Equities Analysts Set Expectations for Hecla Mining’s FY2024 Earnings (NYSE:HL)

Hecla Mining (NYSE:HL) – Research analysts at National Bank Financial cut their FY2024 earnings estimates for Hecla Mining in a note issued to investors on Wednesday, August 7th. National Bank Financial analyst M. Parkin now expects that the basic materials company will post earnings per share of $0.03 for the year, down from their previous estimate of $0.10. The consensus estimate for Hecla Mining’s current full-year earnings is $0.05 per share. National Bank Financial also issued estimates for Hecla Mining’s FY2025 earnings at $0.18 EPS.

Hecla Mining (NYSE:HL) last posted its earnings results on Tuesday, August 6th. The basic materials company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $245.66 million during the quarter, compared to analysts’ expectations of $208.80 million. Hecla Mining had a negative net margin of 12.22% and a negative return on equity of 0.28%. During the same period last year, the company posted $0.03 earnings per share.

HL has been the subject of a number of other reports. Cibc World Mkts raised shares of Hecla Mining to a “hold” rating in a research note on Wednesday, May 22nd. HC Wainwright reissued a “buy” rating and issued a $10.25 price objective on shares of Hecla Mining in a research note on Thursday, August 8th. StockNews.com raised shares of Hecla Mining to a “sell” rating in a research note on Thursday, May 9th. Roth Mkm dropped their price objective on shares of Hecla Mining from $6.25 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, CIBC lifted their price objective on shares of Hecla Mining from $6.75 to $7.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Hecla Mining presently has a consensus rating of “Moderate Buy” and an average target price of $6.89.

Hecla Mining Stock Performance

Shares of NYSE:HL opened at $5.29 on Monday. Hecla Mining has a 52 week low of $3.33 and a 52 week high of $6.35. The stock has a market capitalization of $3.31 billion, a P/E ratio of -35.23 and a beta of 2.01. The firm has a fifty day simple moving average of $5.37 and a two-hundred day simple moving average of $4.92. The company has a quick ratio of 1.00, a current ratio of 1.67 and a debt-to-equity ratio of 0.34.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. grew its position in shares of Hecla Mining by 21.5% in the 4th quarter. Russell Investments Group Ltd. now owns 223,508 shares of the basic materials company’s stock worth $1,075,000 after buying an additional 39,494 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Hecla Mining by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 59,420,114 shares of the basic materials company’s stock worth $285,811,000 after buying an additional 1,506,573 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Hecla Mining in the 1st quarter worth approximately $727,000. SG Americas Securities LLC grew its position in shares of Hecla Mining by 148.9% in the 1st quarter. SG Americas Securities LLC now owns 39,208 shares of the basic materials company’s stock worth $189,000 after buying an additional 23,457 shares during the last quarter. Finally, Norges Bank purchased a new stake in Hecla Mining during the 4th quarter worth approximately $13,761,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insider Buying and Selling

In related news, VP Robert Denis Brown sold 24,792 shares of Hecla Mining stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $4.91, for a total transaction of $121,728.72. Following the completion of the sale, the vice president now owns 607,649 shares in the company, valued at approximately $2,983,556.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Michael L. Clary sold 30,634 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $4.91, for a total value of $150,412.94. Following the completion of the sale, the chief accounting officer now owns 351,972 shares in the company, valued at approximately $1,728,182.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Robert Denis Brown sold 24,792 shares of Hecla Mining stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $4.91, for a total transaction of $121,728.72. Following the completion of the transaction, the vice president now directly owns 607,649 shares in the company, valued at approximately $2,983,556.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,105 shares of company stock valued at $329,486. Company insiders own 1.40% of the company’s stock.

Hecla Mining Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Monday, August 26th will be paid a dividend of $0.0138 per share. The ex-dividend date is Monday, August 26th. This is a boost from Hecla Mining’s previous quarterly dividend of $0.00. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.04%. Hecla Mining’s payout ratio is currently -33.33%.

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.