According to Zacks, “Hecla Mining Company is a leading low-cost U.S. silver producer with operating mines in Alaska and Idaho, and is a growing gold producer with an operating mine in Quebec, Canada. The Company also has exploration and pre-development properties in five world-class silver and gold mining districts in the U.S., Canada, and Mexico, and an exploration office and investments in early-stage silver exploration projects in Canada. “
Several other research analysts have also weighed in on the stock. Royal Bank of Canada reiterated an outperform rating and set a $6.62 price objective on shares of Hecla Mining in a report on Monday, July 26th. HC Wainwright reiterated a buy rating and set a $7.75 price objective on shares of Hecla Mining in a report on Wednesday, July 14th. Cantor Fitzgerald upgraded shares of Hecla Mining from a hold rating to a buy rating and set a $7.00 price objective on the stock in a report on Wednesday, September 8th. CIBC increased their price objective on shares of Hecla Mining from $7.50 to $8.95 and gave the stock a neutral rating in a report on Wednesday, May 19th. Finally, TheStreet lowered shares of Hecla Mining from a b- rating to a c rating in a report on Monday, June 28th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $7.51.
Hecla Mining (NYSE:HL) last released its quarterly earnings results on Thursday, August 5th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The company had revenue of $218.00 million for the quarter, compared to analysts’ expectations of $221.49 million. Hecla Mining had a net margin of 4.18% and a return on equity of 5.92%. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period last year, the company earned $0.01 EPS. As a group, equities research analysts expect that Hecla Mining will post 0.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 3rd. Investors of record on Monday, August 23rd were issued a $0.011 dividend. The ex-dividend date of this dividend was Friday, August 20th. This represents a $0.04 annualized dividend and a yield of 0.72%. Hecla Mining’s payout ratio is 125.00%.
In other news, VP David C. Sienko sold 70,000 shares of Hecla Mining stock in a transaction that occurred on Thursday, June 17th. The shares were sold at an average price of $7.99, for a total transaction of $559,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its stake in shares of Hecla Mining by 6.9% during the second quarter. Parametric Portfolio Associates LLC now owns 850,017 shares of the basic materials company’s stock valued at $6,324,000 after purchasing an additional 55,082 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Hecla Mining during the second quarter worth approximately $802,000. Marshall Wace LLP acquired a new stake in shares of Hecla Mining during the second quarter worth approximately $4,231,000. Morgan Stanley grew its position in shares of Hecla Mining by 268.5% during the second quarter. Morgan Stanley now owns 3,793,684 shares of the basic materials company’s stock worth $28,224,000 after buying an additional 2,764,286 shares in the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of Hecla Mining during the second quarter worth approximately $484,000. Institutional investors own 59.92% of the company’s stock.
Hecla Mining Company Profile
Hecla Mining Co operates as a silver and gold production company. The firm produces lead, zinc and bulk concentrates for custom smelters and brokers; and develops unrefined precipitate and bullion bars for precious metals traders. It operates through the following business segments: The Greens Creek, The Lucky Friday, The Casa Berardi, The Nevada Operations, and The San Sebastian.
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