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Why Should You Invest In Hecla Mining Co. (NYSE: HL)?

In the latest trading session, 2.19 million Hecla Mining Co. (NYSE:HL) shares changed hands as the company’s beta touched 2.19. With the company’s most recent per share price at $3.46 changed hands at -$0.24 or -6.38% at last look, the market valuation stands at $2.14B. HL’s current price is a discount, trading about -102.02% off its 52-week high of $6.99. The share price had its 52-week low at $3.48, which suggests the last value was -0.58% down since then. When we look at Hecla Mining Co.’s average trading volume, we note the 10-day average is 6.05 million shares, with the 3-month average coming to 1.85.

Hecla Mining Co. (NYSE:HL) trade information

Instantly HL was in red as seen in intraday trades today. With action -5.36%, the performance over the past five days has been red. The drop to weekly highs of 3.76 subtracted -6.38% to the stock’s daily price. The company’s shares are showing year-to-date downside of -27.99%, with the 5-day performance at -5.36% in the red. However, in the 30-day time frame, Hecla Mining Co. (NYSE:HL) is -21.10% down. Looking at the short shares, we see there were 11.31 million shares sold at short interest cover period of 2 days.

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Hecla Mining Co. (HL) estimates and forecasts

Data shows that the Hecla Mining Co. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -26.53% over the past 6 months, a -160.00% in annual growth rate that is considerably lower than the industry average of 4.30%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Hecla Mining Co. will fall -200.00%, while the growth in revenue is estimated to hit 200.00% for the next quarter. Year-over-year growth is forecast to reach 0.20% up from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $151.87 million. 1 analysts are of the opinion that Hecla Mining Co.’s revenue for the quarter ending Mar 2024 will be $176.7 million. The company’s revenue for the corresponding quarters a year ago was $194.82 million and $199.5 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -22.00%. The estimates for the next quarter sales put growth at -11.40%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 1.46%. The 2024 estimates are for Hecla Mining Co. earnings to decrease by -101.03%.

HL Dividends

Hecla Mining Co. is expected to release its next quarterly earnings report on February 14. The 0.72% annual yield figure for the share gives it an annual dividend of 0.03. It is important to note, however, that the 0.72% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Hecla Mining Co. (NYSE:HL)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 7.11% of Hecla Mining Co. shares while 62.13% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 66.89%. There are 62.13% institutions holding the Hecla Mining Co. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 9.25% of the shares, roughly 57.08 million HL shares worth $293.96 million.

Van Eck Associates Corporation holds the second largest percentage of outstanding shares, with 8.90% or 54.91 million shares worth $282.8 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were VanEck ETF Trust-VanEck Gold Miners ETF and Vanguard Total Stock Market Index Fund. With 32.84 million shares estimated at $128.41 million under it, the former controlled 5.32% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.94% of the shares, roughly 18.13 million shares worth around $93.35 million.

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