Hecla Mining (NYSE:HL) Stock Gets Price Target Cut from Scotiabank

Hecla Mining (NYSE:HL) had its price objective cut by Scotiabank from $21.00 to $20.00 in a report published on Wednesday,Benzinga reports. They currently have a sector perform rating on the basic materials company’s stock.

A number of other research analysts also recently weighed in on the company. Royal Bank Of Canada lowered their price target on Hecla Mining from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, September 16th. Zacks Research upgraded Hecla Mining to a “hold” rating in a research report on Friday, July 17th. Jefferies Financial Group assumed coverage on Hecla Mining in a research note on Thursday, August 20th. They set a “hold” rating and a $22.00 target price on the stock. Finally, Weiss Ratings cut Hecla Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.22.

Hecla Mining Stock Performance

Shares of NYSE:HL traded up $0.27 during mid-day trading on Wednesday, hitting $14.72. The stock had a trading volume of 27,492,840 shares, compared to its average volume of 29,648,442. The company’s 50 day moving average is $17.04 and its 200-day moving average is $18.43. Hecla Mining has a 12-month low of $12.80 and a 12-month high of $34.17. The company has a market cap of $9.89 billion, a PE ratio of 26.29 and a beta of 1.44.

Hecla Mining (NYSE:HL) last posted its quarterly earnings data on Tuesday, November 3rd. The basic materials company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.08. The firm had revenue of $394.82 million for the quarter, compared to analysts’ expectations of $340.10 million. Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS. On average, equities research analysts predict that Hecla Mining will post 0.46 EPS for the current fiscal year.

Hecla Mining Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Monday, November 23rd will be issued a dividend of $0.0037 per share. This represents a $0.01 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Monday, November 23rd. Hecla Mining’s payout ratio is currently 1.79%.

Hedge Funds Weigh In On Hecla Mining

A number of hedge funds have recently modified their holdings of HL. BlackRock Inc. acquired a new stake in Hecla Mining during the second quarter valued at $1,085,779,000. Van ECK Associates Corp increased its position in Hecla Mining by 15.3% in the 2nd quarter. Van ECK Associates Corp now owns 38,174,114 shares of the basic materials company’s stock worth $589,027,000 after purchasing an additional 5,053,624 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Hecla Mining in the 2nd quarter worth about $64,124,000. Renaissance Technologies LLC acquired a new position in Hecla Mining in the 1st quarter worth about $72,659,000. Finally, Empowered Funds LLC purchased a new stake in shares of Hecla Mining during the 2nd quarter worth about $22,599,000. 63.01% of the stock is owned by institutional investors and hedge funds.

About Hecla Mining

Hecla Mining Company (NYSE: HL) is a precious and base metals mining company that explores for, develops, and produces silver, gold, lead, and zinc. The company also undertakes activities related to mineral processing, mine development, and exploration of additional mineral resources.

Founded in 1891, Hecla is headquartered in Coeur d’Alene, Idaho, and is one of the oldest mining companies listed on the New York Stock Exchange. Its operating portfolio has included the Greens Creek silver-gold-lead-zinc mine in Alaska, the Lucky Friday silver-lead-zinc mine in Idaho, the Casa Berardi gold mine in Quebec, and the Keno Hill silver operations in Yukon, Canada.

Through its mines and exploration projects in the United States and Canada, Hecla supplies silver and other metals to industrial, investment, and manufacturing markets.