Hecla Mining (NYSE:HL) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Hecla Mining has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a cautious outlook on the company's stock.
• Roth Capital set a target price of $8.75 for Hecla Mining's shares, designating it with a "sell" rating, while other firms have varied opinions, showcasing a consensus rating of "hold" overall.
• In its most recent quarterly earnings report, Hecla Mining beat earnings expectations with $0.08 EPS, contributing to a 23.8% year-over-year revenue increase of $304.03 million.

Hecla Mining (NYSE:HL - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Several other research firms have also weighed in on HL. Roth Capital set a $8.75 target price on shares of Hecla Mining and gave the stock a "sell" rating in a report on Friday, October 3rd. CIBC increased their target price on shares of Hecla Mining from $12.50 to $15.00 and gave the stock a "neutral" rating in a report on Friday, October 10th. HC Wainwright increased their target price on shares of Hecla Mining from $11.50 to $12.50 and gave the stock a "buy" rating in a report on Thursday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Hecla Mining in a report on Wednesday, October 8th. Finally, BMO Capital Markets increased their target price on shares of Hecla Mining from $6.00 to $6.50 and gave the stock a "market perform" rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Hecla Mining presently has a consensus rating of "Hold" and a consensus price target of $8.75.

Hecla Mining Price Performance

HL opened at $12.95 on Friday. Hecla Mining has a one year low of $4.46 and a one year high of $15.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.67 and a quick ratio of 1.99. The company's 50 day simple moving average is $10.98 and its 200-day simple moving average is $7.61. The stock has a market capitalization of $8.67 billion, a P/E ratio of 80.91 and a beta of 1.31.

Hecla Mining (NYSE:HL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.08 earnings per share (EPS) 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 firm had revenue of $304.03 million for the quarter, compared to analysts' expectations of $248.93 million. During the same period last year, the firm earned $0.02 earnings per share. The business's revenue for the quarter was up 23.8% on a year-over-year basis. Sell-side analysts anticipate that Hecla Mining will post 0.21 earnings per share for the current fiscal year.

Insider Activity at Hecla Mining

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HL. Transce3nd LLC acquired a new stake in Hecla Mining in the 2nd quarter worth about $25,000. USA Financial Formulas acquired a new stake in Hecla Mining in the 3rd quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Hecla Mining in the 1st quarter worth about $31,000. EverSource Wealth Advisors LLC raised its position in shares of Hecla Mining by 255.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,156 shares of the basic materials company's stock valued at $37,000 after buying an additional 4,425 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Hecla Mining during the 2nd quarter worth approximately $44,000. 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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