Hecla Mining (NYSE:HL) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Hecla Mining (NYSE:HL) from a buy rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

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. “

HL has been the subject of several other reports. HC Wainwright restated a buy rating and set a $4.00 price target on shares of Hecla Mining in a report on Monday, July 6th. Royal Bank of Canada upgraded shares of Hecla Mining from an underperform rating to a sector perform rating and lifted their target price for the company from $2.50 to $4.50 in a research note on Friday, July 17th. Canaccord Genuity cut shares of Hecla Mining from a hold rating to a sell rating and set a $1.50 target price for the company. in a research note on Tuesday, April 14th. Finally, B. Riley upgraded shares of Hecla Mining from a neutral rating to a buy rating and set a $5.70 target price for the company in a research note on Tuesday, July 14th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $4.41.

NYSE:HL opened at $5.52 on Wednesday. The company has a quick ratio of 2.28, a current ratio of 2.92 and a debt-to-equity ratio of 0.42. The company has a market cap of $2.81 billion, a P/E ratio of -29.05, a P/E/G ratio of 2,140.00 and a beta of 1.82. Hecla Mining has a fifty-two week low of $1.38 and a fifty-two week high of $5.68. The firm’s 50 day moving average is $3.80 and its two-hundred day moving average is $2.98.

Hecla Mining (NYSE:HL) last posted its quarterly earnings results on Thursday, May 7th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.02). The company had revenue of $136.90 million for the quarter, compared to analysts’ expectations of $153.38 million. Hecla Mining had a negative return on equity of 3.86% and a negative net margin of 13.87%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.04) EPS.

Several large investors have recently modified their holdings of HL. Victory Capital Management Inc. increased its stake in Hecla Mining by 9.1% in the 4th quarter. Victory Capital Management Inc. now owns 89,790 shares of the basic materials company’s stock worth $304,000 after acquiring an additional 7,495 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Hecla Mining by 7.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 80,232 shares of the basic materials company’s stock worth $272,000 after acquiring an additional 5,226 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Hecla Mining by 19.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 460,272 shares of the basic materials company’s stock worth $1,560,000 after acquiring an additional 76,066 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Hecla Mining in the fourth quarter worth $118,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Hecla Mining by 332.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 86,875 shares of the basic materials company’s stock worth $295,000 after acquiring an additional 66,775 shares in the last quarter. Institutional investors own 58.20% 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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