Hecla Mining (NYSE:HL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $4.50 price target on the basic materials company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 8.70% from the stock’s current price.
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. “
A number of other analysts have also issued reports on the company. Canaccord Genuity raised Hecla Mining from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a report on Tuesday, November 14th. HC Wainwright reaffirmed a “buy” rating and issued a $8.50 target price on shares of Hecla Mining in a report on Friday, November 3rd. BMO Capital Markets initiated coverage on Hecla Mining in a report on Friday, November 17th. They issued a “market perform” rating and a $4.75 target price on the stock. B. Riley raised Hecla Mining from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Thursday, November 30th. Finally, ValuEngine lowered Hecla Mining from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Hecla Mining presently has a consensus rating of “Hold” and a consensus price target of $5.57.
Hecla Mining (NYSE:HL) last issued its quarterly earnings data on Tuesday, November 7th. The basic materials company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.02. The business had revenue of $140.80 million for the quarter, compared to analyst estimates of $151.32 million. Hecla Mining had a return on equity of 1.89% and a net margin of 4.21%. The firm’s revenue for the quarter was down 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 EPS. analysts predict that Hecla Mining will post 0.05 earnings per share for the current year.
In other news, Director Theodore Crumley acquired 10,000 shares of Hecla Mining stock in a transaction on Thursday, December 7th. The stock was bought at an average price of $3.49 per share, for a total transaction of $34,900.00. Following the transaction, the director now owns 126,536 shares of the company’s stock, valued at $441,610.64. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Phillips S. Baker, Jr. acquired 13,000 shares of Hecla Mining stock in a transaction on Thursday, December 14th. The stock was purchased at an average price of $3.76 per share, with a total value of $48,880.00. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in HL. Rhumbline Advisers lifted its position in shares of Hecla Mining by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 494,435 shares of the basic materials company’s stock worth $2,522,000 after buying an additional 14,968 shares during the period. SG Americas Securities LLC lifted its position in shares of Hecla Mining by 873.1% during the 2nd quarter. SG Americas Securities LLC now owns 146,270 shares of the basic materials company’s stock worth $746,000 after buying an additional 131,239 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Hecla Mining by 133.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,239,775 shares of the basic materials company’s stock worth $21,623,000 after buying an additional 2,425,493 shares during the period. Legal & General Group Plc lifted its position in shares of Hecla Mining by 15.7% during the 2nd quarter. Legal & General Group Plc now owns 147,355 shares of the basic materials company’s stock worth $751,000 after buying an additional 20,001 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Hecla Mining by 194.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 112,516 shares of the basic materials company’s stock worth $574,000 after buying an additional 74,366 shares during the period. Institutional investors own 60.28% of the company’s stock.
Hecla Mining Company Profile
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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