Hecla Mining (NYSE:HL) Price Target Lowered to $9.00 at HC Wainwright

Hecla Mining (NYSE:HL) had its target price cut by investment analysts at HC Wainwright from $9.25 to $9.00 in a report issued on Tuesday, FlyOnTheWall reports. HC Wainwright’s price objective suggests a potential upside of 114.80% from the company’s previous close.

A number of other brokerages also recently issued reports on HL. BMO Capital Markets began coverage on Hecla Mining in a research report on Thursday, September 14th. They set an “outperform” rating and a $5.50 price target for the company. B. Riley cut their price objective on Hecla Mining from $6.00 to $5.50 and set a “buy” rating for the company in a report on Thursday, August 24th. TheStreet cut Hecla Mining from a “c-” rating to a “d+” rating in a report on Tuesday, September 12th. National Bank Financial assumed coverage on shares of Hecla Mining in a research report on Tuesday, June 27th. They set an “outperform” rating and a $7.50 price target on the stock. Finally, TD Securities cut their price objective on shares of Hecla Mining from $8.00 to $7.50 and set a “buy” rating for the company in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.88.

Hecla Mining Price Performance

Shares of NYSE:HL opened at $4.19 on Tuesday. Hecla Mining has a 12 month low of $3.41 and a 12 month high of $7.00. The company has a current ratio of 1.71, a quick ratio of 1.09 and a debt-to-equity ratio of 0.28. The stock has a market cap of $2.59 billion, a P/E ratio of -46.56 and a beta of 2.09. The company has a 50 day moving average of $4.89 and a 200 day moving average of $5.39.

Hecla Mining (NYSE:HL) last released its quarterly earnings results on Tuesday, August 8th. The basic materials company reported $0.03 earnings per share for the quarter. The firm had revenue of $178.13 million for the quarter, compared to analysts’ expectations of $183.71 million. Hecla Mining had a negative net margin of 6.52% and a positive return on equity of 1.23%. During the same quarter in the prior year, the firm posted $0.04 earnings per share. As a group, sell-side analysts forecast that Hecla Mining will post 0.03 EPS for the current fiscal year.

Insider Activity

In other Hecla Mining news, Director George R. Johnson acquired 8,500 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average price of $4.07 per share, for a total transaction of $34,595.00. Following the acquisition, the director now owns 25,773 shares in the company, valued at approximately $104,896.11. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Hecla Mining

Several institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors lifted its stake in shares of Hecla Mining by 104.3% in the 2nd quarter. Captrust Financial Advisors now owns 9,659 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 4,932 shares during the period. Verition Fund Management LLC purchased a new position in Hecla Mining during the second quarter valued at $40,000. Nomura Holdings Inc. bought a new stake in shares of Hecla Mining during the 2nd quarter valued at $45,000. Dark Forest Capital Management LP bought a new position in shares of Hecla Mining in the 1st quarter worth about $48,000. Finally, Belpointe Asset Management LLC bought a new position in shares of Hecla Mining in the 4th quarter worth about $52,000. 59.00% of the stock is owned by hedge funds and other institutional investors.

About Hecla Mining

Hecla Mining Company, together with its subsidiaries, provides 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.