Hecla Mining Co. (HL) Reaches New 52-Week High at $6.38
Shares of Hecla Mining Co. (NYSE:HL) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $6.38 and last traded at $6.33, with a volume of 7,298,268 shares traded. The stock had previously closed at $6.18.
HL has been the topic of a number of research analyst reports. Royal Bank Of Canada lifted their price target on Hecla Mining from $2.50 to $3.25 in a research note on Tuesday, April 12th. Sterne Agee CRT reaffirmed a “neutral” rating on shares of Hecla Mining in a research note on Monday, May 16th. Scotiabank lowered Hecla Mining from a “sector perform” rating to an “underperform” rating in a research note on Monday, April 11th. Zacks Investment Research raised Hecla Mining from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research note on Monday, July 11th. Finally, FBR & Co lifted their price target on Hecla Mining from $4.00 to $5.00 and gave the stock a “mkt perform” rating in a research note on Wednesday, July 20th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $4.26.
The firm’s market cap is $2.49 billion. The company’s 50 day moving average price is $5.41 and its 200-day moving average price is $3.63.
Hecla Mining (NYSE:HL) last issued its earnings results on Thursday, May 5th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. During the same period last year, the company posted $0.03 earnings per share. The business had revenue of $131 million for the quarter, compared to analysts’ expectations of $132.78 million. The business’s quarterly revenue was up 10.0% on a year-over-year basis. Analysts expect that Hecla Mining Co. will post $0.18 EPS for the current fiscal year.
In related news, Director George R. Nethercutt, Jr. sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $5.00, for a total value of $200,000.00. Following the completion of the transaction, the director now directly owns 60,536 shares of the company’s stock, valued at approximately $302,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anthony P. Taylor sold 6,921 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $4.94, for a total value of $34,189.74. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $247,000. The disclosure for this sale can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LLC increased its position in Hecla Mining by 1.1% in the fourth quarter. Royce & Associates LLC now owns 2,917,818 shares of the company’s stock valued at $5,515,000 after buying an additional 31,000 shares during the last quarter. Rhumbline Advisers increased its position in Hecla Mining by 4.2% in the fourth quarter. Rhumbline Advisers now owns 544,620 shares of the company’s stock valued at $1,029,000 after buying an additional 21,985 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in Hecla Mining by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 686,324 shares of the company’s stock valued at $1,297,000 after buying an additional 12,231 shares during the last quarter.
Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Company operates in three segments: the Greens Creek, Lucky Friday, and Casa Berardi units. It focuses on its San Sebastian project, which is located in Mexico; North Idaho’s Silver Valley, which is located in Coeur d’Alene Mining District; Greens Creek unit on Alaska’s Admiralty Island, which is located near Juneau; the silver-producing district near Durango, which is located in Mexico; the Abitibi region of north-western Quebec, which is located in Canada, and the Creede district of Southwestern Colorado.
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