Hecla Mining Co. (HL) Rating Increased to Buy at Vetr Inc.
Hecla Mining Co. (NYSE:HL) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm presently has a $6.84 price target on the stock. Vetr‘s price target would suggest a potential upside of 13.43% from the stock’s previous close.
A number of other equities research analysts have also commented on the stock. JPMorgan Chase & Co. upgraded shares of Hecla Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price target for the company in a report on Tuesday, August 9th. Rodman & Renshaw initiated coverage on shares of Hecla Mining in a report on Tuesday, September 6th. They set a “buy” rating and a $9.00 price target for the company. BMO Capital Markets lowered shares of Hecla Mining from an “outperform” rating to a “market perform” rating and set a $7.00 price target for the company. in a report on Tuesday, August 23rd. Zacks Investment Research upgraded shares of Hecla Mining from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a report on Tuesday, October 11th. Finally, FBR & Co upped their price objective on shares of Hecla Mining from $4.00 to $5.00 and gave the stock a “mkt perform” rating in a report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Hecla Mining presently has an average rating of “Hold” and a consensus price target of $6.04.
Hecla Mining (NYSE:HL) opened at 6.03 on Thursday. The stock’s 50 day moving average is $5.84 and its 200-day moving average is $5.46. Hecla Mining has a one year low of $1.45 and a one year high of $7.64. The firm’s market capitalization is $2.38 billion.
Hecla Mining (NYSE:HL) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. Hecla Mining had a negative net margin of 2.29% and a positive return on equity of 4.88%. The company earned $179.40 million during the quarter, compared to analyst estimates of $163.48 million. During the same period in the prior year, the business posted ($0.05) EPS. The firm’s revenue was up 70.9% compared to the same quarter last year. On average, analysts anticipate that Hecla Mining will post $0.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Monday, November 21st will be paid a $0.0025 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.01 annualized dividend and a dividend yield of 0.17%. Hecla Mining’s payout ratio is -24.99%.
In related news, VP David C. Sienko sold 13,722 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $5.85, for a total transaction of $80,273.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in HL. KCG Holdings Inc. purchased a new stake in shares of Hecla Mining during the third quarter valued at approximately $897,000. Laurion Capital Management LP purchased a new stake in shares of Hecla Mining during the third quarter valued at approximately $204,000. Morgan Stanley increased its stake in shares of Hecla Mining by 439.7% in the third quarter. Morgan Stanley now owns 4,892,161 shares of the company’s stock valued at $27,886,000 after buying an additional 3,985,755 shares during the period. Principal Financial Group Inc. increased its stake in shares of Hecla Mining by 1.1% in the third quarter. Principal Financial Group Inc. now owns 69,994 shares of the company’s stock valued at $399,000 after buying an additional 730 shares during the period. Finally, Spark Investment Management LLC purchased a new stake in shares of Hecla Mining during the third quarter valued at approximately $1,350,000. 57.74% of the stock is currently owned by 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.
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