Hecla Mining Co. (HL) Rating Lowered to Hold at Zacks Investment Research
Hecla Mining Co. (NYSE:HL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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. “
HL has been the topic of a number of other research reports. BMO Capital Markets downgraded Hecla Mining from a “market perform” rating to an “underperform” rating and set a $6.50 price objective on the stock. in a research report on Thursday, November 10th. They noted that the move was a valuation call. Rodman & Renshaw began coverage on Hecla Mining in a research report on Tuesday, September 6th. They set a “buy” rating and a $9.00 price objective on the stock. Vetr upgraded Hecla Mining from a “hold” rating to a “buy” rating and set a $6.84 price objective on the stock in a research report on Thursday, November 10th. JPMorgan Chase & Co. raised Hecla Mining from a “neutral” rating to an “overweight” rating and set a $8.00 target price for the company in a research note on Tuesday, August 9th. Finally, Deutsche Bank AG raised their target price on Hecla Mining from $4.20 to $5.50 and gave the stock a “hold” rating in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $6.04.
Shares of Hecla Mining (NYSE:HL) opened at 5.91 on Wednesday. The stock’s market capitalization is $2.34 billion. The firm has a 50 day moving average price of $5.95 and a 200 day moving average price of $5.59. Hecla Mining has a one year low of $1.45 and a one year high of $7.64.
Hecla Mining (NYSE:HL) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.07 EPS for the quarter, topping the Zacks’ 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 quarter last year, the business posted ($0.05) earnings per share. The firm’s revenue was up 70.9% compared to the same quarter last year. Analysts predict that Hecla Mining will post $0.20 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Monday, November 21st will be paid 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 payout ratio is -24.99%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI boosted its position 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 last quarter. California State Teachers Retirement System boosted its position 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 last quarter. Alps Advisors Inc. boosted its position 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 last quarter. Falcon Point Capital LLC bought a new position in Hecla Mining during the second quarter valued at approximately $134,000. Finally, Old Mutual Global Investors UK Ltd. boosted its position in 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. 60.08% 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. 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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