Zacks Investment Research Upgrades Hecla Mining Co. (HL) to Buy
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 firm presently has a $5.75 target price on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.30% from the company’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. “
A number of other research firms also recently commented on HL. 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. 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. Finally, Rodman & Renshaw initiated coverage on shares of Hecla Mining in a research report on Tuesday, September 6th. They issued a “buy” rating and a $9.00 target price on the stock. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $5.51.
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Shares of Hecla Mining (NYSE:HL) traded down 2.85% on Tuesday, hitting $5.12. 6,262,685 shares of the company’s stock were exchanged. The stock’s market cap is $1.98 billion. The company’s 50-day moving average price is $5.69 and its 200 day moving average price is $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 announced its quarterly earnings data on Thursday, August 4th. The company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. Hecla Mining had a negative net margin of 9.44% and a positive return on equity of 1.54%. The business had revenue of $171.30 million for the quarter, compared to analyst estimates of $141.25 million. During the same period last year, the business earned ($0.05) EPS. The company’s revenue was up 64.4% on a year-over-year basis. On average, equities analysts predict that Hecla Mining will post $0.19 earnings per share for the current fiscal year.
In other news, VP David C. Sienko sold 13,722 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $5.85, for a total value of $80,273.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anthony P. Taylor sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $6.09, for a total transaction of $30,450.00. Following the completion of the sale, the director now owns 45,000 shares of the company’s stock, valued at approximately $274,050. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. boosted its stake in 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 valued at $26,971,000 after buying an additional 277,892 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Hecla Mining by 80.8% in the first quarter. Renaissance Technologies LLC now owns 737,084 shares of the company’s stock valued at $2,049,000 after buying an additional 329,515 shares during the period. Alps Advisors Inc. boosted its stake in shares of Hecla Mining by 41.3% in the second quarter. Alps Advisors Inc. now owns 335,771 shares of the company’s stock valued at $1,712,000 after buying an additional 98,092 shares during the period. 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 valued at $14,224,000 after buying an additional 2,777,991 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of Hecla Mining by 18.1% in the second quarter. California Public Employees Retirement System now owns 822,400 shares of the company’s stock valued at $4,194,000 after buying an additional 125,900 shares during the period. Institutional investors 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.
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