Hecla Mining Company (HL) Given a $6.00 Price Target at Royal Bank Of Canada
Hecla Mining Company (NYSE:HL) received a $6.00 price target from Royal Bank Of Canada in a report issued on Wednesday. The brokerage presently has a “hold” rating on the basic materials company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 19.28% from the company’s current price.
HL has been the subject of several other reports. HC Wainwright reissued a “buy” rating and issued a $8.50 price objective on shares of Hecla Mining in a research report on Tuesday, August 29th. Zacks Investment Research cut Hecla Mining from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Canaccord Genuity reissued a “hold” rating and issued a $5.00 price objective on shares of Hecla Mining in a research report on Thursday, September 7th. ValuEngine cut Hecla Mining from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $6.00 price objective on shares of Hecla Mining in a research report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $6.52.
Hecla Mining (HL) traded down 0.40% on Wednesday, hitting $5.03. 2,545,320 shares of the stock were exchanged. The company’s 50 day moving average price is $5.19 and its 200-day moving average price is $5.33. Hecla Mining has a one year low of $4.61 and a one year high of $7.64. The company has a market cap of $2.01 billion, a P/E ratio of 40.89 and a beta of 0.32.
Hecla Mining (NYSE:HL) last announced its quarterly earnings results on Thursday, August 3rd. The basic materials company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.05). Hecla Mining had a net margin of 7.88% and a return on equity of 2.56%. The company had revenue of $134.30 million for the quarter, compared to analyst estimates of $130.54 million. During the same quarter last year, the business earned $0.06 EPS. The company’s revenue for the quarter was down 21.6% on a year-over-year basis. Equities research analysts predict that Hecla Mining will post $0.05 EPS for the current fiscal year.
In related news, Director George R. Nethercutt, Jr. sold 62,500 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $5.24, for a total value of $327,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of HL. Bank of New York Mellon Corp lifted its position in Hecla Mining by 7.4% in the first quarter. Bank of New York Mellon Corp now owns 1,814,282 shares of the basic materials company’s stock worth $9,597,000 after purchasing an additional 125,779 shares during the period. UBS Asset Management Americas Inc. lifted its position in Hecla Mining by 21.7% in the first quarter. UBS Asset Management Americas Inc. now owns 227,544 shares of the basic materials company’s stock worth $1,204,000 after purchasing an additional 40,512 shares during the period. Karp Capital Management Corp bought a new position in Hecla Mining in the first quarter worth $378,000. Ameriprise Financial Inc. lifted its position in Hecla Mining by 27.8% in the first quarter. Ameriprise Financial Inc. now owns 20,159 shares of the basic materials company’s stock worth $106,000 after purchasing an additional 4,384 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its position in Hecla Mining by 14.5% in the first quarter. Parametric Portfolio Associates LLC now owns 728,355 shares of the basic materials company’s stock worth $3,853,000 after purchasing an additional 92,081 shares during the period. 59.35% 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. 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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