Hecla Mining (NYSE:HL) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Hecla Mining (NYSE:HL) from a buy rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Hecla Mining Company is a leading low-cost U.S. silver producer with operating mines in Alaska and Idaho, and is a growing gold producer with an operating mine in Quebec, Canada. The Company also has exploration and pre-development properties in five world-class silver and gold mining districts in the U.S., Canada, and Mexico, and an exploration office and investments in early-stage silver exploration projects in Canada. “

Other research analysts have also issued reports about the stock. Royal Bank of Canada upgraded shares of Hecla Mining from an underperform rating to a sector perform rating and upped their target price for the stock from $2.50 to $4.50 in a research report on Friday, July 17th. Canaccord Genuity lowered shares of Hecla Mining from a hold rating to a sell rating and set a $1.50 target price on the stock. in a research report on Tuesday, April 14th. HC Wainwright restated a buy rating and set a $4.00 target price on shares of Hecla Mining in a research report on Monday, July 6th. Finally, B. Riley upgraded shares of Hecla Mining from a neutral rating to a buy rating and set a $5.70 target price on the stock in a research report on Tuesday, July 14th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $4.41.

Shares of Hecla Mining stock opened at $5.52 on Wednesday. Hecla Mining has a 52-week low of $1.38 and a 52-week high of $5.68. The company has a quick ratio of 2.28, a current ratio of 2.92 and a debt-to-equity ratio of 0.42. The company’s 50-day simple moving average is $3.80 and its 200-day simple moving average is $2.98. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -29.05, a price-to-earnings-growth ratio of 2,140.00 and a beta of 1.82.

Hecla Mining (NYSE:HL) last issued its quarterly earnings results on Thursday, May 7th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). Hecla Mining had a negative return on equity of 3.86% and a negative net margin of 13.87%. The firm had revenue of $136.90 million for the quarter, compared to analyst estimates of $153.38 million. During the same quarter last year, the firm earned ($0.04) earnings per share. The company’s revenue was down 10.3% compared to the same quarter last year.

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in shares of Hecla Mining by 35.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,880 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 2,080 shares during the last quarter. Creative Planning grew its holdings in shares of Hecla Mining by 5.6% in the 2nd quarter. Creative Planning now owns 61,128 shares of the basic materials company’s stock worth $200,000 after purchasing an additional 3,250 shares during the last quarter. CWM LLC grew its holdings in shares of Hecla Mining by 8.6% in the 2nd quarter. CWM LLC now owns 50,728 shares of the basic materials company’s stock worth $166,000 after purchasing an additional 4,000 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Hecla Mining by 7.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 80,232 shares of the basic materials company’s stock worth $272,000 after purchasing an additional 5,226 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Hecla Mining by 38.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 19,054 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 5,242 shares during the last quarter. Institutional investors and hedge funds own 58.20% of the company’s stock.

Hecla Mining Company Profile

Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal properties worldwide. The company offers lead, zinc, and bulk flotation concentrates to custom smelters and brokers; and unrefined gold and silver bullion bars to precious metals traders.

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