 3,058,209 shares changed hands during mid-day trading, a decline of 65% from the previous session’s volume of 8,805,635 shares.The stock last traded at $6.96 and had previously closed at $6.64.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. StockNews.com assumed coverage on Hecla Mining in a research note on Thursday, March 16th. They issued a “sell” rating for the company. HC Wainwright raised their target price on Hecla Mining from $7.00 to $8.25 in a research note on Friday. Canaccord Genuity Group lowered their target price on Hecla Mining from $7.25 to $6.25 and set a “buy” rating for the company in a research note on Thursday, February 16th. Roth Mkm lowered Hecla Mining from a “buy” rating to a “neutral” rating and raised their target price for the company from $5.50 to $6.25 in a research note on Friday. Finally, BMO Capital Markets raised their target price on Hecla Mining from $4.75 to $5.00 and gave the company a “market perform” rating in a research note on Friday, January 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.14.

Hecla Mining Price Performance

The stock has a 50-day moving average of $5.72 and a 200 day moving average of $5.39. The company has a quick ratio of 0.99, a current ratio of 1.50 and a debt-to-equity ratio of 0.26.

Hecla Mining (NYSE:HL – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The basic materials company reported $0.02 EPS for the quarter. Hecla Mining had a positive return on equity of 1.44% and a negative net margin of 5.20%. The firm had revenue of $194.83 million during the quarter, compared to analyst estimates of $196.20 million. Equities analysts anticipate that Hecla Mining will post 0.09 earnings per share for the current fiscal year.

Hecla Mining Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Thursday, March 9th were issued a dividend of $0.006 per share. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $0.02 dividend on an annualized basis and a yield of 0.36%. This is a boost from Hecla Mining’s previous quarterly dividend of $0.00. Hecla Mining’s dividend payout ratio (DPR) is -42.85%.

Hedge Funds Weigh In On Hecla Mining

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AE Wealth Management LLC boosted its holdings in Hecla Mining by 30.0% during the first quarter. AE Wealth Management LLC now owns 18,531 shares of the basic materials company’s stock worth $117,000 after buying an additional 4,271 shares during the last quarter. Chartwell Investment Partners LLC lifted its holdings in shares of Hecla Mining by 46.1% during the 1st quarter. Chartwell Investment Partners LLC now owns 686,550 shares of the basic materials company’s stock valued at $4,346,000 after purchasing an additional 216,550 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Hecla Mining by 24.7% during the 1st quarter. National Bank of Canada FI now owns 1,131,075 shares of the basic materials company’s stock valued at $7,160,000 after purchasing an additional 224,135 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Hecla Mining during the 4th quarter valued at about $487,000. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Hecla Mining by 119.4% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 779,117 shares of the basic materials company’s stock valued at $4,332,000 after purchasing an additional 423,949 shares in the last quarter. Institutional investors own 59.73% of the company’s stock.

Hecla Mining Company Profile

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Hecla Mining Co operates as a silver and gold production company. The firm produces lead, zinc and bulk concentrates for custom smelters and brokers and develops unrefined precipitate and bullion bars for precious metals traders. It operates through the following business segments: Greens Creek, Lucky Friday, Casa Berardi, and Nevada Operations.