CIBC Forecasts Strong Price Appreciation for Hecla Mining (NYSE:HL) Stock

Hecla Mining (NYSE:HL - Get Free Report) had its target price increased by stock analysts at CIBC from $7.50 to $8.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the basic materials company's stock. CIBC's target price indicates a potential upside of 36.64% from the company's current price.

Several other analysts have also recently issued reports on HL. National Bankshares set a $7.00 target price on Hecla Mining in a research note on Friday, June 13th. Roth Capital restated a "neutral" rating and issued a $6.00 target price on shares of Hecla Mining in a report on Tuesday, July 1st. BMO Capital Markets restated a "market perform" rating and set a $5.50 target price (down previously from $7.50) on shares of Hecla Mining in a research note on Monday, May 5th. National Bank Financial upgraded shares of Hecla Mining to a "hold" rating in a research report on Thursday, June 12th. Finally, TD Securities lowered their target price on Hecla Mining from $6.00 to $5.00 and set a "hold" rating for the company in a report on Monday, May 5th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Hecla Mining has a consensus rating of "Hold" and a consensus target price of $7.07.

Hecla Mining Stock Performance

Shares of Hecla Mining stock traded down $0.26 on Tuesday, reaching $5.86. 7,106,284 shares of the company traded hands, compared to its average volume of 16,186,079. Hecla Mining has a 52 week low of $4.41 and a 52 week high of $7.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.43 and a quick ratio of 0.75. The company has a 50 day moving average of $5.64 and a 200 day moving average of $5.55. The firm has a market capitalization of $3.70 billion, a PE ratio of 53.23 and a beta of 1.47.

Hecla Mining (NYSE:HL - Get Free Report) last posted its earnings results on Thursday, May 1st. The basic materials company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01). Hecla Mining had a return on equity of 3.87% and a net margin of 7.13%. The firm had revenue of $261.34 million for the quarter, compared to the consensus estimate of $238.50 million. During the same period last year, the company posted ($0.01) EPS. The business's revenue was up 37.9% on a year-over-year basis. Equities analysts forecast that Hecla Mining will post 0.21 earnings per share for the current year.

Insider Activity

In other news, Director Catherine J. Boggs bought 20,000 shares of the stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $4.99 per share, with a total value of $99,800.00. Following the completion of the acquisition, the director owned 348,169 shares of the company's stock, valued at approximately $1,737,363.31. This trade represents a 6.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stuart Maurice Absolom sold 18,926 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $6.66, for a total transaction of $126,047.16. Following the transaction, the vice president owned 59,410 shares of the company's stock, valued at $395,670.60. This trade represents a 24.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Proficio Capital Partners LLC acquired a new position in Hecla Mining during the 4th quarter worth $207,000. Raymond James Financial Inc. acquired a new stake in Hecla Mining during the 4th quarter worth approximately $1,640,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Hecla Mining by 24.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 202,867 shares of the basic materials company's stock valued at $996,000 after purchasing an additional 40,493 shares during the last quarter. HighTower Advisors LLC increased its position in Hecla Mining by 421.0% during the fourth quarter. HighTower Advisors LLC now owns 140,619 shares of the basic materials company's stock worth $690,000 after acquiring an additional 113,631 shares during the period. Finally, Swiss National Bank lifted its position in shares of Hecla Mining by 1.3% during the 4th quarter. Swiss National Bank now owns 1,176,662 shares of the basic materials company's stock worth $5,777,000 after buying an additional 15,200 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

Hecla Mining Company Profile

Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States, Canada, Japan, Korea, and China. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for custom smelters, metal traders, and third-party processors; and doré containing silver and gold.