Investing

Unusual Put Option Trade in Hecla Mining Worth $71.39K

On May 11, 2023 at 11:50:24 ET an unusually large $71.39K block of Put contracts in Hecla Mining (HL) was bought, with a strike price of $6.00 / share, expiring in 1 day(s) (on May 12, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.73 sigmas above the mean, placing it in the 70.94th percentile of all recent large trades made in HL options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 513 funds or institutions reporting positions in Hecla Mining. This is a decrease of 4 owner(s) or 0.77% in the last quarter. Average portfolio weight of all funds dedicated to HL is 0.18%, an increase of 19.90%. Total shares owned by institutions increased in the last three months by 4.51% to 442,300K shares. The put/call ratio of HL is 0.34, indicating a bullish outlook.

Analyst Price Forecast Suggests 25.82% Upside

As of May 11, 2023, the average one-year price target for Hecla Mining is 7.31. The forecasts range from a low of 6.06 to a high of $8.66. The average price target represents an increase of 25.82% from its latest reported closing price of 5.81.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Hecla Mining is 793MM, an increase of 8.35%. The projected annual non-GAAP EPS is 0.14.

What are Other Shareholders Doing?

Van Eck Associates holds 60,912K shares representing 10.12% ownership of the company. In it’s prior filing, the firm reported owning 55,225K shares, representing an increase of 9.34%. The firm increased its portfolio allocation in HL by 10.65% over the last quarter.

GDX – VanEck Vectors Gold Miners ETF holds 31,423K shares representing 5.22% ownership of the company. In it’s prior filing, the firm reported owning 30,565K shares, representing an increase of 2.73%. The firm increased its portfolio allocation in HL by 13.70% over the last quarter.

GDXJ – VanEck Vectors Junior Gold Miners ETF holds 18,849K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 15,732K shares, representing an increase of 16.53%. The firm increased its portfolio allocation in HL by 35.96% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 17,561K shares representing 2.92% ownership of the company. In it’s prior filing, the firm reported owning 16,481K shares, representing an increase of 6.15%. The firm increased its portfolio allocation in HL by 38.86% over the last quarter.

XME – SPDR(R) S&P(R) Metals & Mining ETF holds 14,965K shares representing 2.49% ownership of the company. In it’s prior filing, the firm reported owning 16,391K shares, representing a decrease of 9.53%. The firm increased its portfolio allocation in HL by 4.20% over the last quarter.

Hecla Mining Background Information
(This description is provided by the company.)

Founded in 1891,Hecla Mining Company is the largest silver producer in the United States. In addition to operating mines in Alaska, Idaho and Quebec, Canada, the Company owns a number of exploration properties and pre-development projects in world-class silver and gold mining districts throughout North America.

See all Hecla Mining regulatory filings.

This article originally appeared on Fintel

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.