Hecla Mining (NYSE:HL) Price Target Lowered to $8.00 at TD Securities

Hecla Mining (NYSE:HL) had its price target decreased by TD Securities from $8.50 to $8.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. TD Securities’ price objective would suggest a potential upside of 41.34% from the stock’s previous close.

HL has been the subject of a number of other research reports. Roth Mkm lowered their price target on shares of Hecla Mining from $6.25 to $6.00 and set a “buy” rating for the company in a report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and set a $10.25 target price on shares of Hecla Mining in a research report on Thursday, August 8th. Finally, StockNews.com lowered shares of Hecla Mining from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.94.

Hecla Mining Price Performance

Shares of NYSE:HL traded down $0.36 during mid-day trading on Friday, reaching $5.66. The stock had a trading volume of 11,014,343 shares, compared to its average volume of 9,032,956. The company has a market cap of $3.56 billion, a P/E ratio of -70.75 and a beta of 2.00. The business’s 50 day moving average price is $6.53 and its 200 day moving average price is $5.83. The company has a current ratio of 1.29, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29. Hecla Mining has a 1 year low of $3.33 and a 1 year high of $7.68.

Hecla Mining (NYSE:HL) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Hecla Mining had a negative net margin of 5.56% and a negative return on equity of 0.42%. The firm had revenue of $245.09 million during the quarter, compared to analyst estimates of $232.03 million. During the same period last year, the firm posted ($0.01) earnings per share. Hecla Mining’s revenue for the quarter was up 34.7% compared to the same quarter last year. Research analysts expect that Hecla Mining will post 0.07 EPS for the current fiscal year.

Insider Transactions at Hecla Mining

In other news, VP Kurt Allen sold 108,612 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 173,700 shares of the company’s stock, valued at approximately $1,175,949. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Hecla Mining

Several institutional investors and hedge funds have recently bought and sold shares of the company. Continuum Advisory LLC raised its holdings in shares of Hecla Mining by 313.6% in the second quarter. Continuum Advisory LLC now owns 6,551 shares of the basic materials company’s stock worth $32,000 after buying an additional 4,967 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Hecla Mining in the second quarter valued at about $41,000. Sound Income Strategies LLC purchased a new position in shares of Hecla Mining in the third quarter worth about $49,000. Ballentine Partners LLC acquired a new stake in shares of Hecla Mining during the second quarter worth about $54,000. Finally, Oak Family Advisors LLC purchased a new stake in Hecla Mining in the second quarter valued at approximately $55,000. 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.