Hecla Mining (NYSE:HL) Price Target Cut to $7.00 by Analysts at TD Securities

Hecla Mining (NYSE:HL) had its target price cut by equities research analysts at TD Securities from $7.50 to $7.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. TD Securities’ price objective points to a potential upside of 74.13% from the company’s previous close.

Several other research firms have also issued reports on HL. StockNews.com initiated coverage on shares of Hecla Mining in a research report on Thursday, August 17th. They issued a “sell” rating on the stock. TheStreet lowered shares of Hecla Mining from a “c-” rating to a “d+” rating in a research report on Tuesday, September 12th. National Bankshares lowered their price target on shares of Hecla Mining from $7.25 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday. BMO Capital Markets initiated coverage on shares of Hecla Mining in a research report on Thursday, September 14th. They issued an “outperform” rating and a $5.50 price target on the stock. Finally, Roth Mkm reduced their target price on Hecla Mining from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Hecla Mining currently has a consensus rating of “Moderate Buy” and an average target price of $6.47.

Hecla Mining Stock Down 4.1 %

Shares of HL stock traded down $0.17 during trading hours on Tuesday, reaching $4.02. The company had a trading volume of 2,780,298 shares, compared to its average volume of 7,413,771. Hecla Mining has a 12 month low of $3.41 and a 12 month high of $7.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.71 and a quick ratio of 1.09. The business has a fifty day simple moving average of $4.89 and a 200-day simple moving average of $5.39. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -44.78 and a beta of 2.09.

Hecla Mining (NYSE:HL) last released its earnings results on Tuesday, August 8th. The basic materials company reported $0.03 EPS for the quarter. Hecla Mining had a positive return on equity of 1.23% and a negative net margin of 6.52%. The company had revenue of $178.13 million for the quarter, compared to analysts’ expectations of $183.71 million. During the same period in the previous year, the business posted $0.04 EPS. On average, research analysts expect that Hecla Mining will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director George R. Johnson bought 8,500 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were purchased at an average price of $4.07 per share, for a total transaction of $34,595.00. Following the completion of the acquisition, the director now owns 25,773 shares of the company’s stock, valued at $104,896.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hecla Mining

A number of large investors have recently modified their holdings of HL. Van ECK Associates Corp raised its holdings in Hecla Mining by 10.3% in the first quarter. Van ECK Associates Corp now owns 60,912,197 shares of the basic materials company’s stock worth $385,574,000 after purchasing an additional 5,686,975 shares in the last quarter. Vanguard Group Inc. raised its holdings in Hecla Mining by 2.4% in the third quarter. Vanguard Group Inc. now owns 52,765,176 shares of the basic materials company’s stock worth $207,896,000 after purchasing an additional 1,225,682 shares in the last quarter. BlackRock Inc. raised its holdings in Hecla Mining by 4.7% in the second quarter. BlackRock Inc. now owns 44,923,690 shares of the basic materials company’s stock worth $231,357,000 after purchasing an additional 2,036,173 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Hecla Mining by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 34,992,930 shares of the basic materials company’s stock worth $180,213,000 after purchasing an additional 1,072,891 shares in the last quarter. Finally, State Street Corp raised its holdings in Hecla Mining by 23.3% in the first quarter. State Street Corp now owns 31,925,189 shares of the basic materials company’s stock worth $209,748,000 after purchasing an additional 6,033,244 shares in the last quarter. Institutional investors own 59.00% of the company’s stock.

About Hecla Mining

Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States and internationally. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for sale to custom smelters, metal traders, and third-party processors; and doré containing silver and gold.