Zacks Investment Research lowered shares of Hecla Mining Co. (NYSE:HL) from a buy rating to a hold rating in a research report report published on Wednesday morning.
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. “
Several other equities research analysts also recently weighed in on the company. Vetr downgraded Hecla Mining from a strong-buy rating to a buy rating and set a $6.84 price target on the stock. in a report on Tuesday, November 22nd. BMO Capital Markets downgraded Hecla Mining from a market perform rating to an underperform rating and set a $6.50 price target on the stock. in a report on Thursday, November 10th. They noted that the move was a valuation call. Canaccord Genuity assumed coverage on Hecla Mining in a report on Tuesday, October 25th. They issued a hold rating and a $6.00 price target on the stock. Rodman & Renshaw assumed coverage on Hecla Mining in a report on Tuesday, September 6th. They issued a buy rating and a $9.00 price target on the stock. Finally, Deutsche Bank AG increased their price target on Hecla Mining from $4.20 to $5.50 and gave the stock a hold rating in a report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $6.04.
Shares of Hecla Mining (NYSE:HL) opened at 6.03 on Wednesday. The company’s market capitalization is $2.38 billion. Hecla Mining has a 12-month low of $1.45 and a 12-month high of $7.64. The firm has a 50-day moving average price of $5.98 and a 200 day moving average price of $5.60.
Hecla Mining (NYSE:HL) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Hecla Mining had a positive return on equity of 4.88% and a negative net margin of 2.29%. The firm had revenue of $179.40 million for the quarter, compared to the consensus estimate of $163.48 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The company’s revenue for the quarter was up 70.9% on a year-over-year basis. On average, equities research analysts predict that Hecla Mining will post $0.20 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Monday, November 21st will be given a dividend of $0.0025 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.01 annualized dividend and a yield of 0.17%. Hecla Mining’s dividend payout ratio (DPR) is presently -24.99%.
Several hedge funds have recently bought and sold shares of HL. Investors Capital Advisory Services boosted its stake in Hecla Mining by 0.3% in the second quarter. Investors Capital Advisory Services now owns 22,489 shares of the company’s stock worth $114,000 after buying an additional 57 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Hecla Mining by 0.6% in the second quarter. Public Employees Retirement System of Ohio now owns 23,781 shares of the company’s stock worth $121,000 after buying an additional 143 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Hecla Mining by 1.1% in the third quarter. Principal Financial Group Inc. now owns 69,994 shares of the company’s stock worth $399,000 after buying an additional 730 shares during the last quarter. Washington Trust Bank boosted its stake in Hecla Mining by 4.3% in the second quarter. Washington Trust Bank now owns 23,467 shares of the company’s stock worth $120,000 after buying an additional 967 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Hecla Mining by 3.0% in the second quarter. ProShare Advisors LLC now owns 46,692 shares of the company’s stock worth $238,000 after buying an additional 1,357 shares during the last quarter. 53.62% of the stock is owned by hedge funds and other institutional investors.
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. The Company produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver at Greens Creek and Casa Berardi.