Hecla Mining (NYSE:HL) Upgraded to "Buy" at Canaccord Genuity Group

Key Points

• Canaccord Genuity upgraded Hecla Mining (NYSE:HL) from a "hold" to a "buy" in a report issued Wednesday.
• Despite some bullish notes and higher price targets from firms like HC Wainwright ($36.50) and BMO ($28), the analyst consensus remains a "Hold" with a consensus price target of $21.63.
• Shares traded at $17.43 on the report day—below the 50‑day ($20.03) and 200‑day ($19.27) averages—with a market cap of $11.68 billion and about 63% of stock held by institutions.

Hecla Mining (NYSE:HL - Get Free Report) was upgraded by stock analysts at Canaccord Genuity Group from a "hold" rating to a "buy" rating in a report issued on Wednesday.

A number of other research analysts have also recently commented on HL. Roth Mkm set a $13.00 price target on shares of Hecla Mining in a research report on Wednesday, February 18th. Zacks Research cut shares of Hecla Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, February 13th. Wall Street Zen cut shares of Hecla Mining from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 29th. HC Wainwright raised their price objective on Hecla Mining from $16.50 to $36.50 and gave the company a "buy" rating in a research report on Tuesday, January 27th. Finally, BMO Capital Markets lifted their price objective on Hecla Mining from $16.00 to $28.00 and gave the stock a "market perform" rating in a report on Tuesday, January 27th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Hecla Mining has a consensus rating of "Hold" and a consensus price target of $21.63.

Hecla Mining Price Performance

HL traded down $0.42 on Wednesday, reaching $17.43. The company had a trading volume of 3,707,389 shares, compared to its average volume of 21,174,602. The business has a 50 day simple moving average of $20.03 and a 200 day simple moving average of $19.27. The company has a market cap of $11.68 billion, a price-to-earnings ratio of 35.46 and a beta of 1.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.22 and a current ratio of 2.72. Hecla Mining has a 52-week low of $4.51 and a 52-week high of $34.17.

Institutional Trading of Hecla Mining

Several hedge funds have recently modified their holdings of HL. Veracity Capital LLC raised its holdings in Hecla Mining by 4.0% during the 4th quarter. Veracity Capital LLC now owns 11,005 shares of the basic materials company's stock valued at $211,000 after buying an additional 419 shares during the period. CWM LLC raised its holdings in Hecla Mining by 1.4% during the 4th quarter. CWM LLC now owns 31,853 shares of the basic materials company's stock valued at $611,000 after buying an additional 434 shares during the period. Blue Trust Inc. grew its position in Hecla Mining by 9.5% in the 4th quarter. Blue Trust Inc. now owns 5,786 shares of the basic materials company's stock valued at $111,000 after acquiring an additional 500 shares during the last quarter. Parallel Advisors LLC grew its position in Hecla Mining by 33.9% in the 4th quarter. Parallel Advisors LLC now owns 2,011 shares of the basic materials company's stock valued at $39,000 after acquiring an additional 509 shares during the last quarter. Finally, Root Financial Partners LLC grew its position in Hecla Mining by 26.9% in the 1st quarter. Root Financial Partners LLC now owns 2,540 shares of the basic materials company's stock valued at $47,000 after acquiring an additional 538 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

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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