CIBC Boosts Hecla Mining (NYSE:HL) Price Target to $7.50

Hecla Mining (NYSE:HL) had its price objective hoisted by CIBC from $6.75 to $7.50 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the basic materials company’s stock.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright reaffirmed a buy rating and issued a $10.25 price objective on shares of Hecla Mining in a research note on Thursday, May 9th. Cantor Fitzgerald upgraded Hecla Mining to a strong-buy rating in a report on Thursday, May 9th. Roth Mkm raised their price target on Hecla Mining from $4.60 to $6.00 and gave the company a buy rating in a research report on Tuesday, April 9th. National Bank Financial restated an outperform market weight rating on shares of Hecla Mining in a report on Monday, April 8th. Finally, StockNews.com raised Hecla Mining to a sell rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Hecla Mining currently has a consensus rating of Moderate Buy and an average target price of $6.97.

Hecla Mining Stock Performance

HL opened at $5.64 on Wednesday. Hecla Mining has a 1-year low of $3.33 and a 1-year high of $6.29. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of -37.57 and a beta of 2.21. The business has a 50 day moving average price of $5.14 and a two-hundred day moving average price of $4.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.67 and a quick ratio of 1.00.

Hecla Mining Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Friday, May 24th will be given a $0.006 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Thursday, May 23rd. Hecla Mining’s dividend payout ratio is currently -20.00%.

Institutional Investors Weigh In On Hecla Mining

Large investors have recently made changes to their positions in the stock. Byrne Asset Management LLC acquired a new position in Hecla Mining during the first quarter worth approximately $34,000. Empowered Funds LLC raised its stake in Hecla Mining by 27.7% in the 1st quarter. Empowered Funds LLC now owns 13,447 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 2,916 shares during the period. Cornerstone Wealth Management LLC acquired a new position in shares of Hecla Mining in the fourth quarter valued at approximately $72,000. Banco Santander S.A. lifted its holdings in Hecla Mining by 15.6% during the 3rd quarter. Banco Santander S.A. now owns 18,687 shares of the basic materials company’s stock worth $73,000 after purchasing an additional 2,525 shares during the last quarter. Finally, Cetera Advisors LLC boosted its stake in Hecla Mining by 48.9% in the 1st quarter. Cetera Advisors LLC now owns 15,532 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 5,104 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Hecla Mining Company Profile

Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States, Canada, Japan, Korea, and China. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for custom smelters, metal traders, and third-party processors; and doré containing silver and gold.