Hecla Mining Company (HL) Receives $7.14 Average Price Target from Brokerages
Hecla Mining Company (NYSE:HL) has been assigned an average recommendation of “Hold” from the ten analysts that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $7.14.
Several equities analysts have weighed in on HL shares. TheStreet upgraded shares of Hecla Mining from a “c+” rating to a “b” rating in a report on Monday, June 12th. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Hecla Mining in a report on Sunday, June 25th. Royal Bank Of Canada reiterated a “hold” rating and issued a $6.00 target price on shares of Hecla Mining in a report on Tuesday, May 30th. ValuEngine lowered shares of Hecla Mining from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, Zacks Investment Research lowered shares of Hecla Mining from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th.
Several institutional investors have recently modified their holdings of HL. Ameritas Investment Partners Inc. raised its position in shares of Hecla Mining by 5.0% in the second 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 in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Hecla Mining by 2.9% in the second 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 in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Hecla Mining by 2.4% in the second 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 in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Hecla Mining during the second quarter valued at approximately $377,000. Finally, Balyasny Asset Management LLC raised its position in shares of Hecla Mining by 395.8% in the second 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 in the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.
Shares of Hecla Mining (NYSE HL) traded up 2.11% on Friday, reaching $4.97. 3,403,597 shares of the company traded hands. Hecla Mining has a 1-year low of $4.61 and a 1-year high of $7.64. The company has a 50-day moving average of $5.12 and a 200-day moving average of $5.48. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 40.41 and a beta of 0.44.
Hecla Mining (NYSE:HL) last posted its quarterly earnings results on Thursday, August 3rd. The basic materials company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $134.30 million for the quarter, compared to analyst estimates of $130.54 million. Hecla Mining had a return on equity of 2.56% and a net margin of 7.88%. The business’s revenue was down 21.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Analysts anticipate that Hecla Mining will post $0.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Wednesday, August 23rd will be issued a $0.0025 dividend. The ex-dividend date is Monday, August 21st. This represents a $0.01 annualized dividend and a yield of 0.20%. Hecla Mining’s payout ratio is 7.69%.
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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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