Hecla Mining (NYSE:HL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday.
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. “
A number of other brokerages have also issued reports on HL. B. Riley restated a “neutral” rating on shares of Hecla Mining in a research note on Wednesday, November 1st. BMO Capital Markets restated a “hold” rating on shares of Hecla Mining in a research note on Wednesday, November 8th. ValuEngine lowered shares of Hecla Mining from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. HC Wainwright restated a “buy” rating and issued a $8.50 price target on shares of Hecla Mining in a research note on Friday, October 13th. Finally, Royal Bank of Canada set a $6.00 target price on shares of Hecla Mining and gave the company a “hold” rating in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $5.54.
Shares of Hecla Mining (NYSE HL) opened at $4.41 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.69 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1,791.59, a price-to-earnings ratio of 73.50, a P/E/G ratio of 28.97 and a beta of 0.20. Hecla Mining has a 12 month low of $3.43 and a 12 month high of $6.78.
Hecla Mining (NYSE:HL) last issued its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $140.80 million during the quarter, compared to analyst estimates of $151.32 million. Hecla Mining had a net margin of 4.21% and a return on equity of 1.89%. The business’s revenue was down 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 earnings per share. analysts expect that Hecla Mining will post 0.05 EPS for the current year.
In other Hecla Mining news, Director Theodore Crumley bought 10,000 shares of the stock in a transaction on Thursday, December 7th. The stock was purchased at an average price of $3.49 per share, for a total transaction of $34,900.00. Following the completion of the purchase, the director now directly owns 126,536 shares in the company, valued at $441,610.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Phillips S. Baker, Jr. purchased 13,000 shares of Hecla Mining stock in a transaction dated Thursday, December 14th. The shares were purchased at an average cost of $3.76 per share, with a total value of $48,880.00. The disclosure for this purchase can be found here. 1.50% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC boosted its holdings in shares of Hecla Mining by 550.7% during the third quarter. Virtu Financial LLC now owns 182,184 shares of the basic materials company’s stock valued at $186,000 after acquiring an additional 154,185 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Hecla Mining during the third quarter valued at $827,000. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Hecla Mining by 3.2% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 472,765 shares of the basic materials company’s stock valued at $2,373,000 after acquiring an additional 14,566 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Hecla Mining by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 33,535,987 shares of the basic materials company’s stock valued at $168,350,000 after acquiring an additional 198,411 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Hecla Mining by 7.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 2,169,981 shares of the basic materials company’s stock valued at $10,894,000 after acquiring an additional 158,683 shares during the period. 60.28% of the stock is owned by institutional investors.
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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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