Hecla Mining Co. (HL) Downgraded by Zacks Investment Research
Hecla Mining Co. (NYSE:HL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.
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 research analysts also recently commented on HL. Royal Bank Of Canada increased their target price on shares of Hecla Mining from $3.25 to $4.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 31st. FBR & Co reaffirmed a “market perform” rating and issued a $6.00 target price (up from $5.00) on shares of Hecla Mining in a research report on Monday, August 8th. Scotiabank raised shares of Hecla Mining from an “underperform” rating to a “sector perform” rating and increased their target price for the company from $3.75 to $6.15 in a research report on Wednesday, July 13th. Deutsche Bank AG increased their target price on shares of Hecla Mining from $4.20 to $5.50 and gave the company a “hold” rating in a research report on Tuesday, August 9th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $10.00 target price on shares of Hecla Mining in a research report on Friday, August 5th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $5.60.
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Hecla Mining (NYSE:HL) traded up 1.43% during midday trading on Tuesday, hitting $5.67. 7,091,921 shares of the stock traded hands. The stock’s market cap is $2.19 billion. Hecla Mining has a one year low of $1.45 and a one year high of $7.26. The company has a 50-day moving average price of $6.23 and a 200 day moving average price of $4.73.
Hecla Mining (NYSE:HL) last posted its earnings results on Thursday, August 4th. The company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. The firm had revenue of $171.30 million for the quarter, compared to the consensus estimate of $141.25 million. Hecla Mining had a negative net margin of 9.44% and a positive return on equity of 1.54%. The company’s revenue was up 64.4% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. Equities research analysts anticipate that Hecla Mining will post $0.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Tuesday, August 23rd were paid a $0.0025 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend was Friday, August 19th. Hecla Mining’s dividend payout ratio (DPR) is presently -7.14%.
In other news, Director Anthony P. Taylor sold 6,921 shares of the firm’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $4.94, for a total value of $34,189.74. Following the completion of the sale, the director now owns 50,000 shares in the company, valued at approximately $247,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David C. Sienko sold 13,722 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $5.85, for a total transaction of $80,273.70. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Carnick & Kubik Group LLC bought a new stake in shares of Hecla Mining during the second quarter valued at approximately $214,000. Public Employees Retirement System of Ohio boosted its stake in shares of Hecla Mining by 0.6% in the second quarter. Public Employees Retirement System of Ohio now owns 23,781 shares of the company’s stock valued at $121,000 after buying an additional 143 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Hecla Mining by 5.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,810,979 shares of the company’s stock valued at $9,236,000 after buying an additional 99,119 shares during the period. Amalgamated Bank boosted its stake in shares of Hecla Mining by 4.7% in the second quarter. Amalgamated Bank now owns 41,665 shares of the company’s stock valued at $295,000 after buying an additional 1,877 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of Hecla Mining by 4.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 271,447 shares of the company’s stock valued at $1,384,000 after buying an additional 11,248 shares during the period. Institutional investors own 59.24% of the company’s stock.
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. The Company produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver at Greens Creek and Casa Berardi.
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