Hecla Mining (NYSE:HL) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Key Points

• Hecla Mining reported quarterly EPS of $0.22, beating the $0.14 consensus estimate by $0.08; its net margin was 20.84% and return on equity was 18.91%.
• Shares fell 2.5% to $13.20 on Tuesday, despite the earnings beat.
• Analyst sentiment was mostly neutral: the stock had a consensus “Hold” rating and an average price target of $23.34, with three Buy, six Hold, and one Sell rating.

Hecla Mining (NYSE:HL - Get Free Report) announced its earnings results on Tuesday. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.08, Zacks reports. Hecla Mining had a net margin of 20.84% and a return on equity of 18.91%.

Hecla Mining Trading Down 2.5%

HL traded down $0.34 on Tuesday, hitting $13.20. 28,939,719 shares of the company's stock traded hands, compared to its average volume of 27,459,350. The company's 50 day simple moving average is $17.57 and its 200-day simple moving average is $18.66. Hecla Mining has a one year low of $11.81 and a one year high of $34.17. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 26.93 and a beta of 1.37.

Analysts Set New Price Targets

Several research firms have weighed in on HL. Weiss Ratings downgraded shares of Hecla Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, October 23rd. Royal Bank Of Canada cut 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 report on Wednesday, September 16th. Zacks Research raised shares of Hecla Mining to a "hold" rating in a research report on Friday, July 17th. Jefferies Financial Group assumed coverage on Hecla Mining in a research note on Thursday, August 20th. They issued a "hold" rating and a $22.00 price objective for the company. Finally, Scotiabank decreased their target price on Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 14th. 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, the stock has an average rating of "Hold" and a consensus target price of $23.34.

Hecla Mining Company Profile

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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