Hecla Mining (NYSE:HL) Given New $6.50 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets raised the price target for Hecla Mining from $6.00 to $6.50, indicating a potential upside of 5.91% from the last closing price.
• The company reported earnings of $0.08 per share, exceeding estimates, along with a revenue increase of 23.8% year-over-year.
• Institutional investors currently hold 63.01% of Hecla Mining’s shares, reflecting strong interest in the company's stock.

Hecla Mining (NYSE:HL - Free Report) had its price target upped by BMO Capital Markets from $6.00 to $6.50 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a market perform rating on the basic materials company's stock.

A number of other analysts have also recently issued reports on HL. National Bankshares set a $7.00 target price on Hecla Mining in a report on Friday, June 13th. TD Securities decreased 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. National Bank Financial upgraded Hecla Mining to a "hold" rating in a report on Thursday, June 12th. Roth Capital reiterated a "neutral" rating and set a $6.00 target price on shares of Hecla Mining in a report on Tuesday, July 1st. Finally, CIBC boosted their target price on Hecla Mining from $7.50 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.36.

Hecla Mining Trading Up 5.1%

Shares of NYSE HL traded up $0.37 on Thursday, reaching $7.59. 32,374,537 shares of the company traded hands, compared to its average volume of 21,935,930. Hecla Mining has a fifty-two week low of $4.46 and a fifty-two week high of $7.68. The company has a 50 day moving average of $6.06 and a 200 day moving average of $5.66. The company has a current ratio of 1.43, a quick ratio of 0.75 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $5.09 billion, a PE ratio of 47.44 and a beta of 1.27.

Hecla Mining (NYSE:HL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.08 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 5.69%. The company had revenue of $304.03 million during the quarter, compared to the consensus estimate of $248.93 million. During the same quarter in the prior year, the company posted $0.02 EPS. The company's quarterly revenue was up 23.8% compared to the same quarter last year. On average, equities research analysts forecast that Hecla Mining will post 0.21 earnings per share for the current fiscal year.

Hecla Mining Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd will be issued a $0.0038 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, August 22nd. Hecla Mining's dividend payout ratio is currently 6.25%.

Insiders Place Their Bets

In other Hecla Mining news, VP Stuart Maurice Absolom sold 18,926 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $6.66, for a total value of $126,047.16. Following the completion of the transaction, the vice president owned 59,410 shares in the company, valued at $395,670.60. This represents a 24.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hecla Mining

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of Hecla Mining by 20.3% in the 4th quarter. JPMorgan Chase & Co. now owns 4,189,473 shares of the basic materials company's stock valued at $20,570,000 after purchasing an additional 707,712 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Hecla Mining in the 4th quarter valued at approximately $1,640,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Hecla Mining by 8.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,578,828 shares of the basic materials company's stock valued at $7,752,000 after purchasing an additional 127,756 shares in the last quarter. Deutsche Bank AG raised its position in shares of Hecla Mining by 38.5% in the 4th quarter. Deutsche Bank AG now owns 1,307,305 shares of the basic materials company's stock valued at $6,419,000 after purchasing an additional 363,554 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Hecla Mining by 4.1% in the 1st quarter. Bank of New York Mellon Corp now owns 2,913,645 shares of the basic materials company's stock valued at $16,200,000 after purchasing an additional 115,512 shares in 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.