Hecla Mining Co. (HL) Trading Down 4.7%
Hecla Mining Co. (NYSE:HL)’s share price was down 4.7% during trading on Monday . The company traded as low as $5.66 and last traded at $5.74, with a volume of 6,325,347 shares traded. The stock had previously closed at $6.02.
A number of equities analysts have commented on HL shares. CIBC cut shares of Hecla Mining from a “sector outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $2.50 to $2.75 in a research report on Friday, April 8th. BMO Capital Markets reaffirmed a “buy” rating on shares of Hecla Mining in a research report on Tuesday, July 12th. Zacks Investment Research raised shares of Hecla Mining from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research report on Tuesday, March 29th. FBR & Co lifted their price objective on shares of Hecla Mining from $4.00 to $5.00 and gave the stock a “mkt perform” rating in a research report on Wednesday, July 20th. Finally, Royal Bank Of Canada lifted their price objective on shares of Hecla Mining from $2.50 to $3.25 in a research report on Tuesday, April 12th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.26.
The company’s 50-day moving average price is $5.18 and its 200-day moving average price is $3.48. The company’s market capitalization is $2.19 billion.
Hecla Mining (NYSE:HL) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The business earned $131 million during the quarter, compared to the consensus estimate of $132.78 million. During the same quarter in the prior year, the business posted $0.03 earnings per share. Hecla Mining’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, analysts expect that Hecla Mining Co. will post $0.17 EPS for the current year.
In other news, Director George R. Nethercutt, Jr. sold 40,000 shares of Hecla Mining 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 sale, the director now directly owns 60,536 shares in the company, valued at approximately $302,680. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Anthony P. Taylor sold 5,000 shares of Hecla Mining stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $6.09, for a total value of $30,450.00. Following the completion of the sale, the director now owns 45,000 shares in the company, valued at $274,050. The disclosure for this sale can be found here.
Other large investors have modified their holdings of the company. California State Teachers Retirement System raised its stake in shares of Hecla Mining by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 686,324 shares of the company’s stock worth $1,297,000 after buying an additional 12,231 shares in the last quarter. Rhumbline Advisers raised its stake 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 in the last quarter. Finally, Royce & Associates LLC raised its stake 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 in 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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