Hecla Mining (NYSE:HL) – Investment analysts at B. Riley lowered their FY2021 earnings estimates for Hecla Mining in a research note issued on Tuesday, November 5th. B. Riley analyst A. Graf now forecasts that the basic materials company will post earnings per share of ($0.15) for the year, down from their prior estimate of ($0.14). B. Riley has a “Neutral” rating and a $1.80 price objective on the stock.
Hecla Mining (NYSE:HL) last issued its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Hecla Mining had a negative net margin of 20.98% and a negative return on equity of 6.02%. The company had revenue of $161.50 million during the quarter, compared to the consensus estimate of $179.40 million. During the same period last year, the company earned ($0.05) earnings per share. Hecla Mining’s revenue for the quarter was up 12.4% on a year-over-year basis.
A number of other equities analysts have also recently issued reports on the stock. HC Wainwright increased their price objective on shares of Hecla Mining from $3.00 to $3.75 and gave the company a “buy” rating in a research note on Monday, August 19th. Canaccord Genuity cut shares of Hecla Mining from a “hold” rating to a “sell” rating and set a $2.00 price objective for the company. in a research note on Wednesday, August 7th. Zacks Investment Research cut shares of Hecla Mining from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets upgraded shares of Hecla Mining from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $1.60 to $2.20 in a research note on Thursday. Finally, Cantor Fitzgerald upgraded shares of Hecla Mining from a “hold” rating to a “buy” rating in a research report on Friday. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $2.10.
Shares of HL stock traded up $0.08 during mid-day trading on Friday, reaching $2.31. The company’s stock had a trading volume of 7,849,090 shares, compared to its average volume of 7,279,325. Hecla Mining has a 1-year low of $1.21 and a 1-year high of $3.07. The company has a market cap of $1.13 billion, a P/E ratio of -21.00 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.55 and a current ratio of 1.23. The firm’s 50-day moving average is $2.03 and its two-hundred day moving average is $1.80.
In other news, Director Catherine J. Boggs bought 40,540 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was acquired at an average price of $1.50 per share, for a total transaction of $60,810.00. Following the transaction, the director now directly owns 40,540 shares of the company’s stock, valued at approximately $60,810. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Great Lakes Advisors LLC increased its position in Hecla Mining by 9.2% in the 2nd quarter. Great Lakes Advisors LLC now owns 1,619,799 shares of the basic materials company’s stock valued at $2,916,000 after acquiring an additional 136,780 shares in the last quarter. CWM Advisors LLC boosted its stake in shares of Hecla Mining by 46.1% in the 2nd quarter. CWM Advisors LLC now owns 91,780 shares of the basic materials company’s stock valued at $165,000 after purchasing an additional 28,960 shares during the last quarter. Aperio Group LLC boosted its stake in Hecla Mining by 6.0% during the 2nd quarter. Aperio Group LLC now owns 225,450 shares of the basic materials company’s stock worth $406,000 after acquiring an additional 12,737 shares during the last quarter. Alps Advisors Inc. boosted its stake in Hecla Mining by 348.8% during the 2nd quarter. Alps Advisors Inc. now owns 1,752,151 shares of the basic materials company’s stock worth $3,154,000 after acquiring an additional 1,361,747 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Hecla Mining by 24.3% during the 2nd quarter. First Trust Advisors LP now owns 631,418 shares of the basic materials company’s stock worth $1,137,000 after acquiring an additional 123,633 shares during the last quarter. Hedge funds and other institutional investors own 56.61% of the company’s stock.
About Hecla Mining
Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal properties worldwide. The company offers lead, zinc, and bulk flotation concentrates to custom smelters and brokers; and unrefined gold and silver bullion bars to precious metals traders.
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