Hecla Mining (HL) Given “Buy” Rating at Canaccord Genuity

Hecla Mining (NYSE:HL)‘s stock had its “buy” rating reiterated by equities researchers at Canaccord Genuity in a note issued to investors on Monday, January 8th. They currently have a $5.00 price target on the basic materials company’s stock. Canaccord Genuity’s price objective suggests a potential upside of 13.38% from the company’s previous close.

Several other analysts have also recently commented on HL. Zacks Investment Research upgraded Hecla Mining from a “hold” rating to a “strong-buy” rating and set a $4.50 target price on the stock in a report on Wednesday, January 3rd. ValuEngine lowered Hecla Mining from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Cantor Fitzgerald assumed coverage on Hecla Mining in a research note on Monday, December 4th. They set a “buy” rating and a $5.00 price target on the stock. B. Riley raised Hecla Mining from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Thursday, November 30th. Finally, BMO Capital Markets started coverage on Hecla Mining in a research note on Friday, November 17th. They issued a “market perform” rating and a $4.75 target price on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Hecla Mining has a consensus rating of “Hold” and an average price target of $5.54.

Shares of Hecla Mining (HL) traded down $0.08 during trading on Monday, hitting $4.41. The stock had a trading volume of 5,520,400 shares, compared to its average volume of 5,019,600. Hecla Mining has a fifty-two week low of $3.43 and a fifty-two week high of $6.78. The company has a current ratio of 2.69, a quick ratio of 2.15 and a debt-to-equity ratio of 0.34. The firm has a market cap of $1,760.00, a price-to-earnings ratio of 73.50, a price-to-earnings-growth ratio of 28.45 and a beta of 0.20.

Hecla Mining (NYSE:HL) last issued its quarterly earnings results on Tuesday, November 7th. The basic materials company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $140.80 million during the quarter, compared to analyst estimates of $151.32 million. Hecla Mining had a return on equity of 1.89% and a net margin of 4.21%. The company’s quarterly revenue was down 21.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. equities research analysts predict that Hecla Mining will post 0.05 EPS for the current year.

In related news, CEO Phillips S. Baker, Jr. bought 13,000 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were purchased at an average cost of $3.76 per share, with a total value of $48,880.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Theodore Crumley bought 10,000 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were bought at an average cost of $3.49 per share, for a total transaction of $34,900.00. Following the completion of the acquisition, the director now directly owns 126,536 shares in the company, valued at approximately $441,610.64. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in HL. Van ECK Associates Corp lifted its stake in shares of Hecla Mining by 1.1% in the 3rd quarter. Van ECK Associates Corp now owns 38,531,381 shares of the basic materials company’s stock valued at $193,428,000 after purchasing an additional 426,023 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Hecla Mining by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 33,535,987 shares of the basic materials company’s stock valued at $168,350,000 after purchasing an additional 198,411 shares during the period. Vanguard Group Inc. lifted its stake in shares of Hecla Mining by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 32,132,844 shares of the basic materials company’s stock valued at $163,877,000 after purchasing an additional 288,819 shares during the period. BT Investment Management Ltd acquired a new position in shares of Hecla Mining in the 2nd quarter valued at about $77,979,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Hecla Mining by 2.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 7,150,000 shares of the basic materials company’s stock valued at $35,893,000 after purchasing an additional 175,000 shares during the period. 60.28% of the stock is currently owned by hedge funds and other institutional investors.

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About Hecla Mining

Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Company and its subsidiaries provide precious and base metals to the United States and around the world. It produces lead, zinc and bulk concentrates, which it markets to custom smelters and brokers, and unrefined bullion bars (dore) containing gold and silver.

Analyst Recommendations for Hecla Mining (NYSE:HL)

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