Vetr Inc. Upgrades Hecla Mining Co. (HL) to Strong-Buy
Hecla Mining Co. (NYSE:HL) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday. The brokerage currently has a $6.84 price target on the stock. Vetr‘s target price points to a potential upside of 9.62% from the stock’s previous close.
Several other research analysts also recently 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 objective for the company in a research report on Tuesday, August 9th. Rodman & Renshaw started 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 downgraded 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, Canaccord Genuity started coverage on shares of Hecla Mining in a report on Tuesday, October 25th. They set a “hold” rating and a $6.00 price target for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Hecla Mining has a consensus rating of “Hold” and a consensus target price of $6.04.
Hecla Mining (NYSE:HL) opened at 6.24 on Monday. The company’s market capitalization is $2.47 billion. Hecla Mining has a 52-week low of $1.45 and a 52-week high of $7.64. The stock has a 50 day moving average price of $6.00 and a 200 day moving average price of $5.64.
Hecla Mining (NYSE:HL) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.07 EPS for the quarter, beating the 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 business earned $179.40 million during the quarter, compared to the consensus estimate of $163.48 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The company’s revenue was up 70.9% on a year-over-year basis. Analysts anticipate that Hecla Mining will post $0.20 EPS for the current fiscal year.
The company also recently declared 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 dividend on an annualized basis and a yield of 0.16%. Hecla Mining’s dividend payout ratio (DPR) is currently -24.99%.
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Hedge funds have recently modified their holdings of the stock. Brookfield Asset Management Inc. purchased a new stake in shares of Hecla Mining during the third quarter worth approximately $3,848,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Hecla Mining by 57.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 243,400 shares of the company’s stock worth $1,387,000 after buying an additional 88,900 shares during the period. LPL Financial LLC boosted its stake in shares of Hecla Mining by 24.2% in the third quarter. LPL Financial LLC now owns 43,686 shares of the company’s stock worth $225,000 after buying an additional 8,516 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Hecla Mining by 683.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 239,175 shares of the company’s stock worth $1,363,000 after buying an additional 208,650 shares during the period. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Hecla Mining during the third quarter worth approximately $633,000. 53.62% of the stock is currently owned by institutional investors and hedge funds.
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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