Hecla Mining (NYSE:HL) Upgraded by BMO Capital Markets to “Market Perform”

BMO Capital Markets upgraded shares of Hecla Mining (NYSE:HL) from an underperform rating to a market perform rating in a research report sent to investors on Thursday morning, Benzinga’s Daily Ratings Newsletter reports. The firm currently has $2.20 price objective on the basic materials company’s stock, up from their previous price objective of $1.60.

HL has been the topic of several other research reports. Canaccord Genuity cut shares of Hecla Mining from a hold rating to a sell rating and set a $2.00 price objective on the stock. in a research note on Wednesday, August 7th. B. Riley lowered their price objective on shares of Hecla Mining from $2.30 to $1.80 and set a neutral rating on the stock in a research note on Friday, October 11th. Zacks Investment Research cut shares of Hecla Mining from a buy rating to a hold rating in a research note on Tuesday, November 5th. Finally, HC Wainwright increased their price objective on shares of Hecla Mining from $3.00 to $3.75 and gave the stock a buy rating in a research note on Monday, August 19th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $2.10.

HL traded up $0.08 during midday trading on Thursday, hitting $2.31. 7,844,255 shares of the company traded hands, compared to its average volume of 7,279,325. The company has a quick ratio of 0.55, a current ratio of 1.23 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $1.13 billion, a PE ratio of -21.00 and a beta of 0.97. The company’s 50-day moving average is $2.03 and its 200 day moving average is $1.80. Hecla Mining has a 52 week low of $1.21 and a 52 week high of $3.07.

Hecla Mining (NYSE:HL) last posted its earnings results on Thursday, November 7th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01). The company had revenue of $161.50 million for the quarter, compared to the consensus estimate of $179.40 million. Hecla Mining had a negative net margin of 20.98% and a negative return on equity of 6.02%. Hecla Mining’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) EPS. On average, sell-side analysts predict that Hecla Mining will post -0.13 earnings per share for the current fiscal year.

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In other news, Director Catherine J. Boggs bought 40,540 shares of Hecla Mining stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average cost of $1.50 per share, with a total value of $60,810.00. Following the acquisition, the director now owns 40,540 shares of the company’s stock, valued at approximately $60,810. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Hecla Mining by 4.7% during the 2nd quarter. BlackRock Inc. now owns 34,285,217 shares of the basic materials company’s stock valued at $61,715,000 after buying an additional 1,533,202 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Hecla Mining by 5.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 10,500,000 shares of the basic materials company’s stock valued at $18,900,000 after buying an additional 500,000 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in Hecla Mining by 35.2% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 9,767,935 shares of the basic materials company’s stock valued at $17,192,000 after buying an additional 2,541,606 shares in the last quarter. Morgan Stanley grew its holdings in Hecla Mining by 22.0% during the 2nd quarter. Morgan Stanley now owns 6,255,702 shares of the basic materials company’s stock valued at $11,260,000 after buying an additional 1,129,826 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Hecla Mining by 1.5% during the 2nd quarter. Northern Trust Corp now owns 5,698,988 shares of the basic materials company’s stock valued at $10,258,000 after buying an additional 81,896 shares in the last quarter. 56.61% of the stock is owned by institutional investors.

About Hecla Mining

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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Analyst Recommendations for Hecla Mining (NYSE:HL)

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