Canaccord Genuity Group Downgrades Hecla Mining (NYSE:HL) to Hold

Hecla Mining (NYSE:HL) was downgraded by stock analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a report released on Friday, Marketbeat.com reports.

A number of other research firms have also issued reports on HL. Wall Street Zen raised Hecla Mining from a “hold” rating to a “buy” rating in a report on Sunday, November 2nd. Scotiabank initiated coverage on shares of Hecla Mining in a research note on Thursday, November 13th. They issued a “sector perform” rating and a $15.00 price objective on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Hecla Mining in a report on Monday, December 29th. Roth Mkm set a $8.75 target price on shares of Hecla Mining and gave the stock a “sell” rating in a report on Friday, October 3rd. Finally, HC Wainwright upped their price target on Hecla Mining from $12.50 to $16.50 and gave the company a “buy” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.72.

Hecla Mining Price Performance

Shares of NYSE:HL opened at $31.79 on Friday. The stock has a market cap of $21.30 billion, a price-to-earnings ratio of 102.54 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.15 and a quick ratio of 1.51. Hecla Mining has a 12 month low of $4.46 and a 12 month high of $32.16. The stock’s 50 day moving average price is $19.83 and its 200 day moving average price is $13.44.

Hecla Mining (NYSE:HL) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. Hecla Mining had a return on equity of 7.87% and a net margin of 16.35%.The company had revenue of $409.54 million for the quarter, compared to analysts’ expectations of $315.60 million. The firm’s revenue for the quarter was up 67.1% on a year-over-year basis. During the same period last year, the firm earned $0.03 EPS. Equities research analysts anticipate that Hecla Mining will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP David C. Sienko sold 207,553 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $19.42, for a total value of $4,030,679.26. Following the completion of the sale, the vice president owned 906,370 shares of the company’s stock, valued at $17,601,705.40. This trade represents a 18.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Kurt Allen sold 52,219 shares of Hecla Mining stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $21.91, for a total value of $1,144,118.29. Following the transaction, the vice president owned 216,641 shares in the company, valued at $4,746,604.31. This represents a 19.42% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 426,679 shares of company stock valued at $7,678,773. Company insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Hecla Mining

A number of institutional investors have recently bought and sold shares of the business. Lodestone Wealth Management LLC acquired a new position in shares of Hecla Mining in the 4th quarter valued at about $28,000. USA Financial Formulas acquired a new stake in shares of Hecla Mining during the third quarter worth approximately $25,000. UMB Bank n.a. grew its position in Hecla Mining by 2,390.0% during the third quarter. UMB Bank n.a. now owns 2,490 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 2,390 shares in the last quarter. Stone House Investment Management LLC increased its stake in Hecla Mining by 449.0% in the 4th quarter. Stone House Investment Management LLC now owns 2,811 shares of the basic materials company’s stock valued at $54,000 after buying an additional 2,299 shares during the period. Finally, MAI Capital Management purchased a new stake in Hecla Mining in the 3rd quarter worth approximately $39,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

About Hecla Mining

Hecla Mining Company, founded in 1891 and headquartered in Coeur d’Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d’Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.

The company’s principal operations are located in North America and Latin America.