Hecla Mining (NYSE:HL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
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. “
Other equities research analysts have also issued reports about the stock. B. Riley reissued a “neutral” rating on shares of Hecla Mining in a report on Wednesday, November 1st. HC Wainwright set a $9.00 price target on shares of Hecla Mining and gave the company a “buy” rating in a report on Thursday. ValuEngine lowered shares of Hecla Mining from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $5.00 price target on shares of Hecla Mining in a report on Monday, January 8th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Hecla Mining in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Hecla Mining currently has a consensus rating of “Hold” and an average price target of $5.61.
Hecla Mining (NYSE:HL) last announced its quarterly earnings data on Tuesday, November 7th. The basic materials company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The firm had revenue of $140.80 million for the quarter, compared to analyst estimates of $151.32 million. Hecla Mining had a net margin of 4.21% and a return on equity of 1.89%. The business’s quarterly revenue was down 21.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. equities research analysts forecast that Hecla Mining will post 0.05 EPS for the current fiscal year.
In other news, CEO Phillips S. Baker, Jr. bought 13,000 shares of the stock in a transaction dated Thursday, December 14th. The shares were acquired at an average cost of $3.76 per share, with a total value of $48,880.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Theodore Crumley bought 10,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were purchased at an average cost of $3.49 per share, for a total transaction of $34,900.00. Following the completion of the purchase, the director now owns 126,536 shares in the company, valued at $441,610.64. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of HL. Alliancebernstein L.P. boosted its stake in shares of Hecla Mining by 19.5% during the 2nd quarter. Alliancebernstein L.P. now owns 537,081 shares of the basic materials company’s stock worth $2,739,000 after acquiring an additional 87,500 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Hecla Mining by 6.0% during the 2nd quarter. Teachers Advisors LLC now owns 710,279 shares of the basic materials company’s stock worth $3,622,000 after acquiring an additional 40,511 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Hecla Mining by 15.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 23,302 shares of the basic materials company’s stock worth $119,000 after acquiring an additional 3,143 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Hecla Mining by 4.2% during the 2nd quarter. Amalgamated Bank now owns 49,967 shares of the basic materials company’s stock worth $255,000 after acquiring an additional 1,995 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Hecla Mining by 3.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 65,978 shares of the basic materials company’s stock worth $335,000 after acquiring an additional 1,934 shares in the last quarter. 60.29% of the stock is currently owned by institutional investors and hedge funds.
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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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