Hecla Mining (NYSE:HL) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Hecla Mining (NYSE:HL) from a sell rating to a hold rating in a research note issued to investors on Tuesday, August 7th.

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. “

HL has been the topic of a number of other reports. ValuEngine cut Hecla Mining from a hold rating to a sell rating in a research note on Thursday, May 17th. HC Wainwright set a $8.00 price target on Hecla Mining and gave the company a buy rating in a research note on Tuesday, July 24th. B. Riley cut their target price on Hecla Mining from $5.30 to $5.00 and set a buy rating on the stock in a research report on Friday, May 11th. BMO Capital Markets set a $4.00 target price on Hecla Mining and gave the stock a hold rating in a research report on Friday, July 13th. Finally, JPMorgan Chase & Co. reiterated an overweight rating and set a $6.00 target price on shares of Hecla Mining in a research report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Hecla Mining presently has an average rating of Hold and a consensus price target of $4.78.

NYSE:HL traded up $0.04 during midday trading on Tuesday, reaching $2.84. The company had a trading volume of 2,955,800 shares, compared to its average volume of 4,517,389. The firm has a market cap of $1.35 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 65.31 and a beta of 0.15. Hecla Mining has a 12-month low of $2.62 and a 12-month high of $5.54. The company has a current ratio of 3.35, a quick ratio of 2.77 and a debt-to-equity ratio of 0.36.

Hecla Mining (NYSE:HL) last released its earnings results on Thursday, August 9th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter. Hecla Mining had a positive return on equity of 2.91% and a negative net margin of 1.02%. The firm had revenue of $147.30 million during the quarter, compared to analyst estimates of $143.33 million. During the same period last year, the business posted ($0.04) earnings per share. Hecla Mining’s revenue was up 9.7% compared to the same quarter last year. equities analysts forecast that Hecla Mining will post 0.04 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Friday, August 24th will be given a $0.0025 dividend. This represents a $0.01 annualized dividend and a yield of 0.35%. The ex-dividend date is Thursday, August 23rd. Hecla Mining’s dividend payout ratio (DPR) is presently 10.00%.

A number of hedge funds have recently modified their holdings of the stock. Xact Kapitalforvaltning AB increased its position in Hecla Mining by 34.4% in the 1st quarter. Xact Kapitalforvaltning AB now owns 60,916 shares of the basic materials company’s stock valued at $224,000 after acquiring an additional 15,600 shares during the period. NJ State Employees Deferred Compensation Plan boosted its holdings in Hecla Mining by 8.0% in the 1st quarter. NJ State Employees Deferred Compensation Plan now owns 270,000 shares of the basic materials company’s stock valued at $991,000 after purchasing an additional 20,000 shares in the last quarter. MetLife Investment Advisors LLC boosted its holdings in Hecla Mining by 13.2% in the 1st quarter. MetLife Investment Advisors LLC now owns 179,688 shares of the basic materials company’s stock valued at $659,000 after purchasing an additional 20,906 shares in the last quarter. LPL Financial LLC boosted its holdings in Hecla Mining by 23.7% in the 4th quarter. LPL Financial LLC now owns 121,847 shares of the basic materials company’s stock valued at $484,000 after purchasing an additional 23,306 shares in the last quarter. Finally, Financial Advocates Investment Management purchased a new stake in Hecla Mining in the 1st quarter valued at approximately $103,000. Hedge funds and other institutional investors own 51.95% of the company’s stock.

Hecla Mining Company Profile

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

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