Hecla Mining Co. (HL) Rating Lowered to Hold at 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 report issued to clients and investors 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. “
Several other research analysts also recently commented on the company. Rodman & Renshaw began coverage on Hecla Mining in a report on Tuesday, September 6th. They issued a “buy” rating and a $9.00 target price on the stock. BMO Capital Markets downgraded Hecla Mining from an “outperform” rating to a “market perform” rating and set a $7.00 target price on the stock. in a report on Tuesday, August 23rd. Deutsche Bank AG boosted their price objective on shares of Hecla Mining from $4.20 to $5.50 and gave the stock a “hold” rating in a research report on Tuesday, August 9th. JPMorgan Chase & Co. upgraded shares of Hecla Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price objective for the company in a research report on Tuesday, August 9th. Finally, FBR & Co boosted their price objective on shares of Hecla Mining from $5.00 to $6.00 and gave the stock a “mkt perform” rating in a research report on Tuesday, August 9th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Hecla Mining currently has a consensus rating of “Hold” and a consensus target price of $5.60.
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Shares of Hecla Mining (NYSE:HL) traded up 1.43% during mid-day trading on Tuesday, hitting $5.67. The stock had a trading volume of 7,091,921 shares. The stock’s market capitalization is $2.19 billion. The stock’s 50-day moving average price is $6.23 and its 200-day moving average price is $4.73. Hecla Mining has a 12-month low of $1.45 and a 12-month high of $7.26.
Hecla Mining (NYSE:HL) last announced its earnings results on Thursday, August 4th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. The business had revenue of $171.30 million for the quarter, compared to the consensus estimate of $141.25 million. Hecla Mining had a positive return on equity of 1.54% and a negative net margin of 9.44%. Hecla Mining’s revenue was up 64.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) EPS. On average, equities analysts anticipate that Hecla Mining will post $0.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Tuesday, August 23rd were given a $0.0025 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend was Friday, August 19th. Hecla Mining’s dividend payout ratio is currently -7.14%.
In related news, CEO Phillips S. Baker, Jr. sold 392,863 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $7.05, for a total value of $2,769,684.15. The sale 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 company’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 corporate insiders.
A number of institutional investors have recently made changes to their positions in the company. OLD National Bancorp IN raised its position in shares of Hecla Mining by 8.8% in the first quarter. OLD National Bancorp IN now owns 97,691 shares of the company’s stock worth $272,000 after buying an additional 7,917 shares during the last quarter. BlackRock Group LTD raised its position in shares of Hecla Mining by 15.6% in the first quarter. BlackRock Group LTD now owns 362,836 shares of the company’s stock worth $1,009,000 after buying an additional 49,079 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Hecla Mining by 2.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,701,953 shares of the company’s stock worth $26,971,000 after buying an additional 277,892 shares during the last quarter. State Street Corp raised its position in shares of Hecla Mining by 17.7% in the first quarter. State Street Corp now owns 13,529,297 shares of the company’s stock worth $37,612,000 after buying an additional 2,033,796 shares during the last quarter. Finally, Adirondack Research & Management Inc. raised its position in shares of Hecla Mining by 25.8% in the first quarter. Adirondack Research & Management Inc. now owns 609,125 shares of the company’s stock worth $1,693,000 after buying an additional 125,000 shares during the last quarter. 59.24% of the stock is owned by hedge funds and other institutional investors.
About Hecla Mining
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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