Hecla Mining (HL) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Hecla Mining (NYSE:HL) from a buy rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

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. “

A number of other analysts have also recently commented on HL. Canaccord Genuity cut shares of Hecla Mining from a buy rating to a hold rating in a report on Tuesday, January 15th. HC Wainwright reaffirmed a buy rating and set a $5.50 target price on shares of Hecla Mining in a report on Wednesday, January 16th. Royal Bank of Canada cut shares of Hecla Mining from a sector perform rating to an underperform rating and reduced their target price for the company from $46.00 to $2.45 in a report on Thursday, January 17th. ValuEngine cut shares of Hecla Mining from a buy rating to a hold rating in a report on Tuesday, January 22nd. Finally, B. Riley reaffirmed a neutral rating and set a $3.00 target price (down from $3.50) on shares of Hecla Mining in a report on Friday, March 1st. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $3.19.

Shares of HL stock opened at $1.52 on Wednesday. Hecla Mining has a 12 month low of $1.49 and a 12 month high of $4.05. The company has a market cap of $734.21 million, a price-to-earnings ratio of -13.82 and a beta of 0.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.98 and a quick ratio of 0.56.

Hecla Mining (NYSE:HL) last announced its earnings results on Thursday, May 9th. The basic materials company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.02). Hecla Mining had a negative net margin of 10.40% and a negative return on equity of 3.74%. The business had revenue of $152.60 million for the quarter, compared to analysts’ expectations of $150.31 million. During the same period in the prior year, the company posted $0.02 earnings per share. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, research analysts predict that Hecla Mining will post -0.07 earnings per share for the current year.

The company also recently disclosed a dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, May 24th will be paid a $0.002 dividend. The ex-dividend date is Thursday, May 23rd. Hecla Mining’s dividend payout ratio (DPR) is presently -9.09%.

Several hedge funds and other institutional investors have recently made changes to their positions in HL. Wedbush Securities Inc. purchased a new stake in shares of Hecla Mining in the first quarter worth $25,000. Brookstone Capital Management purchased a new stake in shares of Hecla Mining in the fourth quarter worth $27,000. Piedmont Investment Advisors Inc. purchased a new stake in shares of Hecla Mining in the first quarter worth $32,000. Strategic Family Wealth Counselors L.L.C. purchased a new stake in shares of Hecla Mining in the fourth quarter worth $34,000. Finally, Timber Hill LLC purchased a new stake in shares of Hecla Mining in the fourth quarter worth $35,000. 61.57% of the stock is owned by hedge funds and other institutional investors.

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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