There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 20, Hecla Mining Co.'s CEO, Phillips S. Baker Jr., invested $91,500.00 into 30,000 shares of HL, for a cost per share of $3.05. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

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In trading on Friday, bargain hunters could buy shares of Hecla Mining Co. ( HL - Get Report) and achieve a cost basis 1.6% cheaper than Baker Jr., with shares changing hands as low as $3.00 per share. It should be noted that Baker Jr. has collected $0.01/share in dividends since the time of their purchase, so they are currently down 1.3% on their purchase from a total return basis. Hecla Mining Co. shares are currently trading down about 0.3% on the day. The chart below shows the one year performance of HL shares, versus its 200 day moving average:

Hecla Mining Co. Chart

Looking at the chart above, HL's low point in its 52 week range is $2.63 per share, with $4.03 as the 52 week high point — that compares with a last trade of $3.02. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
11/20/2013 Phillips S. Baker Jr. President & CEO 30,000 $3.05 $91,500.00

According to the ETF Finder at ETF Channel, HL makes up 4.68% of the Silver Miners ETF ( SIL) which is trading lower by about 1.3% on the day Friday.