Hecla Mining Company (HL) Given Average Recommendation of “Hold” by Analysts
Shares of Hecla Mining Company (NYSE:HL) have been assigned a consensus recommendation of “Hold” from the nine analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.52.
HL has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $8.50 price target on shares of Hecla Mining in a report on Tuesday, August 29th. Zacks Investment Research downgraded shares of Hecla Mining from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Canaccord Genuity reaffirmed a “hold” rating and set a $5.00 price target on shares of Hecla Mining in a report on Thursday, September 7th. ValuEngine downgraded shares of Hecla Mining from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $6.00 price target on shares of Hecla Mining in a report on Wednesday, September 20th.
In related news, Director George R. Nethercutt, Jr. sold 62,500 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $5.24, for a total value of $327,500.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.50% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Van ECK Associates Corp lifted its holdings in Hecla Mining by 37.6% during the second quarter. Van ECK Associates Corp now owns 38,105,358 shares of the basic materials company’s stock valued at $194,337,000 after purchasing an additional 10,415,245 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Hecla Mining by 0.9% during the second quarter. Vanguard Group Inc. now owns 32,132,844 shares of the basic materials company’s stock valued at $163,877,000 after purchasing an additional 288,819 shares in the last quarter. BlackRock Inc. lifted its holdings in Hecla Mining by 25,993.9% during the first quarter. BlackRock Inc. now owns 25,056,653 shares of the basic materials company’s stock valued at $132,549,000 after purchasing an additional 24,960,628 shares in the last quarter. State Street Corp lifted its holdings in Hecla Mining by 17.2% during the first quarter. State Street Corp now owns 15,508,845 shares of the basic materials company’s stock valued at $82,046,000 after purchasing an additional 2,275,928 shares in the last quarter. Finally, BT Investment Management Ltd purchased a new position in Hecla Mining during the second quarter valued at approximately $77,979,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.
Hecla Mining (HL) opened at 4.72 on Wednesday. The company’s 50-day moving average is $5.08 and its 200 day moving average is $5.29. Hecla Mining has a 12-month low of $4.61 and a 12-month high of $7.64. The stock has a market capitalization of $1.88 billion, a PE ratio of 38.37 and a beta of 0.32.
Hecla Mining (NYSE:HL) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). The firm had revenue of $134.30 million for the quarter, compared to the consensus estimate of $130.54 million. Hecla Mining had a net margin of 7.88% and a return on equity of 2.56%. The firm’s revenue for the quarter was down 21.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 earnings per share. On average, equities research analysts expect that Hecla Mining will post $0.05 earnings per share for the current fiscal year.
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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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