Hecla Mining (NYSE:HL) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Hecla Mining (NYSE:HL) from a hold rating to a buy rating in a report issued on Wednesday, MarketBeat.com reports. Canaccord Genuity Group currently has $24.00 price target on the basic materials company’s stock.

Several other equities research analysts have also recently issued reports on HL. Wall Street Zen cut shares of Hecla Mining from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 29th. Zacks Research cut Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, February 13th. HC Wainwright lifted their price target on Hecla Mining from $16.50 to $36.50 and gave the company a “buy” rating in a report on Tuesday, January 27th. BMO Capital Markets lifted their price target on Hecla Mining from $16.00 to $28.00 and gave the company a “market perform” rating in a report on Tuesday, January 27th. Finally, Scotiabank lifted their price target on Hecla Mining from $15.00 to $25.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Hecla Mining presently has an average rating of “Hold” and an average target price of $21.31.

Hecla Mining Price Performance

Hecla Mining stock opened at $18.03 on Wednesday. Hecla Mining has a 12-month low of $4.51 and a 12-month high of $34.17. The stock has a market capitalization of $12.09 billion, a P/E ratio of 36.80 and a beta of 1.26. The firm’s 50-day moving average is $19.84 and its two-hundred day moving average is $19.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.72 and a quick ratio of 2.22.

Hecla Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Monday, March 9th were paid a $0.0038 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, March 9th. Hecla Mining’s payout ratio is currently 2.04%.

Hedge Funds Weigh In On Hecla Mining

Hedge funds and other institutional investors have recently modified their holdings of the company. Lodestone Wealth Management LLC acquired a new position in shares of Hecla Mining in the 4th quarter valued at about $28,000. Quadrant Capital Group LLC lifted its stake in shares of Hecla Mining by 74.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,480 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 631 shares in the last quarter. Sittner & Nelson LLC acquired a new position in shares of Hecla Mining in the 4th quarter valued at about $29,000. UMB Bank n.a. lifted its stake in shares of Hecla Mining by 2,390.0% in the 3rd quarter. UMB Bank n.a. now owns 2,490 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 2,390 shares in the last quarter. Finally, Rothschild Investment LLC lifted its stake in shares of Hecla Mining by 93.5% in the 4th quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 781 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

About Hecla Mining

Hecla Mining Company, founded in 1891 and headquartered in Coeur d’Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d’Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.

The company’s principal operations are located in North America and Latin America.