CIBC Issues Positive Forecast for Hecla Mining (NYSE:HL) Stock Price

Key Points

• CIBC has raised its price target for Hecla Mining (NYSE:HL) from $12.50 to $15.00, indicating a potential upside of 19.57% from the previous close.
• The stock has received a mix of ratings, including "buy" from Wall Street Zen and a consensus rating of "hold" with an average price target of $8.75 from other analysts.
• Hecla Mining reported $0.08 earnings per share for the last quarter, beating analysts' estimates and showcasing a revenue increase of 23.8% year-over-year.

Hecla Mining (NYSE:HL - Get Free Report) had its target price raised by CIBC from $12.50 to $15.00 in a report released on Friday,Benzinga reports. The firm currently has a "neutral" rating on the basic materials company's stock. CIBC's price objective would indicate a potential upside of 19.57% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Wall Street Zen raised shares of Hecla Mining from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. National Bankshares set a $7.00 price target on shares of Hecla Mining in a research note on Friday, June 13th. National Bank Financial raised shares of Hecla Mining to a "hold" rating in a research report on Thursday, June 12th. Roth Capital set a $8.75 price target on shares of Hecla Mining and gave the stock a "sell" rating in a research report on Friday, October 3rd. Finally, BMO Capital Markets raised their target price on shares of Hecla Mining from $6.00 to $6.50 and gave the company a "market perform" rating in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Hecla Mining presently has an average rating of "Hold" and a consensus price target of $8.75.

Hecla Mining Trading Down 1.9%

Hecla Mining stock traded down $0.25 during midday trading on Friday, reaching $12.55. The stock had a trading volume of 14,541,198 shares, compared to its average volume of 22,307,199. The firm's fifty day simple moving average is $9.54 and its two-hundred day simple moving average is $6.99. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of 78.52 and a beta of 1.31. Hecla Mining has a twelve month low of $4.46 and a twelve month high of $13.84. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 1.99.

Hecla Mining (NYSE:HL - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. Hecla Mining had a net margin of 9.55% and a return on equity of 5.51%. The business had revenue of $304.03 million for the quarter, compared to the consensus estimate of $248.93 million. During the same quarter last year, the firm earned $0.02 EPS. Hecla Mining's revenue for the quarter was up 23.8% on a year-over-year basis. Equities analysts anticipate that Hecla Mining will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Stuart Maurice Absolom sold 14,472 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $11.29, for a total transaction of $163,388.88. Following the sale, the vice president directly owned 73,200 shares in the company, valued at $826,428. This represents a 16.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.62% of the stock is currently owned by company insiders.

Institutional Trading of Hecla Mining

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Hecla Mining by 28.7% during the third quarter. GAMMA Investing LLC now owns 6,426 shares of the basic materials company's stock valued at $78,000 after acquiring an additional 1,434 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Hecla Mining by 3.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 61,291 shares of the basic materials company's stock worth $367,000 after acquiring an additional 1,779 shares during the last quarter. KLP Kapitalforvaltning AS increased its stake in Hecla Mining by 1.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 125,800 shares of the basic materials company's stock worth $754,000 after acquiring an additional 1,900 shares during the last quarter. Focus Partners Advisor Solutions LLC increased its position in shares of Hecla Mining by 10.9% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 21,657 shares of the basic materials company's stock valued at $120,000 after purchasing an additional 2,135 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Hecla Mining by 13.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,883 shares of the basic materials company's stock valued at $93,000 after acquiring an additional 2,169 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

About Hecla Mining

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.

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