Hecla Mining (NYSE:HL) Stock Price Down 10.5% Following Weak Earnings

Hecla Mining (NYSE:HL)’s stock price traded down 10.5% on Friday following a dissappointing earnings announcement. The company traded as low as $4.98 and last traded at $4.90. 5,201,844 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 13,468,020 shares. The stock had previously closed at $5.47.

The basic materials company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). Hecla Mining had a return on equity of 3.10% and a net margin of 3.85%. The firm had revenue of $261.34 million during the quarter, compared to the consensus estimate of $238.50 million. During the same quarter last year, the business earned ($0.01) EPS. The business’s revenue was up 37.9% compared to the same quarter last year.

Hecla Mining Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 23rd will be paid a dividend of $0.0038 per share. The ex-dividend date is Friday, May 23rd. This represents a $0.02 annualized dividend and a yield of 0.33%. Hecla Mining’s payout ratio is 20.00%.

Analyst Ratings Changes

HL has been the topic of several recent analyst reports. TD Securities downgraded Hecla Mining from a “buy” rating to a “hold” rating and dropped their price target for the stock from $6.50 to $5.50 in a research report on Tuesday, March 11th. National Bank Financial upgraded shares of Hecla Mining to a “hold” rating in a research note on Friday, March 21st. Roth Mkm reduced their price target on shares of Hecla Mining from $6.60 to $6.50 and set a “buy” rating for the company in a report on Tuesday, February 18th. HC Wainwright restated a “buy” rating and set a $11.50 price objective on shares of Hecla Mining in a report on Friday, February 14th. Finally, StockNews.com raised shares of Hecla Mining from a “sell” rating to a “hold” rating in a research report on Monday, February 17th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.75.

Insiders Place Their Bets

In other Hecla Mining news, VP Kurt Allen sold 9,195 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $5.18, for a total value of $47,630.10. Following the transaction, the vice president now owns 104,512 shares of the company’s stock, valued at approximately $541,372.16. The trade was a 8.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Krcmarov bought 6,570 shares of the stock in a transaction dated Wednesday, February 19th. The stock was acquired at an average price of $5.29 per share, with a total value of $34,755.30. Following the completion of the purchase, the chief executive officer now owns 331,856 shares of the company’s stock, valued at $1,755,518.24. This represents a 2.02 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 57,915 shares of company stock worth $300,000 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hecla Mining

A number of large investors have recently modified their holdings of the stock. Blue Trust Inc. raised its position in Hecla Mining by 30.7% in the 4th quarter. Blue Trust Inc. now owns 8,351 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 1,961 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Hecla Mining by 13.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,883 shares of the basic materials company’s stock valued at $93,000 after buying an additional 2,169 shares during the period. Arizona State Retirement System raised its position in shares of Hecla Mining by 1.3% during the fourth quarter. Arizona State Retirement System now owns 173,616 shares of the basic materials company’s stock worth $852,000 after acquiring an additional 2,297 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Hecla Mining by 10.7% during the fourth quarter. Ameriprise Financial Inc. now owns 25,370 shares of the basic materials company’s stock valued at $125,000 after acquiring an additional 2,457 shares during the period. Finally, Xponance Inc. boosted its holdings in Hecla Mining by 5.9% in the first quarter. Xponance Inc. now owns 45,092 shares of the basic materials company’s stock valued at $251,000 after acquiring an additional 2,525 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Hecla Mining Stock Performance

The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 90.82 and a beta of 1.77. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.08 and a quick ratio of 0.55. The stock has a 50-day moving average of $5.53 and a 200 day moving average of $5.64.

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.