Hecla Mining (HL) Expected to Post Quarterly Sales of $156.18 Million

Wall Street analysts expect Hecla Mining (NYSE:HL) to report $156.18 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Hecla Mining’s earnings, with the lowest sales estimate coming in at $143.60 million and the highest estimate coming in at $168.75 million. Hecla Mining posted sales of $139.71 million in the same quarter last year, which would indicate a positive year over year growth rate of 11.8%. The business is scheduled to report its next quarterly earnings report on Thursday, May 9th.

According to Zacks, analysts expect that Hecla Mining will report full year sales of $701.87 million for the current fiscal year, with estimates ranging from $625.87 million to $731.00 million. For the next financial year, analysts anticipate that the business will report sales of $885.30 million, with estimates ranging from $763.81 million to $952.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Hecla Mining.

Hecla Mining (NYSE:HL) last released its quarterly earnings results on Thursday, February 21st. The basic materials company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). Hecla Mining had a negative net margin of 4.68% and a negative return on equity of 2.13%. The company had revenue of $136.50 million during the quarter, compared to analyst estimates of $148.84 million. During the same quarter last year, the business earned ($0.07) EPS. The company’s revenue for the quarter was down 14.7% compared to the same quarter last year.

Several equities research analysts recently issued reports on HL shares. Zacks Investment Research downgraded Hecla Mining from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 12th. ValuEngine downgraded Hecla Mining from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Hecla Mining in a research note on Friday, February 15th. Canaccord Genuity downgraded Hecla Mining from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. Finally, B. Riley reissued a “neutral” rating and issued a $3.00 price objective (down from $3.50) on shares of Hecla Mining in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $4.28.

Large investors have recently made changes to their positions in the company. Van ECK Associates Corp lifted its position in shares of Hecla Mining by 1.9% during the 4th quarter. Van ECK Associates Corp now owns 60,487,065 shares of the basic materials company’s stock worth $142,749,000 after buying an additional 1,151,059 shares during the period. Vanguard Group Inc. raised its position in Hecla Mining by 19.8% in the 3rd quarter. Vanguard Group Inc. now owns 42,416,876 shares of the basic materials company’s stock valued at $118,343,000 after purchasing an additional 7,019,088 shares during the last quarter. Vanguard Group Inc raised its position in Hecla Mining by 19.8% in the 3rd quarter. Vanguard Group Inc now owns 42,416,876 shares of the basic materials company’s stock valued at $118,343,000 after purchasing an additional 7,019,088 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Hecla Mining by 11.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 36,181,949 shares of the basic materials company’s stock valued at $85,389,000 after purchasing an additional 3,640,249 shares during the last quarter. Finally, BlackRock Inc. raised its position in Hecla Mining by 0.9% in the 4th quarter. BlackRock Inc. now owns 32,792,082 shares of the basic materials company’s stock valued at $77,389,000 after purchasing an additional 278,529 shares during the last quarter. 60.94% of the stock is currently owned by institutional investors.

Shares of NYSE:HL traded up $0.02 during midday trading on Friday, reaching $2.25. The company had a trading volume of 73,086 shares, compared to its average volume of 5,538,719. The company has a quick ratio of 0.56, a current ratio of 1.21 and a debt-to-equity ratio of 0.32. Hecla Mining has a 1-year low of $2.17 and a 1-year high of $4.15. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -20.27 and a beta of 0.39.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.0025 per share. This represents a $0.01 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, March 4th. Hecla Mining’s payout ratio is presently -9.09%.

About Hecla Mining

Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal properties worldwide. The company offers lead, zinc, and bulk flotation concentrates to custom smelters and brokers; and unrefined gold and silver bullion bars to precious metals traders.

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