Zacks: Brokerages Expect Hecla Mining Company (HL) Will Announce Quarterly Sales of $150.55 Million
Brokerages predict that Hecla Mining Company (NYSE:HL) will report sales of $150.55 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Hecla Mining’s earnings, with estimates ranging from $142.03 million to $155.13 million. Hecla Mining reported sales of $179.39 million in the same quarter last year, which indicates a negative year-over-year growth rate of 16.1%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 14th.
On average, analysts expect that Hecla Mining will report full year sales of $150.55 million for the current year, with estimates ranging from $594.69 million to $711.60 million. For the next year, analysts forecast that the firm will post sales of $739.27 million per share, with estimates ranging from $642.98 million to $843.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Hecla Mining.
Hecla Mining (NYSE:HL) last announced its earnings results on Thursday, August 3rd. The basic materials company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.05. The company 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 company’s quarterly revenue was down 21.6% compared to the same quarter last year. During the same period last year, the business earned $0.06 EPS.
A number of equities analysts have weighed in on the company. BidaskClub cut Hecla Mining from a “hold” rating to a “sell” rating in a report on Friday, June 16th. ValuEngine cut Hecla Mining from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Canaccord Genuity reiterated a “hold” rating and set a $5.00 target price on shares of Hecla Mining in a research note on Thursday. HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of Hecla Mining in a research report on Sunday, June 25th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $6.00 price target on shares of Hecla Mining in a research report on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.43.
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Several institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in shares of Hecla Mining by 37.6% in the 2nd quarter. Van ECK Associates Corp now owns 38,105,358 shares of the basic materials company’s stock valued at $194,337,000 after acquiring an additional 10,415,245 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Hecla Mining by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 33,366,407 shares of the basic materials company’s stock valued at $176,507,000 after buying an additional 225,517 shares during the last quarter. Vanguard Group Inc. grew its holdings in Hecla Mining by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 32,132,844 shares of the basic materials company’s stock valued at $163,877,000 after buying an additional 288,819 shares during the last quarter. BlackRock Inc. grew its holdings in Hecla Mining by 25,993.9% in the 1st quarter. BlackRock Inc. now owns 25,056,653 shares of the basic materials company’s stock valued at $132,549,000 after buying an additional 24,960,628 shares during the last quarter. Finally, State Street Corp grew its holdings in Hecla Mining by 17.2% in the 1st quarter. State Street Corp now owns 15,508,845 shares of the basic materials company’s stock valued at $82,046,000 after buying an additional 2,275,928 shares during the last quarter. 59.36% of the stock is owned by institutional investors.
Hecla Mining (NYSE:HL) opened at 5.23 on Monday. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 42.52 and a beta of 0.40. Hecla Mining has a 1-year low of $4.61 and a 1-year high of $7.64. The stock has a 50 day moving average of $5.15 and a 200 day moving average of $5.35.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Wednesday, August 23rd were paid a $0.0025 dividend. This represents a $0.01 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend was Monday, August 21st. Hecla Mining’s dividend payout ratio is currently 7.69%.
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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