Short Interest in Hecla Mining (NYSE:HL) Decreases By 12.2%

Hecla Mining (NYSE:HL) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 17,080,000 shares, a drop of 12.2% from the October 15th total of 19,460,000 shares. Based on an average trading volume of 11,090,000 shares, the short-interest ratio is currently 1.5 days.

Hecla Mining Price Performance

Shares of HL stock traded up $0.16 during trading hours on Monday, hitting $5.66. The company had a trading volume of 13,963,733 shares, compared to its average volume of 9,292,087. Hecla Mining has a 12 month low of $3.33 and a 12 month high of $7.68. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of -141.38 and a beta of 2.00. The firm’s fifty day moving average is $6.52 and its 200 day moving average is $5.87. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.54 and a current ratio of 1.09.

Hecla Mining (NYSE:HL) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $245.09 million for the quarter, compared to the consensus estimate of $232.03 million. Hecla Mining had a positive return on equity of 0.75% and a negative net margin of 2.27%. The business’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) EPS. On average, sell-side analysts predict that Hecla Mining will post 0.06 EPS 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. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.0138 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, November 21st. Hecla Mining’s dividend payout ratio (DPR) is presently -125.00%.

Insider Transactions at Hecla Mining

In other Hecla Mining news, VP Kurt Allen sold 108,612 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 173,700 shares in the company, valued at approximately $1,175,949. The trade was a 38.47 % 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 link. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Hecla Mining

Hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Hecla Mining during the third quarter worth approximately $28,000. Continuum Advisory LLC lifted 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 worth $32,000 after acquiring an additional 4,967 shares during the last quarter. Innealta Capital LLC acquired a new stake in Hecla Mining during the second quarter worth approximately $41,000. Sound Income Strategies LLC acquired a new stake in Hecla Mining during the third quarter worth approximately $49,000. Finally, Ballentine Partners LLC acquired a new stake in Hecla Mining during the second quarter worth approximately $54,000. Institutional investors own 63.01% of the company’s stock.

Wall Street Analyst Weigh In

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

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.