Zacks Investment Research Downgrades Hecla Mining (NYSE:HL) to Strong Sell

Hecla Mining (NYSE:HLGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, 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. “

Several other analysts have also weighed in on HL. HC Wainwright boosted their price objective on Hecla Mining from $7.75 to $8.25 and gave the company a “buy” rating in a report on Wednesday, April 13th. Roth Capital upgraded Hecla Mining from a “neutral” rating to a “buy” rating and decreased their target price for the company from $6.50 to $6.25 in a research note on Wednesday, May 11th. B. Riley decreased their target price on Hecla Mining from $11.00 to $9.00 in a research note on Wednesday, May 11th. Finally, StockNews.com downgraded Hecla Mining from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.76.

Shares of Hecla Mining stock opened at $4.52 on Tuesday. The company has a quick ratio of 1.71, a current ratio of 1.83 and a debt-to-equity ratio of 0.31. The firm has a market cap of $2.44 billion, a P/E ratio of -28.25 and a beta of 2.07. Hecla Mining has a fifty-two week low of $4.07 and a fifty-two week high of $9.44. The business has a 50-day moving average price of $6.17 and a 200 day moving average price of $5.73.

Hecla Mining (NYSE:HLGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The basic materials company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). The firm had revenue of $186.50 million during the quarter, compared to the consensus estimate of $186.09 million. Hecla Mining had a net margin of 2.02% and a return on equity of 2.76%. The firm’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share. As a group, equities research analysts anticipate that Hecla Mining will post 0.09 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of HL. Morgan Stanley boosted its position in shares of Hecla Mining by 268.5% during the second quarter. Morgan Stanley now owns 3,793,684 shares of the basic materials company’s stock worth $28,224,000 after buying an additional 2,764,286 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Hecla Mining by 19.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 89,194 shares of the basic materials company’s stock worth $491,000 after buying an additional 14,787 shares during the period. Advisor Group Holdings Inc. boosted its position in shares of Hecla Mining by 10.2% during the third quarter. Advisor Group Holdings Inc. now owns 171,651 shares of the basic materials company’s stock worth $945,000 after buying an additional 15,859 shares during the period. Swiss National Bank boosted its position in shares of Hecla Mining by 0.3% during the third quarter. Swiss National Bank now owns 1,183,162 shares of the basic materials company’s stock worth $6,507,000 after buying an additional 3,500 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Hecla Mining by 23.5% in the third quarter. Mackenzie Financial Corp now owns 68,049 shares of the basic materials company’s stock worth $374,000 after purchasing an additional 12,950 shares during the period. Institutional investors and hedge funds own 59.78% of the company’s stock.

About Hecla Mining (Get Rating)

Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal properties in the United States and internationally. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for sale to custom smelters, metal traders, and third-party processors,; and doré containing silver and gold.

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