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

Key Points

• Royal Bank of Canada lowered Hecla Mining’s price target to $20 from $24 while maintaining an “outperform” rating, implying roughly 9.8% upside from the prior close.
• Analyst sentiment is mixed: Hecla has a consensus “Hold” rating and an average price target of $23.34, based on three Buy, six Hold, and one Sell rating.
• Hecla’s latest quarter fell slightly short of expectations, with EPS of $0.17 versus $0.18 expected and revenue of $333.85 million versus $368.75 million estimated, although revenue increased 9.8% year over year.

Hecla Mining (NYSE:HL - Get Free Report) had its target price cut by research analysts at Royal Bank Of Canada from $24.00 to $20.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an "outperform" rating on the basic materials company's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 9.79% from the stock's previous close.

Several other research firms have also recently issued reports on HL. Zacks Research upgraded shares of Hecla Mining to a "hold" rating in a research report on Friday, July 17th. Scotiabank cut their price objective on Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 14th. Jefferies Financial Group started coverage on Hecla Mining in a research report on Thursday, August 20th. They set a "hold" rating and a $22.00 target price for the company. Finally, Weiss Ratings upgraded shares of Hecla Mining from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, September 8th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Hecla Mining currently has a consensus rating of "Hold" and a consensus price target of $23.34.

Hecla Mining Stock Performance

NYSE:HL traded down $0.46 on Wednesday, hitting $18.22. The 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 has a market cap of $12.24 billion, a P/E ratio of 37.30 and a beta of 1.38. The firm's fifty day simple moving average is $17.66 and its two-hundred day simple moving average is $17.95.

Hecla Mining (NYSE:HL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $333.85 million for the quarter, compared to the consensus estimate of $368.75 million. Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%. Hecla Mining's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS. Equities research analysts predict that Hecla Mining will post 0.46 EPS for the current year.

Institutional Trading of Hecla Mining

A number of hedge funds have recently added to or reduced their stakes in the business. Sittner & Nelson LLC bought a new stake in shares of Hecla Mining in the 4th quarter valued at about $29,000. Rothschild Investment LLC lifted its holdings in Hecla Mining by 93.5% during the fourth quarter. Rothschild Investment LLC now owns 1,616 shares of the basic materials company's stock worth $31,000 after buying an additional 781 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in Hecla Mining during the 4th quarter valued at $31,000. EFG International AG purchased a new position in shares of Hecla Mining in the 2nd quarter valued at $36,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of Hecla Mining during the 4th quarter worth $38,000. 63.01% of the stock is 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.

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