Hecla Mining (NYSE:HL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report 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 research analysts have also recently issued research reports about the company. BMO Capital Markets decreased their price target on Hecla Mining from $4.50 to $4.00 and set a “hold” rating on the stock in a research report on Tuesday. HC Wainwright decreased their price target on Hecla Mining to $7.50 and set a “buy” rating on the stock in a research report on Tuesday. B. Riley upgraded Hecla Mining from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Thursday, November 30th. ValuEngine cut Hecla Mining from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Finally, Canaccord Genuity restated a “buy” rating and issued a $5.00 price target on shares of Hecla Mining in a research report on Monday, January 8th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.14.
Hecla Mining (NYSE:HL) last issued its quarterly earnings results on Thursday, February 15th. The basic materials company reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.02. Hecla Mining had a positive return on equity of 2.17% and a negative net margin of 4.07%. The company had revenue of $160.10 million for the quarter, compared to analysts’ expectations of $156.85 million. During the same quarter last year, the business earned $0.03 earnings per share. Hecla Mining’s revenue was down 2.6% on a year-over-year basis. analysts expect that Hecla Mining will post 0.02 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in HL. Millennium Management LLC bought a new position in Hecla Mining in the fourth quarter valued at about $13,161,000. Alps Advisors Inc. boosted its stake in shares of Hecla Mining by 179.6% during the fourth quarter. Alps Advisors Inc. now owns 1,844,444 shares of the basic materials company’s stock valued at $7,322,000 after purchasing an additional 1,184,666 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Hecla Mining by 2.8% during the fourth quarter. BlackRock Inc. now owns 25,922,232 shares of the basic materials company’s stock valued at $102,911,000 after purchasing an additional 694,899 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Hecla Mining by 28.6% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 2,384,211 shares of the basic materials company’s stock valued at $9,465,000 after purchasing an additional 530,000 shares in the last quarter. Finally, Virtus Fund Advisers LLC boosted its stake in shares of Hecla Mining by 7.7% during the fourth quarter. Virtus Fund Advisers LLC now owns 7,197,246 shares of the basic materials company’s stock valued at $28,573,000 after purchasing an additional 515,890 shares in the last quarter. Hedge funds and other institutional investors own 59.98% of the company’s stock.
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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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