Hecla Mining (NYSE:HL) Downgraded by Zacks Investment Research to “Strong Sell”

Zacks Investment Research downgraded shares of Hecla Mining (NYSE:HL) from a hold rating to a strong sell rating in a research report report published on Wednesday, Zacks.com reports.

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. “

Several other equities research analysts also recently issued reports on the company. Roth Capital assumed coverage on Hecla Mining in a research note on Monday, September 27th. They issued a buy rating and a $7.50 price objective for the company. HC Wainwright cut their price target on Hecla Mining from $7.75 to $7.50 and set a buy rating for the company in a research note on Wednesday, October 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $7.60.

Shares of NYSE HL opened at $5.08 on Wednesday. Hecla Mining has a 12 month low of $4.50 and a 12 month high of $9.44. The company has a quick ratio of 2.00, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $5.42 and a 200-day simple moving average of $5.88.

Hecla Mining (NYSE:HL) last announced its quarterly earnings data on Thursday, November 4th. The basic materials company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.21). The business had revenue of $193.60 million during the quarter, compared to analysts’ expectations of $181.65 million. Hecla Mining had a return on equity of 4.41% and a net margin of 2.41%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 earnings per share. Equities research analysts forecast that Hecla Mining will post 0.11 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 3rd. Stockholders of record on Friday, November 19th were issued a dividend of $0.0038 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Thursday, November 18th. Hecla Mining’s dividend payout ratio is -18.75%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ibex Wealth Advisors acquired a new stake in Hecla Mining in the 3rd quarter valued at approximately $29,000. US Bancorp DE lifted its position in shares of Hecla Mining by 162.4% in the 2nd quarter. US Bancorp DE now owns 4,695 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 2,906 shares during the period. Crestmont Private Wealth LLC bought a new stake in shares of Hecla Mining in the 4th quarter worth approximately $48,000. Harvest Investment Services LLC bought a new stake in shares of Hecla Mining in the 3rd quarter worth approximately $55,000. Finally, Ameritas Investment Company LLC bought a new stake in shares of Hecla Mining in the 3rd quarter worth approximately $55,000. 58.67% of the stock is currently owned by hedge funds and other institutional investors.

About Hecla Mining

Hecla Mining Co operates as a silver and gold production company. The firm produces lead, zinc and bulk concentrates for custom smelters and brokers; and develops unrefined precipitate and bullion bars for precious metals traders. It operates through the following business segments: The Greens Creek, The Lucky Friday, The Casa Berardi, The Nevada Operations, and The San Sebastian.

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