Hecla Mining (HL) Downgraded by Canaccord Genuity to Sell
Hecla Mining (NYSE:HL) was downgraded by stock analysts at Canaccord Genuity from a “hold” rating to a “sell” rating in a research note issued on Thursday, The Fly reports.
Several other analysts have also commented on the stock. HC Wainwright set a $7.00 price target on shares of Hecla Mining and gave the company a “buy” rating in a research report on Wednesday, September 26th. B. Riley dropped their price target on shares of Hecla Mining from $5.00 to $3.75 and set a “buy” rating on the stock in a research report on Thursday, September 20th. Zacks Investment Research lowered shares of Hecla Mining from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. ValuEngine upgraded shares of Hecla Mining from a “strong sell” rating to a “sell” rating in a research report on Monday, September 17th. Finally, Roth Capital assumed coverage on shares of Hecla Mining in a research report on Monday, September 10th. They set a “buy” rating and a $5.00 price target on the stock. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $4.67.
NYSE:HL opened at $2.79 on Thursday. The firm has a market capitalization of $1.33 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 139.50 and a beta of 0.19. Hecla Mining has a 1-year low of $2.59 and a 1-year high of $5.32. The company has a current ratio of 3.35, a quick ratio of 2.77 and a debt-to-equity ratio of 0.36.
Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its holdings in Hecla Mining by 13,731.8% during the second quarter. Tower Research Capital LLC TRC now owns 48,273 shares of the basic materials company’s stock valued at $168,000 after purchasing an additional 47,924 shares in the last quarter. GAM Holding AG purchased a new position in Hecla Mining during the second quarter valued at $186,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Hecla Mining during the second quarter valued at $208,000. Stevens Capital Management LP purchased a new position in Hecla Mining during the second quarter valued at $219,000. Finally, Xact Kapitalforvaltning AB lifted its holdings in Hecla Mining by 34.4% during the first quarter. Xact Kapitalforvaltning AB now owns 60,916 shares of the basic materials company’s stock valued at $224,000 after purchasing an additional 15,600 shares in the last quarter. Institutional investors own 51.95% of the company’s stock.
About Hecla Mining
Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal deposits worldwide. The company offers zinc, lead, and bulk flotation concentrates to custom smelters and brokers; and unrefined gold and silver bullion bars to precious metals traders.
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