Zacks Investment Research upgraded shares of Hecla Mining Co. (NYSE:HL) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $5.75 price target on the stock.
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 also recently issued reports about the company. BMO Capital Markets reissued a buy rating and issued a $10.00 target price on shares of Hecla Mining in a report on Friday, August 5th. Rodman & Renshaw started coverage on Hecla Mining in a report on Tuesday, September 6th. They issued a buy rating and a $9.00 target price on the stock. Deutsche Bank AG boosted their target price on Hecla Mining from $4.20 to $5.50 and gave the stock a hold rating in a report on Tuesday, August 9th. FBR & Co reissued a market perform rating and issued a $6.00 target price (up from $5.00) on shares of Hecla Mining in a report on Monday, August 8th. Finally, JPMorgan Chase & Co. raised Hecla Mining from a neutral rating to an overweight rating and set a $8.00 target price on the stock in a report on Tuesday, August 9th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $5.51.
Hecla Mining (NYSE:HL) opened at 5.12 on Tuesday. The stock has a 50 day moving average price of $5.69 and a 200-day moving average price of $5.02. Hecla Mining has a 12-month low of $1.45 and a 12-month high of $7.26. The stock’s market capitalization is $1.98 billion.
Hecla Mining (NYSE:HL) last announced its earnings results on Thursday, August 4th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. The business had revenue of $171.30 million for the quarter, compared to the consensus estimate of $141.25 million. Hecla Mining had a positive return on equity of 1.54% and a negative net margin of 9.44%. Hecla Mining’s revenue was up 64.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) EPS. Equities research analysts expect that Hecla Mining will post $0.19 EPS for the current year.
In related news, VP David C. Sienko sold 13,722 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $5.85, for a total value of $80,273.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Phillips S. Baker, Jr. sold 392,863 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $7.05, for a total transaction of $2,769,684.15. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in HL. Raymond James & Associates boosted its stake in Hecla Mining by 88.8% in the second quarter. Raymond James & Associates now owns 20,780 shares of the company’s stock worth $106,000 after buying an additional 9,776 shares in the last quarter. Investors Capital Advisory Services boosted its stake in Hecla Mining by 0.3% in the second quarter. Investors Capital Advisory Services now owns 22,489 shares of the company’s stock worth $114,000 after buying an additional 57 shares in the last quarter. Washington Trust Bank boosted its stake in Hecla Mining by 4.3% in the second quarter. Washington Trust Bank now owns 23,467 shares of the company’s stock worth $120,000 after buying an additional 967 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Hecla Mining by 0.6% in the second quarter. Public Employees Retirement System of Ohio now owns 23,781 shares of the company’s stock worth $121,000 after buying an additional 143 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Hecla Mining by 6.6% in the second quarter. Nuveen Asset Management LLC now owns 25,262 shares of the company’s stock worth $129,000 after buying an additional 1,567 shares in the last quarter. Institutional investors and hedge funds own 57.97% of the company’s stock.
About Hecla Mining
Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Company and its subsidiaries provide precious and base metals to the United States and around the world. The Company produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver at Greens Creek and Casa Berardi.
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