Hecla Mining (NYSE:HL) Upgraded to Hold at Zacks Investment Research

Hecla Mining (NYSE:HL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, 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. “

Several other research analysts also recently weighed in on HL. TheStreet downgraded shares of Hecla Mining from a “b-” rating to a “c” rating in a report on Monday, June 28th. HC Wainwright reaffirmed a “buy” rating and issued a $7.75 target price on shares of Hecla Mining in a report on Wednesday, July 14th. CIBC boosted their price target on shares of Hecla Mining from $7.50 to $8.95 and gave the stock a “neutral” rating in a research note on Wednesday, May 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $6.62 price target on shares of Hecla Mining in a research note on Monday, July 26th. Finally, Cantor Fitzgerald upgraded shares of Hecla Mining from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Wednesday, September 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $7.51.

Shares of HL stock remained flat at $$6.15 during mid-day trading on Tuesday. 5,520,923 shares of the stock were exchanged, compared to its average volume of 8,940,882. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 87.86, a PEG ratio of 33.61 and a beta of 2.17. The company has a quick ratio of 1.92, a current ratio of 2.56 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average price is $6.32 and its 200 day moving average price is $6.87. Hecla Mining has a 12-month low of $4.32 and a 12-month high of $9.44.

Hecla Mining (NYSE:HL) last issued its earnings results on Thursday, August 5th. The basic materials company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $218.00 million during the quarter, compared to the consensus estimate of $221.49 million. Hecla Mining had a net margin of 4.18% and a return on equity of 5.92%. Hecla Mining’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 EPS. On average, research analysts anticipate that Hecla Mining will post 0.18 earnings per share for the current year.

In other news, VP David C. Sienko sold 70,000 shares of the company’s stock in a transaction dated Thursday, June 17th. The shares were sold at an average price of $7.99, for a total transaction of $559,300.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC raised its position in shares of Hecla Mining by 5.4% during the 1st quarter. Advisory Services Network LLC now owns 25,748 shares of the basic materials company’s stock valued at $147,000 after buying an additional 1,313 shares in the last quarter. CWM Advisors LLC raised its position in Hecla Mining by 3.1% in the 2nd quarter. CWM Advisors LLC now owns 55,572 shares of the basic materials company’s stock worth $413,000 after purchasing an additional 1,684 shares during the period. CIBC World Markets Inc. raised its position in Hecla Mining by 4.6% in the 1st quarter. CIBC World Markets Inc. now owns 40,062 shares of the basic materials company’s stock worth $228,000 after purchasing an additional 1,780 shares during the period. Proffitt & Goodson Inc. raised its position in Hecla Mining by 32.8% in the 2nd quarter. Proffitt & Goodson Inc. now owns 8,100 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 2,000 shares during the period. Finally, Quilter Plc raised its position in Hecla Mining by 7.0% in the 2nd quarter. Quilter Plc now owns 32,859 shares of the basic materials company’s stock worth $244,000 after purchasing an additional 2,153 shares during the period. Hedge funds and other institutional investors own 59.92% of the company’s stock.

Hecla Mining Company Profile

Hecla Mining Co operates as a silver and gold production company. The firm produces lead, zinc and bulk concentrates for custom smelters and brokers; and develops unrefined precipitate and bullion bars for precious metals traders. It operates through the following business segments: The Greens Creek, The Lucky Friday, The Casa Berardi, The Nevada Operations, and The San Sebastian.

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