Hecla Mining (NYSE:HL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday. The firm presently has a $4.50 price objective on the basic materials company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 6.13% from the company’s current price.
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 several other reports. Canaccord Genuity raised shares of Hecla Mining from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a research report on Tuesday, November 14th. BMO Capital Markets reissued a “hold” rating and issued a $6.00 target price on shares of Hecla Mining in a research report on Wednesday, September 20th. ValuEngine downgraded shares of Hecla Mining from a “hold” rating to a “sell” rating in a research report on Sunday. B. Riley upgraded shares of Hecla Mining from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a report on Thursday, November 30th. Finally, HC Wainwright restated a “buy” rating and set a $8.50 price target on shares of Hecla Mining in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $5.57.
Hecla Mining (NYSE:HL) opened at $4.24 on Wednesday. The stock has a market cap of $1,584.10, a P/E ratio of 56.71, a PEG ratio of 24.43 and a beta of 0.20. The company has a quick ratio of 2.15, a current ratio of 2.69 and a debt-to-equity ratio of 0.34. Hecla Mining has a 52 week low of $3.43 and a 52 week high of $6.78.
Hecla Mining (NYSE:HL) last released its earnings results on Tuesday, November 7th. The basic materials company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. The business had revenue of $140.80 million for the quarter, compared to the consensus estimate of $151.32 million. Hecla Mining had a net margin of 4.21% and a return on equity of 1.89%. The firm’s quarterly revenue was down 21.5% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share. research analysts expect that Hecla Mining will post 0.05 earnings per share for the current fiscal year.
In other Hecla Mining news, Director George R. Nethercutt, Jr. sold 62,500 shares of Hecla Mining stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $5.24, for a total value of $327,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodore Crumley bought 10,000 shares of Hecla Mining stock in a transaction on Thursday, December 7th. The stock was acquired at an average price of $3.49 per share, with a total value of $34,900.00. Following the completion of the purchase, the director now directly owns 126,536 shares of the company’s stock, valued at $441,610.64. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of HL. Ameriprise Financial Inc. lifted its stake in Hecla Mining by 15.6% in the second quarter. Ameriprise Financial Inc. now owns 23,302 shares of the basic materials company’s stock valued at $119,000 after acquiring an additional 3,143 shares during the last quarter. Pacad Investment Ltd. lifted its stake in Hecla Mining by 10.4% in the second quarter. Pacad Investment Ltd. now owns 27,500 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 2,600 shares during the last quarter. Advisor Group Inc. lifted its stake in Hecla Mining by 148.1% in the second quarter. Advisor Group Inc. now owns 27,741 shares of the basic materials company’s stock valued at $142,000 after acquiring an additional 16,561 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Hecla Mining by 5.0% in the second quarter. Ameritas Investment Partners Inc. now owns 34,608 shares of the basic materials company’s stock valued at $177,000 after acquiring an additional 1,643 shares during the last quarter. Finally, Virtu Financial LLC lifted its stake in shares of Hecla Mining by 550.7% in the third quarter. Virtu Financial LLC now owns 182,184 shares of the basic materials company’s stock worth $186,000 after buying an additional 154,185 shares during the last quarter. Hedge funds and other institutional investors own 60.28% of the company’s stock.
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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. It produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver.
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