Hecla Mining (HL) Stock Rating Lowered by Canaccord Genuity

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Hecla Mining (NYSE:HL) was downgraded by Canaccord Genuity from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports.

Several other research firms also recently commented on HL. HC Wainwright set a $7.00 target price on Hecla Mining and gave the stock a “buy” rating in a report on Wednesday, September 26th. B. Riley dropped their target price on Hecla Mining from $5.00 to $3.75 and set a “buy” rating on the stock in a report on Thursday, September 20th. Zacks Investment Research downgraded Hecla Mining from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. ValuEngine raised Hecla Mining from a “strong sell” rating to a “sell” rating in a report on Monday, September 17th. Finally, Roth Capital initiated coverage on Hecla Mining in a report on Monday, September 10th. They issued a “buy” rating and a $5.00 target price on the stock. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Hecla Mining presently has a consensus rating of “Hold” and an average price target of $4.67.

Shares of NYSE HL traded down $0.06 during mid-day trading on Thursday, hitting $2.90. 5,796,325 shares of the stock traded hands, compared to its average volume of 4,701,065. The company has a quick ratio of 2.77, a current ratio of 3.35 and a debt-to-equity ratio of 0.36. Hecla Mining has a 52 week low of $2.59 and a 52 week high of $5.32. The firm has a market capitalization of $1.33 billion, a PE ratio of 29.00, a P/E/G ratio of 139.50 and a beta of 0.19.

Hecla Mining (NYSE:HL) last released its quarterly earnings results on Thursday, August 9th. The basic materials company reported $0.01 earnings per share for the quarter. Hecla Mining had a positive return on equity of 2.91% and a negative net margin of 1.02%. The company had revenue of $147.30 million for the quarter, compared to analyst estimates of $143.33 million. During the same period in the previous year, the company posted ($0.04) earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Hecla Mining will post 0.02 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its holdings in Hecla Mining by 2.4% in the second quarter. Northern Trust Corp now owns 4,889,054 shares of the basic materials company’s stock worth $17,014,000 after acquiring an additional 114,575 shares in the last quarter. Global X Management Co LLC lifted its holdings in shares of Hecla Mining by 34.1% during the second quarter. Global X Management Co LLC now owns 5,639,768 shares of the basic materials company’s stock valued at $19,626,000 after purchasing an additional 1,435,562 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Hecla Mining by 27.0% during the second quarter. Millennium Management LLC now owns 2,247,863 shares of the basic materials company’s stock valued at $7,823,000 after purchasing an additional 477,963 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Hecla Mining during the second quarter valued at $208,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Hecla Mining by 13,731.8% during the second quarter. Tower Research Capital LLC TRC now owns 48,273 shares of the basic materials company’s stock valued at $168,000 after purchasing an additional 47,924 shares in the last quarter. 51.95% of the stock is currently owned by institutional investors and hedge funds.

Hecla Mining Company Profile

Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal deposits worldwide. The company offers zinc, lead, 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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