BMO Capital Markets Downgrades Hecla Mining Co. (HL) to Underperform
Hecla Mining Co. (NYSE:HL) was downgraded by BMO Capital Markets from a “market perform” rating to an “underperform” rating in a note issued to investors on Thursday.
Other analysts have also issued research reports about the company. Rodman & Renshaw initiated coverage on Hecla Mining in a research note on Tuesday, September 6th. They issued a “buy” rating and a $9.00 price target for the company. Zacks Investment Research raised Hecla Mining from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a research note on Tuesday, October 11th. Canaccord Genuity initiated coverage on Hecla Mining in a research note on Tuesday, October 25th. They issued a “hold” rating and a $6.00 price target for the company. Deutsche Bank AG raised their price target on Hecla Mining from $4.20 to $5.50 and gave the stock a “hold” rating in a research note on Tuesday, August 9th. Finally, FBR & Co reaffirmed a “market perform” rating and issued a $6.00 price target (up previously from $5.00) on shares of Hecla Mining in a research note on Monday, August 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Hecla Mining currently has an average rating of “Hold” and a consensus price target of $6.02.
Hecla Mining (NYSE:HL) opened at 7.24 on Thursday. The firm’s 50-day moving average is $5.84 and its 200-day moving average is $5.44. Hecla Mining has a 12-month low of $1.45 and a 12-month high of $7.64. The stock’s market capitalization is $2.80 billion.
Hecla Mining (NYSE:HL) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Hecla Mining had a positive return on equity of 4.97% and a negative net margin of 2.29%. The company earned $179.40 million during the quarter, compared to analyst estimates of $163.48 million. During the same quarter last year, the firm posted ($0.05) earnings per share. The firm’s revenue was up 70.9% on a year-over-year basis. Analysts predict that Hecla Mining will post $0.20 EPS for the current fiscal 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 issued 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 dividend yield of 0.14%. Hecla Mining’s payout ratio is presently -24.99%.
In related news, VP David C. Sienko sold 13,722 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $5.85, for a total transaction of $80,273.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Lawrence P. Radford sold 100,000 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $7.12, for a total value of $712,000.00. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI boosted its stake in Hecla Mining by 994.4% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 473,507 shares of the company’s stock valued at $2,415,000 after buying an additional 430,240 shares during the period. California State Teachers Retirement System boosted its stake in Hecla Mining by 1.9% in the second quarter. California State Teachers Retirement System now owns 801,589 shares of the company’s stock valued at $4,088,000 after buying an additional 14,711 shares during the period. Alps Advisors Inc. boosted its stake in Hecla Mining by 41.3% in the second quarter. Alps Advisors Inc. now owns 335,771 shares of the company’s stock valued at $1,712,000 after buying an additional 98,092 shares during the period. Falcon Point Capital LLC purchased a new position in shares of Hecla Mining during the second quarter valued at about $134,000. Finally, Old Mutual Global Investors UK Ltd. boosted its position in shares of Hecla Mining by 25.9% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 352,600 shares of the company’s stock valued at $1,798,000 after buying an additional 72,600 shares during the last quarter. 57.74% of the stock is currently owned by institutional investors.
About Hecla Mining
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.
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