Hecla Mining (HL) Upgraded by Canaccord Genuity to Hold

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Canaccord Genuity upgraded shares of Hecla Mining (NYSE:HL) from a sell rating to a hold rating in a research report sent to investors on Friday morning, The Fly reports.

A number of other analysts have also issued reports on HL. ValuEngine upgraded Hecla Mining from a sell rating to a hold rating in a research note on Thursday, November 1st. B. Riley decreased their price objective on Hecla Mining from $5.00 to $3.75 and set a buy rating on the stock in a research note on Thursday, September 20th. HC Wainwright set a $7.00 price objective on Hecla Mining and gave the company a buy rating in a research note on Friday. Royal Bank of Canada reiterated a hold rating and set a $4.00 price objective on shares of Hecla Mining in a research note on Friday, August 10th. Finally, BMO Capital Markets reiterated a hold rating and set a $3.50 price objective (down from $4.00) on shares of Hecla Mining in a research note on Thursday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Hecla Mining presently has an average rating of Hold and an average price target of $4.61.

Shares of HL traded down $0.02 during mid-day trading on Friday, hitting $2.43. The stock had a trading volume of 4,944,278 shares, compared to its average volume of 5,580,805. The firm has a market cap of $1.16 billion, a PE ratio of 24.30, a PEG ratio of 151.88 and a beta of 0.41. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.35 and a quick ratio of 2.77. Hecla Mining has a 52 week low of $2.17 and a 52 week high of $4.63.

Hecla Mining (NYSE:HL) last released its quarterly earnings data on Thursday, November 8th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Hecla Mining had a negative net margin of 1.02% and a positive return on equity of 2.91%. The company had revenue of $143.70 million for the quarter, compared to the consensus estimate of $149.34 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Hecla Mining will post 0.02 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Tuesday, November 20th will be paid a dividend of $0.0025 per share. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.41%. Hecla Mining’s payout ratio is 10.00%.

Several large investors have recently added to or reduced their stakes in HL. Xact Kapitalforvaltning AB increased its stake in Hecla Mining by 34.4% in the 1st quarter. Xact Kapitalforvaltning AB now owns 60,916 shares of the basic materials company’s stock worth $224,000 after acquiring an additional 15,600 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Hecla Mining by 19.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 181,355 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 29,221 shares during the last quarter. Alliancebernstein L.P. increased its stake in Hecla Mining by 7.1% in the 3rd quarter. Alliancebernstein L.P. now owns 476,682 shares of the basic materials company’s stock worth $1,330,000 after acquiring an additional 31,801 shares during the last quarter. NJ State Employees Deferred Compensation Plan increased its stake in Hecla Mining by 23.5% in the 3rd quarter. NJ State Employees Deferred Compensation Plan now owns 210,000 shares of the basic materials company’s stock worth $586,000 after acquiring an additional 40,000 shares during the last quarter. Finally, American International Group Inc. increased its stake in Hecla Mining by 16.1% in the 3rd quarter. American International Group Inc. now owns 300,763 shares of the basic materials company’s stock worth $839,000 after acquiring an additional 41,723 shares during the last quarter. Institutional investors own 51.90% of the company’s stock.

Hecla Mining Company Profile

Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal deposits worldwide. The company offers zinc, lead, and bulk flotation concentrates to custom smelters and brokers; and unrefined gold and silver bullion bars to precious metals traders.

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Analyst Recommendations for Hecla Mining (NYSE:HL)

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