Hecla Mining Company (HL) Given “Hold” Rating at BMO Capital Markets
BMO Capital Markets reiterated their hold rating on shares of Hecla Mining Company (NYSE:HL) in a research report report published on Wednesday. They currently have a $6.00 price objective on the basic materials company’s stock.
Other equities analysts have also issued reports about the stock. TheStreet raised shares of Hecla Mining from a c+ rating to a b rating in a research report on Monday, June 12th. HC Wainwright reaffirmed a buy rating and set a $8.00 price target on shares of Hecla Mining in a research report on Sunday, June 25th. Canaccord Genuity reaffirmed a hold rating and set a $5.00 price target on shares of Hecla Mining in a research report on Thursday, September 7th. ValuEngine raised shares of Hecla Mining from a sell rating to a hold rating in a research report on Friday, September 1st. Finally, Royal Bank Of Canada reaffirmed a hold rating and set a $6.00 price target on shares of Hecla Mining in a research report on Tuesday, May 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $6.35.
Shares of Hecla Mining (NYSE HL) opened at 5.13 on Wednesday. The company has a 50-day moving average of $5.11 and a 200-day moving average of $5.31. Hecla Mining has a 1-year low of $4.61 and a 1-year high of $7.64. The company has a market cap of $2.05 billion, a PE ratio of 41.71 and a beta of 0.40.
Hecla Mining (NYSE:HL) last released its quarterly earnings results on Thursday, August 3rd. The basic materials company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.05). Hecla Mining had a return on equity of 2.56% and a net margin of 7.88%. The business had revenue of $134.30 million for the quarter, compared to the consensus estimate of $130.54 million. During the same period in the prior year, the business posted $0.06 earnings per share. Hecla Mining’s revenue was down 21.6% compared to the same quarter last year. Equities analysts forecast that Hecla Mining will post $0.06 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Wednesday, August 23rd were issued a $0.0025 dividend. This represents a $0.01 annualized dividend and a yield of 0.19%. The ex-dividend date was Monday, August 21st. Hecla Mining’s dividend payout ratio is currently 7.69%.
A number of hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. increased its holdings in Hecla Mining by 5.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 34,608 shares of the basic materials company’s stock valued at $177,000 after buying an additional 1,643 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Hecla Mining by 2.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 97,242 shares of the basic materials company’s stock valued at $496,000 after buying an additional 2,784 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Hecla Mining by 2.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 299,458 shares of the basic materials company’s stock valued at $1,528,000 after buying an additional 6,899 shares during the period. Cubist Systematic Strategies LLC bought a new position in Hecla Mining in the 2nd quarter valued at about $377,000. Finally, Balyasny Asset Management LLC increased its holdings in Hecla Mining by 395.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 112,500 shares of the basic materials company’s stock valued at $574,000 after buying an additional 89,810 shares during the period. 59.35% of the stock is currently owned by hedge funds and other institutional investors.
About Hecla Mining
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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