Hecla Mining’s (HL) “Buy” Rating Reiterated at HC Wainwright
HC Wainwright reaffirmed their buy rating on shares of Hecla Mining Company (NYSE:HL) in a research report sent to investors on Friday morning. They currently have a $8.50 price objective on the basic materials company’s stock.
HL has been the topic of several other reports. Zacks Investment Research cut shares of Hecla Mining from a hold rating to a sell rating in a report on Wednesday, July 12th. Canaccord Genuity reaffirmed a hold rating and issued a $5.00 price target on shares of Hecla Mining in a report on Thursday, September 7th. ValuEngine raised shares of Hecla Mining from a sell rating to a hold rating in a report on Friday, September 1st. Royal Bank Of Canada set a $6.00 price target on shares of Hecla Mining and gave the company a hold rating in a report on Wednesday, October 18th. Finally, TheStreet cut shares of Hecla Mining from a b- rating to a c rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $6.52.
Hecla Mining (NYSE HL) opened at $4.51 on Friday. Hecla Mining has a 12-month low of $4.43 and a 12-month high of $7.64. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.14 and a current ratio of 2.56. The company has a market cap of $1,775.63, a price-to-earnings ratio of 44.50, a PEG ratio of 85.58 and a beta of 0.31.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 21st will be paid a dividend of $0.0025 per share. This represents a $0.01 annualized dividend and a yield of 0.22%. Hecla Mining’s payout ratio is 7.69%.
In other Hecla Mining news, Director George R. Nethercutt, Jr. sold 62,500 shares of the business’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $5.24, for a total transaction of $327,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in HL. BlackRock Inc. grew its position in shares of Hecla Mining by 25,993.9% during the first quarter. BlackRock Inc. now owns 25,056,653 shares of the basic materials company’s stock worth $132,549,000 after acquiring an additional 24,960,628 shares during the last quarter. BT Investment Management Ltd bought a new position in shares of Hecla Mining during the second quarter worth about $77,979,000. Van ECK Associates Corp grew its position in shares of Hecla Mining by 37.6% during the second quarter. Van ECK Associates Corp now owns 38,105,358 shares of the basic materials company’s stock worth $194,337,000 after acquiring an additional 10,415,245 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Hecla Mining by 133.7% during the second 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 acquiring an additional 2,425,493 shares during the last quarter. Finally, State Street Corp grew its position in shares of Hecla Mining by 17.2% during the first quarter. State Street Corp now owns 15,508,845 shares of the basic materials company’s stock worth $82,046,000 after acquiring an additional 2,275,928 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.
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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