Hecla Mining (NYSE:HL) Short Interest Down 8.5% in November

Hecla Mining (NYSE:HL) was the target of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 18,910,000 shares, a decrease of 8.5% from the November 15th total of 20,660,000 shares. Based on an average trading volume of 12,200,000 shares, the days-to-cover ratio is currently 1.6 days.

Hecla Mining Stock Performance

Shares of HL opened at $5.33 on Wednesday. The stock has a 50 day moving average price of $6.07 and a 200 day moving average price of $5.87. Hecla Mining has a 52-week low of $3.33 and a 52-week high of $7.68. The company has a quick ratio of 0.54, a current ratio of 1.09 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of -133.25 and a beta of 1.92.

Hecla Mining (NYSE:HL) last issued 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. Hecla Mining had a positive return on equity of 0.75% and a negative net margin of 2.27%. The company had revenue of $245.09 million for the quarter, compared to analyst estimates of $232.03 million. During the same quarter last year, the company posted ($0.01) earnings per share. The business’s quarterly revenue was up 34.7% compared to the same quarter last year. Research analysts predict that Hecla Mining will post 0.06 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st were paid a $0.0138 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Thursday, November 21st. Hecla Mining’s dividend payout ratio is currently -125.00%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HL shares. StockNews.com downgraded Hecla Mining from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. National Bank Financial downgraded shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, TD Securities dropped their price objective on shares of Hecla Mining from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.94.

Hedge Funds Weigh In On Hecla Mining

A number of hedge funds have recently modified their holdings of HL. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Hecla Mining during the third quarter worth about $28,000. Continuum Advisory LLC grew its position in Hecla Mining by 313.6% in the 2nd quarter. Continuum Advisory LLC now owns 6,551 shares of the basic materials company’s stock valued at $32,000 after buying an additional 4,967 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Hecla Mining during the second quarter worth about $41,000. Sound Income Strategies LLC purchased a new position in shares of Hecla Mining during the 3rd quarter worth approximately $49,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Hecla Mining in the 2nd quarter valued at approximately $54,000. 63.01% of the stock is currently owned by hedge funds and other 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.