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

Hecla Mining (NYSE:HL) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

HL has been the topic of several other research reports. Roth Mkm decreased their price objective on Hecla Mining from $6.25 to $6.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and set a $10.25 price objective on shares of Hecla Mining in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.56.

Hecla Mining Price Performance

NYSE HL opened at $6.62 on Wednesday. The firm’s 50-day simple moving average is $6.05 and its two-hundred day simple moving average is $5.61. Hecla Mining has a 52 week low of $3.33 and a 52 week high of $7.40. The company has a quick ratio of 0.58, a current ratio of 1.29 and a debt-to-equity ratio of 0.29. The company has a market cap of $4.14 billion, a PE ratio of -44.10 and a beta of 2.01.

Hecla Mining (NYSE:HL) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.02 earnings per share for the quarter, topping 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 analysts’ expectations of $208.80 million. During the same period in the prior year, the business earned $0.03 earnings per share. Research analysts predict that Hecla Mining will post 0.05 earnings per share for the current year.

Insiders Place Their Bets

In other Hecla Mining news, VP Kurt Allen sold 108,612 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $6.77, for a total transaction of $735,303.24. Following the completion of the transaction, the vice president now owns 173,700 shares of the company’s stock, valued at approximately $1,175,949. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hecla Mining

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its position in Hecla Mining by 6.8% during the first quarter. Van ECK Associates Corp now owns 60,513,592 shares of the basic materials company’s stock valued at $291,070,000 after purchasing an additional 3,827,580 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Hecla Mining by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 59,420,114 shares of the basic materials company’s stock valued at $285,811,000 after acquiring an additional 1,506,573 shares during the period. Dimensional Fund Advisors LP increased its holdings in Hecla Mining by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 34,644,620 shares of the basic materials company’s stock worth $168,027,000 after acquiring an additional 146,689 shares in the last quarter. Tidal Investments LLC purchased a new position in Hecla Mining during the first quarter valued at approximately $42,576,000. Finally, Ninety One UK Ltd raised its position in shares of Hecla Mining by 17.0% during the 2nd quarter. Ninety One UK Ltd now owns 8,219,231 shares of the basic materials company’s stock valued at $39,863,000 after purchasing an additional 1,196,515 shares during the period. Institutional investors own 63.01% of the company’s stock.

Hecla Mining Company Profile

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.