Royal Bank Of Canada Cuts Hecla Mining (NYSE:HL) Price Target to $20.00

Hecla Mining (NYSE:HL) had its target price cut by Royal Bank Of Canada from $24.00 to $20.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

Several other analysts also recently commented on HL. Scotiabank reduced their target price on Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Weiss Ratings upgraded Hecla Mining from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, September 8th. Jefferies Financial Group started coverage on Hecla Mining in a report on Thursday, August 20th. They set a “hold” rating and a $22.00 price objective for the company. Finally, Zacks Research upgraded Hecla Mining to a “hold” rating in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Hecla Mining currently has an average rating of “Hold” and an average price target of $23.34.

Hecla Mining Stock Down 0.1%

NYSE:HL opened at $18.93 on Wednesday. Hecla Mining has a twelve month low of $10.66 and a twelve month high of $34.17. The company has a fifty day moving average of $17.84 and a 200-day moving average of $17.87. The firm has a market capitalization of $12.72 billion, a P/E ratio of 38.64 and a beta of 1.38.

Hecla Mining (NYSE:HL) last issued its earnings results on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%.The company had revenue of $333.85 million for the quarter, compared to the consensus estimate of $368.75 million. During the same period in the prior year, the company earned $0.09 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, analysts anticipate that Hecla Mining will post 0.46 EPS for the current fiscal year.

Hecla Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 26th were paid a $0.0038 dividend. This represents a $0.01 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, August 26th. Hecla Mining’s payout ratio is currently 2.04%.

Institutional Investors Weigh In On Hecla Mining

Several institutional investors have recently made changes to their positions in HL. Root Financial Partners LLC boosted its stake in Hecla Mining by 26.9% in the 1st quarter. Root Financial Partners LLC now owns 2,540 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 538 shares during the period. Fifth Third Wealth Advisors LLC increased its position in shares of Hecla Mining by 4.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 16,844 shares of the basic materials company’s stock valued at $314,000 after buying an additional 722 shares during the period. Rothschild Investment LLC lifted its holdings in shares of Hecla Mining by 93.5% in the fourth quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company’s stock worth $31,000 after buying an additional 781 shares in the last quarter. XML Financial LLC lifted its holdings in shares of Hecla Mining by 7.1% in the first quarter. XML Financial LLC now owns 12,100 shares of the basic materials company’s stock worth $225,000 after buying an additional 800 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its position in shares of Hecla Mining by 5.3% in the first quarter. Ritholtz Wealth Management now owns 17,271 shares of the basic materials company’s stock valued at $322,000 after acquiring an additional 876 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Hecla Mining Company Profile

Hecla Mining Company (NYSE: HL) is a precious and base metals mining company focused primarily on the exploration, development, and production of silver, gold, lead, and zinc. The company sells concentrates and refined metals produced from its mining operations and also maintains a portfolio of exploration and development properties.

Founded in 1891, Hecla is one of the oldest U.S.-based mining companies. Its operating portfolio has included the Greens Creek silver, gold, lead, and zinc mine near Juneau, Alaska; the Lucky Friday silver, lead, and zinc mine in Idaho; the Keno Hill silver district in Yukon, Canada; and the Casa Berardi gold mine in Quebec, Canada.

Through these operations and related exploration activities, Hecla serves the North American metals market, with production and mineral assets located in the United States and Canada.