Hecla Mining Company (HL) Earns Hold Rating from Canaccord Genuity
Hecla Mining Company (NYSE:HL)‘s stock had its “hold” rating reiterated by equities researchers at Canaccord Genuity in a research note issued on Thursday. They presently have a $5.00 price target on the basic materials company’s stock. Canaccord Genuity’s target price points to a potential downside of 8.42% from the stock’s current price.
Several other research firms also recently weighed in on HL. Royal Bank Of Canada reissued a “hold” rating and issued a $6.00 target price on shares of Hecla Mining in a report on Tuesday, May 30th. Zacks Investment Research downgraded Hecla Mining from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. HC Wainwright reissued a “buy” rating and issued a $8.50 target price on shares of Hecla Mining in a report on Tuesday, August 29th. ValuEngine raised Hecla Mining from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, TheStreet downgraded Hecla Mining from a “b-” rating to a “c” rating in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Hecla Mining has an average rating of “Hold” and a consensus target price of $6.43.
Hecla Mining (NYSE HL) traded down 0.18% during midday trading on Thursday, reaching $5.45. The company’s stock had a trading volume of 2,965,187 shares. Hecla Mining has a 1-year low of $4.61 and a 1-year high of $7.64. The stock’s 50-day moving average price is $5.15 and its 200 day moving average price is $5.35. The firm has a market capitalization of $2.17 billion, a PE ratio of 44.31 and a beta of 0.40.
Hecla Mining (NYSE:HL) last announced its quarterly earnings results on Thursday, August 3rd. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.05. The business had revenue of $134.30 million for the quarter, compared to analysts’ expectations of $130.54 million. Hecla Mining had a return on equity of 2.56% and a net margin of 7.88%. The firm’s quarterly revenue was down 21.6% on a year-over-year basis. During the same period last year, the firm earned $0.06 earnings per share. Equities analysts anticipate that Hecla Mining will post $0.06 EPS for the current fiscal year.
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Institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its holdings in shares of Hecla Mining by 27.8% in the 1st quarter. Ameriprise Financial Inc. now owns 20,159 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 4,384 shares during the last quarter. Trexquant Investment LP purchased a new stake in Hecla Mining during the 2nd quarter valued at approximately $124,000. Pacad Investment Ltd. raised its stake in Hecla Mining by 10.4% during the 2nd quarter. Pacad Investment Ltd. now owns 27,500 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 2,600 shares during the last quarter. Advisor Group Inc. raised its stake in Hecla Mining by 148.1% during the 2nd quarter. Advisor Group Inc. now owns 27,741 shares of the basic materials company’s stock valued at $142,000 after acquiring an additional 16,561 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Hecla Mining during the 2nd quarter valued at approximately $143,000. 59.36% of the stock is owned by institutional investors and hedge funds.
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. 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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