Hecla Mining (NYSE:HL) Price Target Raised to $32.00

Hecla Mining (NYSE:HL) had its price objective lifted by CIBC from $27.00 to $32.00 in a report published on Wednesday morning,Benzinga reports. CIBC currently has a neutral rating on the basic materials company’s stock.

HL has been the topic of several other research reports. Canaccord Genuity Group set a $26.50 price objective on Hecla Mining in a report on Friday, January 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Hecla Mining in a research report on Monday, December 29th. BMO Capital Markets boosted their price objective on Hecla Mining from $16.00 to $28.00 and gave the company a “market perform” rating in a research report on Tuesday. HC Wainwright increased their price objective on Hecla Mining from $16.50 to $36.50 and gave the company a “buy” rating in a research note on Tuesday. Finally, Zacks Research upgraded shares of Hecla Mining from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Hecla Mining presently has an average rating of “Hold” and an average target price of $22.00.

Hecla Mining Trading Down 14.5%

Shares of HL opened at $22.49 on Wednesday. Hecla Mining has a fifty-two week low of $4.46 and a fifty-two week high of $34.17. The firm has a market cap of $15.07 billion, a price-to-earnings ratio of 72.56 and a beta of 1.28. The firm has a 50 day moving average price of $21.14 and a 200-day moving average price of $14.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.51 and a current ratio of 2.15.

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

Hecla Mining Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, November 24th were issued a $0.0038 dividend. The ex-dividend date was Monday, November 24th. This represents a $0.02 annualized dividend and a yield of 0.1%. Hecla Mining’s payout ratio is 3.23%.

Insider Buying and Selling at Hecla Mining

In related news, VP Kurt Allen sold 52,219 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $21.91, for a total transaction of $1,144,118.29. Following the transaction, the vice president owned 216,641 shares in the company, valued at $4,746,604.31. The trade was a 19.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Russell Douglas Lawlar sold 148,372 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $15.00, for a total transaction of $2,225,580.00. Following the completion of the transaction, the chief financial officer directly owned 347,402 shares of the company’s stock, valued at approximately $5,211,030. The trade was a 29.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 426,679 shares of company stock valued at $7,678,773. 0.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Ninety One UK Ltd increased its stake in shares of Hecla Mining by 1.7% during the third quarter. Ninety One UK Ltd now owns 6,219,902 shares of the basic materials company’s stock valued at $75,261,000 after purchasing an additional 103,009 shares in the last quarter. Maryland State Retirement & Pension System bought a new stake in shares of Hecla Mining in the 3rd quarter worth approximately $1,150,000. Yousif Capital Management LLC purchased a new stake in shares of Hecla Mining in the 3rd quarter worth approximately $2,483,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Hecla Mining in the 2nd quarter worth approximately $2,256,000. Finally, TIAA Trust National Association increased its position in Hecla Mining by 176.4% during the 2nd quarter. TIAA Trust National Association now owns 41,519 shares of the basic materials company’s stock valued at $249,000 after buying an additional 26,499 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

Hecla Mining Company Profile

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.