Hecla Mining (NYSE:HL) Trading Up 10.3% After Analyst Upgrade

Shares of Hecla Mining (NYSE:HL) rose 10.3% during trading on Tuesday after B. Riley raised their price target on the stock from $2.20 to $2.30. B. Riley currently has a neutral rating on the stock. Hecla Mining traded as high as $1.95 and last traded at $1.93, approximately 8,689,724 shares changed hands during trading. An increase of 22% from the average daily volume of 7,124,920 shares. The stock had previously closed at $1.75.

Several other equities research analysts have also issued reports on the company. Cantor Fitzgerald set a $2.00 price target on Hecla Mining and gave the company a “hold” rating in a research report on Thursday, June 6th. CIBC downgraded shares of Hecla Mining from a “neutral” rating to an “underperform” rating and set a $1.56 price objective for the company. in a report on Tuesday, May 14th. ValuEngine upgraded shares of Hecla Mining from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Zacks Investment Research raised shares of Hecla Mining from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Finally, BMO Capital Markets set a $1.00 price target on shares of Hecla Mining and gave the stock a “sell” rating in a research report on Friday, July 19th. Six analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Hecla Mining currently has an average rating of “Hold” and an average target price of $2.06.

In related news, Director Catherine J. Boggs bought 40,540 shares of the company’s stock in a transaction on Friday, August 16th. The shares were purchased at an average cost of $1.50 per share, with a total value of $60,810.00. Following the completion of the transaction, the director now directly owns 40,540 shares of the company’s stock, valued at $60,810. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Management Group Inc. ADV acquired a new stake in Hecla Mining in the 2nd quarter valued at approximately $31,000. Piedmont Investment Advisors Inc. bought a new position in shares of Hecla Mining in the first quarter worth $32,000. Corient Capital Partners LLC bought a new position in shares of Hecla Mining in the second quarter worth $41,000. First Allied Advisory Services Inc. acquired a new position in shares of Hecla Mining during the second quarter valued at $41,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Hecla Mining by 32.0% during the second quarter. Public Employees Retirement System of Ohio now owns 26,625 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 6,462 shares during the period. 58.18% of the stock is owned by institutional investors.

The firm has a market capitalization of $884.90 million, a P/E ratio of -17.55 and a beta of 0.96. The business’s 50 day moving average is $1.75 and its two-hundred day moving average is $1.90. The company has a quick ratio of 0.55, a current ratio of 1.23 and a debt-to-equity ratio of 0.37.

Hecla Mining (NYSE:HL) last released its earnings results on Wednesday, August 7th. The basic materials company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.03). Hecla Mining had a negative net margin of 20.98% and a negative return on equity of 6.02%. The company had revenue of $134.17 million for the quarter, compared to analyst estimates of $150.62 million. During the same period in the previous year, the business posted $0.01 EPS. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. As a group, equities analysts anticipate that Hecla Mining will post -0.12 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 23rd were issued a $0.002 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Thursday, August 22nd. Hecla Mining’s dividend payout ratio (DPR) is presently -9.09%.

Hecla Mining Company Profile (NYSE:HL)

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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