Hecla Mining (NYSE:HL) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Hecla Mining (NYSE:HL) from a sell rating to a hold rating in a report issued on Friday.

Other equities analysts have also issued research reports about the company. Roth Mkm cut their price target on Hecla Mining from $6.25 to $6.00 and set a buy rating for the company in a research note on Thursday, August 8th. HC Wainwright reissued a buy rating and issued a $10.25 price objective on shares of Hecla Mining in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $7.56.

Hecla Mining Price Performance

Shares of NYSE HL opened at $6.68 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.29 and a quick ratio of 0.58. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of -44.53 and a beta of 2.00. The firm’s 50 day simple moving average is $5.92 and its 200-day simple moving average is $5.50. Hecla Mining has a 12 month low of $3.33 and a 12 month high of $7.40.

Hecla Mining (NYSE:HL) last released its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. Hecla Mining had a negative net margin of 5.56% and a negative return on equity of 0.42%. The company had revenue of $245.66 million for the quarter, compared to analyst estimates of $208.80 million. During the same quarter last year, the business earned $0.03 earnings per share. Analysts expect that Hecla Mining will post 0.05 EPS for the current year.

Hecla Mining Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 26th were given a dividend of $0.0138 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Monday, August 26th. This is an increase from Hecla Mining’s previous quarterly dividend of $0.00. Hecla Mining’s dividend payout ratio is -33.33%.

Insider Activity at Hecla Mining

In other news, VP Kurt Allen sold 108,612 shares of Hecla Mining stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $6.77, for a total value of $735,303.24. Following the sale, the vice president now directly owns 173,700 shares of the company’s stock, valued at $1,175,949. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hecla Mining

Several hedge funds and other institutional investors have recently modified their holdings of HL. SPC Financial Inc. purchased a new stake in Hecla Mining during the 2nd quarter valued at about $67,000. B. Riley Wealth Advisors Inc. increased its holdings in shares of Hecla Mining by 4.9% in the second quarter. B. Riley Wealth Advisors Inc. now owns 1,212,146 shares of the basic materials company’s stock valued at $5,879,000 after purchasing an additional 56,203 shares during the last quarter. Creative Planning lifted its position in Hecla Mining by 254.8% during the second quarter. Creative Planning now owns 104,317 shares of the basic materials company’s stock worth $506,000 after buying an additional 74,915 shares in the last quarter. Algert Global LLC acquired a new position in Hecla Mining during the second quarter worth $290,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Hecla Mining by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 338,040 shares of the basic materials company’s stock valued at $1,639,000 after buying an additional 2,939 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

About Hecla Mining

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