Hecla Mining (NYSE:HL) Shares Gap Down Following Insider Selling

Hecla Mining Company (NYSE:HL) gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $22.27, but opened at $21.09. Hecla Mining shares last traded at $20.0740, with a volume of 9,133,213 shares traded.

Specifically, VP Kurt Allen sold 52,219 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $21.91, for a total value of $1,144,118.29. Following the completion of the sale, the vice president owned 216,641 shares in the company, valued at approximately $4,746,604.31. This trade represents a 19.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

HL has been the topic of a number of analyst reports. HC Wainwright upped their target price on Hecla Mining from $12.50 to $16.50 and gave the company a “buy” rating in a research note on Thursday, November 6th. Wall Street Zen raised Hecla Mining from a “hold” rating to a “buy” rating in a research note on Sunday, November 2nd. CIBC upped their price objective on Hecla Mining from $15.00 to $16.50 and gave the company a “neutral” rating in a research report on Tuesday, November 25th. Scotiabank initiated coverage on Hecla Mining in a research note on Thursday, November 13th. They issued a “sector perform” rating and a $15.00 target price on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Hecla Mining in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.22.

Hecla Mining Stock Down 1.7%

The firm has a market capitalization of $14.08 billion, a PE ratio of 67.79 and a beta of 1.28. The company has a fifty day simple moving average of $17.00 and a two-hundred day simple moving average of $11.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.51 and a current ratio of 2.15.

Hecla Mining (NYSE:HL) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. Hecla Mining had a return on equity of 7.87% and a net margin of 16.35%.The firm had revenue of $409.54 million for the quarter, compared to analyst estimates of $315.60 million. During the same quarter last year, the firm posted $0.03 earnings per share. The business’s revenue for the quarter was up 67.1% on a year-over-year basis. Analysts forecast that Hecla Mining Company will post 0.21 EPS for the current fiscal year.

Hecla Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, November 24th were given a $0.0038 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, November 24th. Hecla Mining’s dividend payout ratio is presently 3.23%.

Hedge Funds Weigh In On Hecla Mining

A number of hedge funds and other institutional investors have recently modified their holdings of HL. QP Wealth Management LLC bought a new position in Hecla Mining in the fourth quarter worth approximately $801,000. GAMMA Investing LLC boosted its position in Hecla Mining by 133.4% during the 4th quarter. GAMMA Investing LLC now owns 15,000 shares of the basic materials company’s stock valued at $288,000 after acquiring an additional 8,574 shares in the last quarter. Swiss Life Asset Management Ltd increased its holdings in shares of Hecla Mining by 75.2% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 28,318 shares of the basic materials company’s stock valued at $343,000 after acquiring an additional 12,156 shares during the period. Sunbelt Securities Inc. bought a new position in shares of Hecla Mining in the 3rd quarter worth $97,000. Finally, Coldstream Capital Management Inc. bought a new position in shares of Hecla Mining in the 3rd quarter worth $557,000. 63.01% of the stock is currently owned by institutional investors.

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.