Zacks Investment Research lowered shares of Hecla Mining (NYSE:HL) from a strong-buy rating to a hold rating in a report published on Friday.
According to Zacks, “Hecla Mining Company is a leading low-cost U.S. silver producer with operating mines in Alaska and Idaho, and is a growing gold producer with an operating mine in Quebec, Canada. The Company also has exploration and pre-development properties in five world-class silver and gold mining districts in the U.S., Canada, and Mexico, and an exploration office and investments in early-stage silver exploration projects in Canada. “
Other analysts also recently issued reports about the stock. B. Riley reiterated a neutral rating on shares of Hecla Mining in a report on Wednesday, November 1st. BMO Capital Markets restated a hold rating and issued a $6.00 target price on shares of Hecla Mining in a report on Wednesday, September 20th. ValuEngine downgraded shares of Hecla Mining from a hold rating to a sell rating in a report on Thursday, November 9th. HC Wainwright restated a buy rating and issued a $8.50 target price on shares of Hecla Mining in a report on Friday, November 3rd. Finally, Canaccord Genuity restated a buy rating and issued a $5.00 target price on shares of Hecla Mining in a report on Monday, January 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $5.54.
Shares of Hecla Mining (HL) traded down $0.08 during midday trading on Friday, reaching $4.41. 5,519,813 shares of the company’s stock were exchanged, compared to its average volume of 4,175,891. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.15 and a current ratio of 2.69. The company has a market cap of $1,791.59, a P/E ratio of 73.50, a P/E/G ratio of 28.97 and a beta of 0.20. Hecla Mining has a one year low of $3.43 and a one year high of $6.78.
Hecla Mining (NYSE:HL) last announced its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $140.80 million for the quarter, compared to the consensus estimate of $151.32 million. Hecla Mining had a net margin of 4.21% and a return on equity of 1.89%. Hecla Mining’s revenue for the quarter was down 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. equities analysts anticipate that Hecla Mining will post 0.05 earnings per share for the current fiscal year.
In other news, Director Theodore Crumley purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was purchased at an average cost of $3.49 per share, with a total value of $34,900.00. Following the purchase, the director now owns 126,536 shares in the company, valued at $441,610.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Phillips S. Baker, Jr. purchased 13,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were purchased at an average cost of $3.76 per share, with a total value of $48,880.00. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in HL. BT Investment Management Ltd purchased a new position in shares of Hecla Mining during the 2nd quarter worth about $77,979,000. Van ECK Associates Corp boosted its position in Hecla Mining by 37.6% in the 2nd quarter. Van ECK Associates Corp now owns 38,105,358 shares of the basic materials company’s stock valued at $194,337,000 after buying an additional 10,415,245 shares during the period. Bank of New York Mellon Corp boosted its position in Hecla Mining by 133.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,239,775 shares of the basic materials company’s stock valued at $21,623,000 after buying an additional 2,425,493 shares during the period. JPMorgan Chase & Co. boosted its position in Hecla Mining by 2,590.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,073,878 shares of the basic materials company’s stock valued at $5,477,000 after buying an additional 1,033,961 shares during the period. Finally, Prudential Financial Inc. boosted its position in Hecla Mining by 1,745.2% in the 2nd quarter. Prudential Financial Inc. now owns 771,532 shares of the basic materials company’s stock valued at $3,935,000 after buying an additional 729,720 shares during the period. 60.28% of the stock is owned by hedge funds and other institutional investors.
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Hecla Mining Company Profile
Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Company and its subsidiaries provide precious and base metals to the United States and around the world. It produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver.
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