Hecla Mining (NYSE:HL) Price Target Lowered to $20.00 at Royal Bank Of Canada

Hecla Mining (NYSE:HL) had its price target reduced by investment analysts at Royal Bank Of Canada from $24.00 to $20.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 9.79% from the company’s previous close.

HL has been the topic of a number of other research reports. Scotiabank reduced their price target on Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Zacks Research upgraded Hecla Mining to a “hold” rating in a report on Friday, July 17th. Weiss Ratings raised Hecla Mining from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 8th. Finally, Jefferies Financial Group began coverage on shares of Hecla Mining in a report on Thursday, August 20th. They issued a “hold” rating and a $22.00 price objective for the company. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.34.

Hecla Mining Price Performance

Shares of HL stock traded down $0.46 during trading on Wednesday, reaching $18.22. The company’s stock had a trading volume of 25,292,255 shares, compared to its average volume of 26,078,676. Hecla Mining has a 1-year low of $10.38 and a 1-year high of $34.17. The stock’s 50-day moving average price is $17.66 and its 200 day moving average price is $17.95. The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 37.30 and a beta of 1.38.

Hecla Mining (NYSE:HL) last released its earnings results on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%.The firm had revenue of $333.85 million for the quarter, compared to analysts’ expectations of $368.75 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts anticipate that Hecla Mining will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Hecla Mining

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sittner & Nelson LLC acquired a new position in Hecla Mining during the 4th quarter valued at $29,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Hecla Mining during the fourth quarter valued at about $31,000. Rothschild Investment LLC lifted its stake in shares of Hecla Mining by 93.5% in the fourth quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company’s stock valued at $31,000 after buying an additional 781 shares during the period. Tucker Asset Management LLC acquired a new stake in Hecla Mining during the fourth quarter worth about $38,000. Finally, Clearstead Advisors LLC increased its stake in Hecla Mining by 462.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,227 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 1,831 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Hecla Mining Company Profile

Hecla Mining Company (NYSE: HL) is a precious and base metals mining company focused primarily on the exploration, development, and production of silver, gold, lead, and zinc. The company sells concentrates and refined metals produced from its mining operations and also maintains a portfolio of exploration and development properties.

Founded in 1891, Hecla is one of the oldest U.S.-based mining companies. Its operating portfolio has included the Greens Creek silver, gold, lead, and zinc mine near Juneau, Alaska; the Lucky Friday silver, lead, and zinc mine in Idaho; the Keno Hill silver district in Yukon, Canada; and the Casa Berardi gold mine in Quebec, Canada.

Through these operations and related exploration activities, Hecla serves the North American metals market, with production and mineral assets located in the United States and Canada.