Hecla Mining (NYSE:HL) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Key Points

• Hecla Mining reported $0.17 in quarterly EPS, missing the $0.18 consensus estimate by $0.01. Revenue rose 9.8% year over year to $333.85 million but fell short of analysts’ $368.75 million forecast.
• Shares rose 7.0% to $15.44 following the results, while the stock remains within a wide 12-month range of $5.86 to $34.17.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $24.12 price target; institutional investors own approximately 63.01% of the company.

Hecla Mining (NYSE:HL - Get Free Report) issued its quarterly earnings results on Tuesday. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01), FiscalAI reports. Hecla Mining had a net margin of 17.41% and a return on equity of 16.89%. The company had revenue of $333.85 million during the quarter, compared to analyst estimates of $368.75 million. During the same period in the prior year, the business earned $0.09 EPS. The business's revenue for the quarter was up 9.8% on a year-over-year basis.

Hecla Mining Trading Up 7.0%

Shares of HL traded up $1.00 on Tuesday, reaching $15.44. 33,635,285 shares of the company's stock were exchanged, compared to its average volume of 24,336,896. The company has a current ratio of 4.94, a quick ratio of 4.53 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $10.35 billion, a P/E ratio of 37.65 and a beta of 1.32. The business has a 50 day moving average price of $15.61 and a two-hundred day moving average price of $19.14. Hecla Mining has a 12 month low of $5.86 and a 12 month high of $34.17.

Wall Street Analyst Weigh In

Several research analysts have issued reports on HL shares. HC Wainwright reduced their price objective on Hecla Mining from $36.50 to $26.75 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Scotiabank lowered their target price on Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. Wall Street Zen downgraded Hecla Mining from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Canaccord Genuity Group raised Hecla Mining from a "hold" rating to a "buy" rating and set a $24.00 price target on the stock in a research note on Wednesday, April 29th. Finally, Weiss Ratings lowered Hecla Mining from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, June 5th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Hecla Mining presently has a consensus rating of "Hold" and a consensus price target of $24.12.

Institutional Trading of Hecla Mining

A number of institutional investors have recently bought and sold shares of HL. Kemnay Advisory Services Inc. acquired a new position in shares of Hecla Mining in the 4th quarter valued at $108,000. UMB Bank n.a. grew its stake in shares of Hecla Mining by 120.7% during the fourth quarter. UMB Bank n.a. now owns 5,495 shares of the basic materials company's stock worth $105,000 after purchasing an additional 3,005 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of Hecla Mining during the third quarter worth $97,000. Advisory Services Network LLC bought a new stake in Hecla Mining in the third quarter valued at about $114,000. Finally, Employees Retirement System of Texas bought a new stake in Hecla Mining in the third quarter valued at about $65,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Hecla Mining Company Profile

Hecla Mining Company, founded in 1891 and headquartered in Coeur d'Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d'Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.

The company's principal operations are located in North America and Latin America.

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