Hecla Mining (HL) Hits New 1-Year Low Following Weak Earnings

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Hecla Mining (NYSE:HL) hit a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $2.17 and last traded at $2.43, with a volume of 108264 shares changing hands. The stock had previously closed at $2.43.

The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The business had revenue of $143.70 million during the quarter, compared to the consensus estimate of $149.34 million. Hecla Mining had a negative net margin of 1.02% and a positive return on equity of 2.91%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $0.04 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Tuesday, November 20th will be paid a $0.0025 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Monday, November 19th. Hecla Mining’s dividend payout ratio (DPR) is presently 10.00%.

HL has been the topic of several recent research reports. ValuEngine raised shares of Hecla Mining from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Zacks Investment Research raised shares of Hecla Mining from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. B. Riley cut their price target on shares of Hecla Mining from $5.00 to $3.75 and set a “buy” rating on the stock in a research report on Thursday, September 20th. Canaccord Genuity downgraded shares of Hecla Mining from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $4.00 price target on shares of Hecla Mining in a research report on Friday, August 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $4.61.

Several large investors have recently made changes to their positions in HL. BlackRock Inc. raised its position in shares of Hecla Mining by 16.2% in the 3rd quarter. BlackRock Inc. now owns 32,513,553 shares of the basic materials company’s stock valued at $90,712,000 after acquiring an additional 4,525,664 shares during the period. Van ECK Associates Corp raised its holdings in Hecla Mining by 7.4% during the 2nd quarter. Van ECK Associates Corp now owns 44,849,502 shares of the basic materials company’s stock worth $156,076,000 after buying an additional 3,102,585 shares during the period. CI Investments Inc. acquired a new stake in Hecla Mining during the 3rd quarter worth approximately $7,332,000. Global X Management Co LLC raised its holdings in Hecla Mining by 34.1% during the 2nd quarter. Global X Management Co LLC now owns 5,639,768 shares of the basic materials company’s stock worth $19,626,000 after buying an additional 1,435,562 shares during the period. Finally, Congress Asset Management Co. MA acquired a new stake in Hecla Mining during the 3rd quarter worth approximately $3,428,000. Institutional investors and hedge funds own 51.90% of the company’s stock.

The company has a current ratio of 3.35, a quick ratio of 2.77 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1.16 billion, a P/E ratio of 24.30, a P/E/G ratio of 151.88 and a beta of 0.41.

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Hecla Mining Company Profile (NYSE:HL)

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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