BMO Capital Markets Downgrade Hecla Mining Company (HL) to Underperform

BMO Capital Markets Downgrade Hecla Mining Company (HL) to Underperform

Hecla Mining Company (NYSE:HL) was downgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “underperform” rating in a report released on Thursday. They presently have a $6.50 price target on the stock. BMO Capital Markets’ price objective suggests a potential upside of 7.79% from the company’s previous close. The analysts noted that the move was a valuation call.

A number of other research analysts also recently issued reports on the company. Canaccord Genuity assumed coverage on Hecla Mining Company in a report on Tuesday, October 25th. They set a “hold” rating and a $6.00 price target on the stock. Zacks Investment Research upgraded Hecla Mining Company from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a report on Tuesday, October 11th. Rodman & Renshaw assumed coverage on Hecla Mining Company in a report on Tuesday, September 6th. They set a “buy” rating and a $9.00 price target on the stock. Deutsche Bank AG boosted their price target on Hecla Mining Company from $4.20 to $5.50 and gave the company a “hold” rating in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. upgraded Hecla Mining Company from a “neutral” rating to an “overweight” rating and set a $8.00 price target on the stock in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $6.04.

Shares of Hecla Mining Company (NYSE:HL) opened at 6.03 on Thursday. The stock has a 50 day moving average price of $5.84 and a 200 day moving average price of $5.46. The stock’s market capitalization is $2.38 billion. Hecla Mining Company has a 52 week low of $1.45 and a 52 week high of $7.64.

Hecla Mining Company (NYSE:HL) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Hecla Mining Company had a positive return on equity of 4.88% and a negative net margin of 2.29%. The company had revenue of $179.40 million for the quarter, compared to the consensus estimate of $163.48 million. During the same quarter in the previous year, the business earned ($0.05) EPS. Hecla Mining Company’s revenue was up 70.9% compared to the same quarter last year. On average, equities research analysts expect that Hecla Mining Company will post $0.19 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Monday, November 21st will be given a $0.0025 dividend. The ex-dividend date is Thursday, November 17th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.17%. Hecla Mining Company’s dividend payout ratio is currently -24.99%.

In other news, VP David C. Sienko sold 13,722 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $5.85, for a total value of $80,273.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in HL. Raymond James & Associates raised its position in shares of Hecla Mining Company by 88.8% in the second quarter. Raymond James & Associates now owns 20,780 shares of the company’s stock worth $106,000 after buying an additional 9,776 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Hecla Mining Company by 7.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,995 shares of the company’s stock worth $108,000 after buying an additional 1,365 shares during the last quarter. Investors Capital Advisory Services raised its position in shares of Hecla Mining Company 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. Washington Trust Bank raised its position in shares of Hecla Mining Company 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, Public Employees Retirement System of Ohio raised its position in shares of Hecla Mining Company 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. Institutional investors own 57.95% of the company’s stock.

About Hecla Mining Company

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