Hecla Mining Company (NYSE:HL) Stock Has Average Target Price of $23.34

Key Points

• Analysts have a consensus “Hold” rating on Hecla Mining, with six holds, three buys, and one sell; the average 12-month price target is $23.34.
• Institutional investors own 63.01% of the company’s stock, with BlackRock establishing a new $1.09 billion position and VanEck increasing its stake by 15.3%.
• Hecla shares opened at $13.53, well below the average analyst target, while the company’s latest quarterly results missed estimates on both earnings and revenue despite 9.8% year-over-year revenue growth.

Shares of Hecla Mining Company (NYSE:HL - Get Free Report) have been given an average recommendation of "Hold" by the ten analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $23.34.

A number of equities analysts recently issued reports on the stock. Weiss Ratings downgraded shares of Hecla Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 23rd. Royal Bank Of Canada dropped their price objective on shares of Hecla Mining from $24.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, September 16th. Jefferies Financial Group began coverage on shares of Hecla Mining in a research report on Thursday, August 20th. They set a "hold" rating and a $22.00 price target for the company. Zacks Research raised shares of Hecla Mining to a "hold" rating in a report on Friday, July 17th. Finally, Scotiabank lowered their target price 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.

Institutional Investors Weigh In On Hecla Mining

Several hedge funds have recently made changes to their positions in HL. BlackRock Inc. bought a new stake in Hecla Mining in the 2nd quarter valued at $1,085,779,000. Van ECK Associates Corp raised its stake in shares of Hecla Mining by 15.3% in the second quarter. Van ECK Associates Corp now owns 38,174,114 shares of the basic materials company's stock worth $589,027,000 after acquiring an additional 5,053,624 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Hecla Mining by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 4,689,144 shares of the basic materials company's stock worth $87,359,000 after acquiring an additional 112,962 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Hecla Mining in the first quarter valued at approximately $72,659,000. Finally, Principal Financial Group Inc. increased its stake in Hecla Mining by 43.6% in the first quarter. Principal Financial Group Inc. now owns 2,085,290 shares of the basic materials company's stock valued at $38,849,000 after purchasing an additional 632,831 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company's stock.

Hecla Mining Stock Performance

HL stock opened at $13.53 on Monday. The firm has a market capitalization of $9.09 billion, a PE ratio of 27.61 and a beta of 1.44. The business's 50 day simple moving average is $17.71 and its 200 day simple moving average is $18.71. Hecla Mining has a 1-year low of $11.81 and a 1-year high of $34.17.

Hecla Mining (NYSE:HL - Get Free Report) last announced its earnings results on Tuesday, August 4th. The basic materials company reported $0.17 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%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 EPS. As a group, sell-side analysts predict that Hecla Mining will post 0.46 EPS for the current fiscal year.

About Hecla Mining

Hecla Mining Company NYSE: HL is a precious and base metals mining company that explores for, develops, and produces silver, gold, lead, and zinc. The company also undertakes activities related to mineral processing, mine development, and exploration of additional mineral resources.

Founded in 1891, Hecla is headquartered in Coeur d'Alene, Idaho, and is one of the oldest mining companies listed on the New York Stock Exchange. Its operating portfolio has included the Greens Creek silver-gold-lead-zinc mine in Alaska, the Lucky Friday silver-lead-zinc mine in Idaho, the Casa Berardi gold mine in Quebec, and the Keno Hill silver operations in Yukon, Canada.

Through its mines and exploration projects in the United States and Canada, Hecla supplies silver and other metals to industrial, investment, and manufacturing markets.

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