CIBC Forecasts Strong Price Appreciation for Hecla Mining (NYSE:HL) Stock

Hecla Mining (NYSE:HL) had its price objective hoisted by investment analysts at CIBC from $7.50 to $8.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the basic materials company’s stock. CIBC’s target price suggests a potential upside of 33.18% from the company’s current price.

Several other equities analysts have also weighed in on HL. National Bankshares set a $7.00 price target on shares of Hecla Mining in a research report on Friday, June 13th. Roth Capital reiterated a “neutral” rating and issued a $6.00 target price on shares of Hecla Mining in a research note on Tuesday, July 1st. BMO Capital Markets restated a “market perform” rating and set a $5.50 price target (down previously from $7.50) on shares of Hecla Mining in a research note on Monday, May 5th. TD Securities lowered their price target on shares of Hecla Mining from $6.00 to $5.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Finally, National Bank Financial upgraded Hecla Mining to a “hold” rating in a research note on Thursday, June 12th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Hecla Mining has an average rating of “Hold” and a consensus price target of $7.07.

Hecla Mining Stock Performance

Shares of Hecla Mining stock opened at $6.01 on Tuesday. Hecla Mining has a 52 week low of $4.41 and a 52 week high of $7.68. The company has a quick ratio of 0.75, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average price of $5.67 and a 200-day moving average price of $5.55. The company has a market cap of $3.80 billion, a PE ratio of 54.61 and a beta of 1.47.

Hecla Mining (NYSE:HL) last posted its earnings results on Thursday, May 1st. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). Hecla Mining had a return on equity of 3.87% and a net margin of 7.13%. The firm had revenue of $261.34 million during the quarter, compared to the consensus estimate of $238.50 million. During the same quarter in the previous year, the company earned ($0.01) EPS. The business’s revenue was up 37.9% compared to the same quarter last year. Equities analysts anticipate that Hecla Mining will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Catherine J. Boggs acquired 20,000 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $4.99 per share, with a total value of $99,800.00. Following the acquisition, the director owned 348,169 shares of the company’s stock, valued at approximately $1,737,363.31. The trade was a 6.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stuart Maurice Absolom sold 18,926 shares of Hecla Mining stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $6.66, for a total value of $126,047.16. Following the sale, the vice president directly owned 59,410 shares of the company’s stock, valued at approximately $395,670.60. This trade represents a 24.16% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Hecla Mining in the first quarter worth $31,000. DRW Securities LLC purchased a new position in shares of Hecla Mining in the first quarter valued at about $54,000. PFG Investments LLC purchased a new position in shares of Hecla Mining in the first quarter valued at about $56,000. Ground Swell Capital LLC bought a new position in shares of Hecla Mining during the fourth quarter valued at about $57,000. Finally, Hohimer Wealth Management LLC purchased a new stake in shares of Hecla Mining during the first quarter worth about $58,000. 63.01% of the stock is owned by institutional investors.

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.