Hecla Mining (NYSE:HL) Given New $8.00 Price Target at CIBC

Hecla Mining (NYSE:HL) had its price objective boosted by CIBC from $7.50 to $8.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the basic materials company’s stock.

Several other equities analysts also recently commented on HL. BMO Capital Markets reaffirmed a “market perform” rating and set a $5.50 price objective (down from $7.50) on shares of Hecla Mining in a research note on Monday, May 5th. National Bankshares set a $7.00 price target on shares of Hecla Mining in a research note on Friday, June 13th. TD Securities decreased their price target on shares of Hecla Mining from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Roth Capital reissued a “neutral” rating and issued a $6.00 price target on shares of Hecla Mining in a research note on Tuesday, July 1st. Finally, National Bank Financial raised shares of Hecla Mining to a “hold” rating in a research note on Thursday, June 12th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $7.07.

Hecla Mining Stock Performance

Shares of NYSE:HL opened at $6.11 on Tuesday. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 55.51 and a beta of 1.47. The company has a 50-day moving average price of $5.64 and a 200-day moving average price of $5.55. The company has a current ratio of 1.43, a quick ratio of 0.75 and a debt-to-equity ratio of 0.25. Hecla Mining has a 12 month low of $4.41 and a 12 month high of $7.68.

Hecla Mining (NYSE:HL) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The firm had revenue of $261.34 million for the quarter, compared to the consensus estimate of $238.50 million. Hecla Mining had a net margin of 7.13% and a return on equity of 3.87%. The business’s revenue was up 37.9% on a year-over-year basis. During the same period last year, the company posted ($0.01) earnings per share. As a group, equities analysts anticipate that Hecla Mining will post 0.21 EPS for the current year.

Hecla Mining Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.0038 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $0.02 annualized dividend and a dividend yield of 0.25%. Hecla Mining’s payout ratio is 9.09%.

Insider Activity at Hecla Mining

In other news, VP Stuart Maurice Absolom sold 18,926 shares of Hecla Mining stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $6.66, for a total transaction of $126,047.16. Following the completion of the transaction, the vice president directly owned 59,410 shares in the company, valued at approximately $395,670.60. This trade represents a 24.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Catherine J. Boggs bought 20,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $4.99 per share, with a total value of $99,800.00. Following the completion of the acquisition, the director directly owned 348,169 shares of the company’s stock, valued at approximately $1,737,363.31. The trade was a 6.09% increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hecla Mining

Large investors have recently made changes to their positions in the business. Focus Partners Advisor Solutions LLC increased its position in shares of Hecla Mining by 10.9% during the first quarter. Focus Partners Advisor Solutions LLC now owns 21,657 shares of the basic materials company’s stock valued at $120,000 after acquiring an additional 2,135 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Hecla Mining by 13.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,883 shares of the basic materials company’s stock valued at $93,000 after acquiring an additional 2,169 shares in the last quarter. Baader Bank Aktiengesellschaft increased its position in shares of Hecla Mining by 6.4% during the second quarter. Baader Bank Aktiengesellschaft now owns 39,402 shares of the basic materials company’s stock valued at $236,000 after acquiring an additional 2,368 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Hecla Mining by 10.7% during the fourth quarter. Ameriprise Financial Inc. now owns 25,370 shares of the basic materials company’s stock valued at $125,000 after acquiring an additional 2,457 shares in the last quarter. Finally, Xponance Inc. increased its position in shares of Hecla Mining by 5.9% during the first quarter. Xponance Inc. now owns 45,092 shares of the basic materials company’s stock valued at $251,000 after acquiring an additional 2,525 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

About Hecla Mining

Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States, Canada, Japan, Korea, and China. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for custom smelters, metal traders, and third-party processors; and doré containing silver and gold.