Hecla Mining (NYSE:HL) Sees Large Decrease in Short Interest

Hecla Mining (NYSE:HL) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 13,340,000 shares, a decrease of 8.3% from the August 15th total of 14,540,000 shares. Based on an average trading volume of 8,290,000 shares, the days-to-cover ratio is presently 1.6 days.

Hecla Mining Trading Down 3.4 %

Shares of HL opened at $6.53 on Thursday. The firm’s 50 day simple moving average is $5.76 and its 200 day simple moving average is $5.33. The company has a market capitalization of $4.09 billion, a P/E ratio of -43.53 and a beta of 2.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.29 and a quick ratio of 0.58. Hecla Mining has a 1-year low of $3.33 and a 1-year high of $6.99.

Hecla Mining (NYSE:HL) last announced its earnings results on Tuesday, August 6th. The basic materials company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $245.66 million for the quarter, compared to the consensus estimate of $208.80 million. Hecla Mining had a negative net margin of 5.56% and a negative return on equity of 0.42%. During the same period last year, the firm posted $0.03 earnings per share. Sell-side analysts forecast that Hecla Mining will post 0.04 earnings per share for the current fiscal year.

Hecla Mining Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Monday, August 26th were given a dividend of $0.0138 per share. This is a boost from Hecla Mining’s previous quarterly dividend of $0.00. This represents a $0.06 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Monday, August 26th. Hecla Mining’s dividend payout ratio (DPR) is presently -33.33%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $10.25 price objective on shares of Hecla Mining in a report on Thursday, August 8th. Roth Mkm dropped their price objective on shares of Hecla Mining from $6.25 to $6.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. CIBC increased their price target on shares of Hecla Mining from $6.75 to $7.50 and gave the stock a “neutral” rating in a report on Wednesday, May 22nd. Finally, Cibc World Mkts raised shares of Hecla Mining to a “hold” rating in a report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Hecla Mining currently has an average rating of “Moderate Buy” and a consensus target price of $7.45.

Insider Transactions at Hecla Mining

In related news, VP Kurt Allen sold 108,612 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $6.77, for a total transaction of $735,303.24. Following the completion of the transaction, the vice president now owns 173,700 shares in the company, valued at $1,175,949. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, VP Kurt Allen sold 108,612 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $6.77, for a total transaction of $735,303.24. Following the completion of the transaction, the vice president now owns 173,700 shares in the company, valued at $1,175,949. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Michael L. Clary sold 30,634 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $4.91, for a total transaction of $150,412.94. Following the transaction, the chief accounting officer now owns 351,972 shares of the company’s stock, valued at approximately $1,728,182.52. The disclosure for this sale can be found here. Insiders sold a total of 175,717 shares of company stock worth $1,064,789 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Continuum Advisory LLC grew its position in Hecla Mining by 313.6% during the second quarter. Continuum Advisory LLC now owns 6,551 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 4,967 shares during the last quarter. Innealta Capital LLC bought a new position in Hecla Mining during the second quarter valued at approximately $41,000. Ballentine Partners LLC bought a new position in Hecla Mining during the second quarter valued at approximately $54,000. Oak Family Advisors LLC bought a new position in Hecla Mining during the second quarter valued at approximately $55,000. Finally, Empowered Funds LLC grew its holdings in shares of Hecla Mining by 27.7% in the first quarter. Empowered Funds LLC now owns 13,447 shares of the basic materials company’s stock worth $65,000 after purchasing an additional 2,916 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

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.