Hecla Mining Co. (HL) Upgraded at Zacks Investment Research
Hecla Mining Co. (NYSE:HL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $5.75 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 12.30% from the stock’s previous close.
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. “
Other research analysts also recently issued reports about the stock. Deutsche Bank AG lifted their target price 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. Rodman & Renshaw began coverage on shares of Hecla Mining in a research report on Tuesday, September 6th. They set a “buy” rating and a $9.00 price objective on the stock. FBR & Co reaffirmed a “market perform” rating and set a $6.00 price objective (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 boosted their price objective for the company from $3.75 to $6.15 in a research report on Wednesday, July 13th. Finally, JPMorgan Chase & Co. raised shares of Hecla Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price objective on the stock in a research report on Tuesday, August 9th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Hecla Mining presently has a consensus rating of “Hold” and a consensus target price of $5.51.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/hecla-mining-co-hl-upgraded-at-zacks-investment-research.html
Hecla Mining (NYSE:HL) traded down 2.85% on Tuesday, reaching $5.12. 6,262,685 shares of the company traded hands. The company’s market capitalization is $1.98 billion. The company has a 50-day moving average price of $5.69 and a 200-day moving average price of $5.02. Hecla Mining has a 12 month low of $1.45 and a 12 month high of $7.26.
Hecla Mining (NYSE:HL) last released its earnings results on Thursday, August 4th. The company reported $0.07 earnings per share 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 negative net margin of 9.44% and a positive return on equity of 1.54%. The firm’s quarterly revenue was up 64.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. Equities research analysts expect that Hecla Mining will post $0.19 EPS for the current year.
In other news, Director Anthony P. Taylor sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $6.09, for a total value of $30,450.00. Following the completion of the sale, the director now directly owns 45,000 shares in the company, valued at $274,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Phillips S. Baker, Jr. sold 392,863 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $7.05, for a total transaction of $2,769,684.15. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Hecla Mining by 45.9% in the second quarter. Dimensional Fund Advisors LP now owns 23,453,101 shares of the company’s stock worth $119,609,000 after buying an additional 7,379,724 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Hecla Mining by 9.8% in the second quarter. Van ECK Associates Corp now owns 50,543,657 shares of the company’s stock worth $257,773,000 after buying an additional 4,519,275 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Hecla Mining by 25,746.0% in the second quarter. Ameriprise Financial Inc. now owns 2,788,781 shares of the company’s stock worth $14,224,000 after buying an additional 2,777,991 shares during the last quarter. State Street Corp boosted its stake 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, Sprott Inc. boosted its stake in shares of Hecla Mining by 344.4% in the second quarter. Sprott Inc. now owns 2,371,423 shares of the company’s stock worth $12,094,000 after buying an additional 1,837,808 shares during the last quarter. Institutional investors and hedge funds own 57.97% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hecla Mining Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hecla Mining Co. and related companies with MarketBeat.com's FREE daily email newsletter.