Hecla Mining (HL) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research downgraded shares of Hecla Mining (NYSE:HL) from a hold rating to a sell rating in a report issued on Friday morning.
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. “
Several other research analysts have also weighed in on HL. BMO Capital Markets set a $5.00 target price on shares of Hecla Mining and gave the stock a hold rating in a research report on Thursday, February 15th. Canaccord Genuity restated a buy rating and set a $5.00 target price on shares of Hecla Mining in a research report on Monday, January 8th. HC Wainwright set a $9.00 target price on shares of Hecla Mining and gave the stock a buy rating in a research report on Thursday, February 8th. ValuEngine lowered shares of Hecla Mining from a hold rating to a sell rating in a research report on Friday, February 2nd. Finally, Cantor Fitzgerald assumed coverage on shares of Hecla Mining in a research report on Monday, December 4th. They set a buy rating and a $5.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $5.64.
Hecla Mining (NYSE:HL) last issued its quarterly earnings results on Thursday, February 15th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Hecla Mining had a negative net margin of 4.07% and a positive return on equity of 2.17%. The business had revenue of $160.10 million for the quarter, compared to analyst estimates of $156.85 million. During the same period in the previous year, the business posted $0.03 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year. analysts expect that Hecla Mining will post 0.01 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Tuesday, March 6th will be given a dividend of $0.0025 per share. The ex-dividend date of this dividend is Monday, March 5th. This represents a $0.01 annualized dividend and a yield of 0.27%. Hecla Mining’s payout ratio is currently -7.14%.
In other Hecla Mining news, Director Theodore Crumley purchased 10,000 shares of Hecla Mining stock in a transaction on Thursday, December 7th. The shares were bought at an average price of $3.49 per share, with a total value of $34,900.00. Following the completion of the acquisition, the director now directly owns 126,536 shares of the company’s stock, valued at $441,610.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Phillips S. Baker, Jr. purchased 13,000 shares of Hecla Mining stock in a transaction on Thursday, December 14th. The stock was acquired at an average cost of $3.76 per share, for a total transaction of $48,880.00. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in HL. First Allied Advisory Services Inc. purchased a new stake in shares of Hecla Mining in the fourth quarter valued at about $108,000. Ameriprise Financial Inc. lifted its holdings in shares of Hecla Mining by 15.6% in the second quarter. Ameriprise Financial Inc. now owns 23,302 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 3,143 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new stake in shares of Hecla Mining in the fourth quarter valued at about $146,000. Ameritas Investment Partners Inc. lifted its holdings 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 purchasing an additional 1,643 shares in the last quarter. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of Hecla Mining in the fourth quarter valued at about $180,000. 57.99% of the stock is currently owned by institutional investors.
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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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