Hecla Mining (NYSE:HL) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Hecla Mining (NYSE:HL) from a sell rating to a hold rating in a research report released on Friday.

Several other brokerages have also recently issued reports on HL. Roth Mkm dropped their target price on Hecla Mining from $6.25 to $6.00 and set a buy rating on the stock in a research report on Thursday, August 8th. HC Wainwright reiterated a buy rating and issued a $10.25 target price on shares of Hecla Mining in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $7.56.

Hecla Mining Stock Performance

Shares of Hecla Mining stock opened at $6.68 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average price is $5.92 and its 200-day moving average price is $5.50. The firm has a market cap of $4.18 billion, a P/E ratio of -44.53 and a beta of 2.00. Hecla Mining has a 12 month low of $3.33 and a 12 month high of $7.40.

Hecla Mining (NYSE:HL) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $245.66 million during the quarter, compared to analyst estimates of $208.80 million. Hecla Mining had a negative net margin of 5.56% and a negative return on equity of 0.42%. During the same quarter in the previous year, the business posted $0.03 EPS. On average, equities research analysts expect that Hecla Mining will post 0.05 earnings per share for the current fiscal year.

Hecla Mining Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 26th were paid a dividend of $0.0138 per share. This is a positive change from Hecla Mining’s previous quarterly dividend of $0.00. The ex-dividend date was Monday, August 26th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.82%. Hecla Mining’s payout ratio is presently -33.33%.

Insider Activity

In related news, VP Kurt Allen sold 108,612 shares of Hecla Mining stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $6.77, for a total value of $735,303.24. Following the completion of the sale, the vice president now directly owns 173,700 shares in the company, valued at approximately $1,175,949. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Hecla Mining

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Hecla Mining by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 59,420,114 shares of the basic materials company’s stock worth $285,811,000 after buying an additional 1,506,573 shares during the period. Quantbot Technologies LP purchased a new position in shares of Hecla Mining during the first quarter worth $727,000. SG Americas Securities LLC raised its holdings in shares of Hecla Mining by 148.9% during the first quarter. SG Americas Securities LLC now owns 39,208 shares of the basic materials company’s stock worth $189,000 after purchasing an additional 23,457 shares during the last quarter. Norges Bank acquired a new position in Hecla Mining during the fourth quarter valued at $13,761,000. Finally, SCP Investment LP boosted its holdings in Hecla Mining by 34.7% in the fourth quarter. SCP Investment LP now owns 38,800 shares of the basic materials company’s stock valued at $181,000 after purchasing an additional 10,000 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

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.