Hecla Mining (HL) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Hecla Mining (NYSE:HL) from a strong sell rating to a hold rating in a research note released on Tuesday morning.
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. “
Several other equities analysts also recently weighed in on the stock. ValuEngine raised shares of Hecla Mining from a strong sell rating to a sell rating in a report on Monday, September 17th. JPMorgan Chase & Co. reaffirmed an overweight rating and set a $6.00 price target on shares of Hecla Mining in a report on Tuesday, July 24th. HC Wainwright set a $7.00 price target on shares of Hecla Mining and gave the company a buy rating in a report on Wednesday, October 24th. Canaccord Genuity downgraded shares of Hecla Mining from a hold rating to a sell rating in a report on Thursday, October 11th. Finally, BMO Capital Markets lowered their price target on shares of Hecla Mining from $3.20 to $3.00 and set a hold rating on the stock in a report on Wednesday, October 24th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Hecla Mining presently has an average rating of Buy and a consensus price target of $4.61.
Hecla Mining (NYSE:HL) last announced its earnings results on Thursday, November 8th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The business had revenue of $143.70 million for the quarter, compared to the consensus estimate of $149.34 million. Hecla Mining had a negative net margin of 5.18% and a positive return on equity of 0.60%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 earnings per share. Equities research analysts anticipate that Hecla Mining will post -0.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Tuesday, November 20th will be issued a $0.0025 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Monday, November 19th. Hecla Mining’s dividend payout ratio (DPR) is presently 10.00%.
Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley increased its position in Hecla Mining by 111.5% in the third quarter. Morgan Stanley now owns 3,810,126 shares of the basic materials company’s stock worth $10,631,000 after purchasing an additional 2,008,268 shares during the last quarter. Legal & General Group Plc increased its position in Hecla Mining by 39.8% during the third quarter. Legal & General Group Plc now owns 187,944 shares of the basic materials company’s stock valued at $524,000 after acquiring an additional 53,544 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in Hecla Mining by 4.8% during the third quarter. TIAA CREF Investment Management LLC now owns 1,306,711 shares of the basic materials company’s stock valued at $3,646,000 after acquiring an additional 59,809 shares during the last quarter. Teachers Advisors LLC increased its position in Hecla Mining by 17.0% during the third quarter. Teachers Advisors LLC now owns 907,397 shares of the basic materials company’s stock valued at $2,532,000 after acquiring an additional 131,706 shares during the last quarter. Finally, IndexIQ Advisors LLC increased its position in Hecla Mining by 102.3% during the third quarter. IndexIQ Advisors LLC now owns 92,262 shares of the basic materials company’s stock valued at $257,000 after acquiring an additional 46,646 shares during the last quarter. 59.07% of the stock is currently owned by hedge funds and other institutional investors.
Hecla Mining Company Profile
Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal deposits worldwide. The company offers zinc, lead, and bulk flotation concentrates to custom smelters and brokers; and unrefined gold and silver bullion bars to precious metals traders.
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