TD Securities Cuts Hecla Mining (NYSE:HL) Price Target to $8.00

Hecla Mining (NYSE:HL) had its price target dropped by stock analysts at TD Securities from $8.50 to $8.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the basic materials company’s stock. TD Securities’ target price would suggest a potential upside of 39.62% from the company’s previous close.

Several other equities research analysts have also issued reports on HL. HC Wainwright reissued a “buy” rating and issued a $10.25 target price on shares of Hecla Mining in a report on Thursday, August 8th. StockNews.com cut shares of Hecla Mining from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Finally, Roth Mkm cut their price target on Hecla Mining from $6.25 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.94.

Hecla Mining Stock Performance

Shares of HL traded down $0.29 during trading hours on Friday, hitting $5.73. The stock had a trading volume of 17,704,760 shares, compared to its average volume of 11,126,655. Hecla Mining has a 12 month low of $3.33 and a 12 month high of $7.68. The stock has a fifty day moving average price of $6.52 and a 200 day moving average price of $5.84. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.29 and a quick ratio of 0.58. The firm has a market capitalization of $3.61 billion, a PE ratio of -143.25 and a beta of 2.00.

Hecla Mining (NYSE:HL) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Hecla Mining had a negative net margin of 2.27% and a positive return on equity of 0.76%. The company had revenue of $245.09 million for the quarter, compared to the consensus estimate of $232.03 million. During the same quarter last year, the firm posted ($0.01) earnings per share. The firm’s revenue was up 34.7% compared to the same quarter last year. Analysts anticipate that Hecla Mining will post 0.07 EPS for the current year.

Insiders Place Their Bets

In other news, VP Kurt Allen sold 108,612 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $6.77, for a total value of $735,303.24. Following the completion of the sale, the vice president now directly owns 173,700 shares of the company’s stock, valued at $1,175,949. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Hecla Mining

Several hedge funds and other institutional investors have recently modified their holdings of HL. Hollencrest Capital Management raised its stake in shares of Hecla Mining by 1.0% during the third quarter. Hollencrest Capital Management now owns 248,727 shares of the basic materials company’s stock valued at $1,659,000 after acquiring an additional 2,367 shares in the last quarter. KBC Group NV lifted its holdings in shares of Hecla Mining by 19.2% in the 3rd quarter. KBC Group NV now owns 18,075 shares of the basic materials company’s stock worth $121,000 after buying an additional 2,909 shares during the period. Empowered Funds LLC grew its position in shares of Hecla Mining by 27.7% during the 1st quarter. Empowered Funds LLC now owns 13,447 shares of the basic materials company’s stock worth $65,000 after buying an additional 2,916 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Hecla Mining by 0.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 338,040 shares of the basic materials company’s stock worth $1,639,000 after acquiring an additional 2,939 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Hecla Mining by 21.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,714 shares of the basic materials company’s stock valued at $111,000 after purchasing an additional 2,982 shares during the period. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Hecla Mining Company Profile

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.