Hecla Mining Company (HL) Rating Increased to Hold at Zacks Investment Research
Hecla Mining Company (NYSE:HL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Hecla Mining Company is a leading low-cost U.S. silver producer with operating mines in Alaska and Idaho, and is a growing gold producer with an operating mine in Quebec, Canada. The Company also has exploration and pre-development properties in five world-class silver and gold mining districts in the U.S., Canada, and Mexico, and an exploration office and investments in early-stage silver exploration projects in Canada. “
Other research analysts have also issued research reports about the company. BMO Capital Markets reaffirmed a “hold” rating and set a $6.00 price objective on shares of Hecla Mining in a report on Wednesday, September 20th. ValuEngine raised Hecla Mining from a “sell” rating to a “hold” rating in a report on Friday, September 1st. HC Wainwright reaffirmed a “buy” rating and set a $8.50 price objective on shares of Hecla Mining in a report on Tuesday, August 29th. TheStreet lowered Hecla Mining from a “b-” rating to a “c” rating in a report on Thursday, August 3rd. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $5.25 price objective on shares of Hecla Mining in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.52.
Shares of Hecla Mining (NYSE:HL) opened at 5.23 on Wednesday. The firm has a 50-day moving average price of $5.17 and a 200 day moving average price of $5.33. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 42.52 and a beta of 0.32. Hecla Mining has a 52-week low of $4.61 and a 52-week high of $7.64.
Hecla Mining (NYSE:HL) last released its earnings results on Thursday, August 3rd. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.05). The company had revenue of $134.30 million during the quarter, compared to analyst estimates of $130.54 million. Hecla Mining had a net margin of 7.88% and a return on equity of 2.56%. The company’s revenue for the quarter was down 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 EPS. Analysts expect that Hecla Mining will post $0.06 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its holdings in Hecla Mining by 27.8% during the first quarter. Ameriprise Financial Inc. now owns 20,159 shares of the basic materials company’s stock worth $106,000 after acquiring an additional 4,384 shares during the period. Trexquant Investment LP purchased a new stake in Hecla Mining during the second quarter worth $124,000. Pacad Investment Ltd. boosted its position in Hecla Mining by 10.4% during the second quarter. Pacad Investment Ltd. now owns 27,500 shares of the basic materials company’s stock worth $140,000 after purchasing an additional 2,600 shares in the last quarter. Advisor Group Inc. boosted its position in Hecla Mining by 148.1% during the second quarter. Advisor Group Inc. now owns 27,741 shares of the basic materials company’s stock worth $142,000 after purchasing an additional 16,561 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Hecla Mining during the second quarter worth $143,000. 59.35% of the stock is currently owned by hedge funds and other institutional investors.
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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