Canaccord Genuity upgraded shares of Hecla Mining (NYSE:HL) to a hold rating in a report released on Wednesday morning, TipRanks reports. The firm currently has $6.00 price target on the basic materials company’s stock.
A number of other equities research analysts have also recently issued reports on HL. HC Wainwright reaffirmed a buy rating and issued a $4.00 target price on shares of Hecla Mining in a report on Monday, July 6th. Royal Bank of Canada raised shares of Hecla Mining from an underperform rating to a sector perform rating and upped their target price for the company from $2.50 to $4.50 in a report on Friday, July 17th. B. Riley raised shares of Hecla Mining from a neutral rating to a buy rating and set a $5.70 target price on the stock in a report on Tuesday, July 14th. Finally, Zacks Investment Research cut shares of Hecla Mining from a buy rating to a hold rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $4.41.
Hecla Mining stock opened at $5.52 on Wednesday. The firm has a 50-day moving average of $3.80 and a 200-day moving average of $2.98. Hecla Mining has a one year low of $1.38 and a one year high of $5.68. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.92 and a quick ratio of 2.28. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -29.05, a P/E/G ratio of 2,140.00 and a beta of 1.82.
Hecla Mining (NYSE:HL) last posted its quarterly earnings data on Thursday, May 7th. The basic materials company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.02). Hecla Mining had a negative return on equity of 3.86% and a negative net margin of 13.87%. The business had revenue of $136.90 million for the quarter, compared to analyst estimates of $153.38 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. The company’s quarterly revenue was down 10.3% on a year-over-year basis.
Institutional investors have recently added to or reduced their stakes in the business. National Asset Management Inc. raised its holdings in Hecla Mining by 14.4% in the 1st quarter. National Asset Management Inc. now owns 271,950 shares of the basic materials company’s stock valued at $495,000 after acquiring an additional 34,250 shares during the period. Voloridge Investment Management LLC raised its holdings in Hecla Mining by 3,616.5% in the 1st quarter. Voloridge Investment Management LLC now owns 509,155 shares of the basic materials company’s stock valued at $927,000 after acquiring an additional 495,455 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in Hecla Mining in the 4th quarter valued at about $118,000. BNP Paribas Arbitrage SA raised its holdings in Hecla Mining by 92.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 208,336 shares of the basic materials company’s stock valued at $379,000 after acquiring an additional 100,309 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Hecla Mining by 10.8% in the 1st quarter. Geode Capital Management LLC now owns 7,440,753 shares of the basic materials company’s stock valued at $13,542,000 after acquiring an additional 726,415 shares during the period. 58.20% of the stock is currently owned by hedge funds and other institutional investors.
Hecla Mining Company Profile
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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