FY2024 EPS Estimates for Hecla Mining Decreased by Analyst

Hecla Mining (NYSE:HL) – Investment analysts at Roth Capital cut their FY2024 earnings per share (EPS) estimates for Hecla Mining in a research note issued on Monday, November 11th. Roth Capital analyst J. Reagor now forecasts that the basic materials company will post earnings per share of $0.06 for the year, down from their prior forecast of $0.08. The consensus estimate for Hecla Mining’s current full-year earnings is $0.06 per share.

Hecla Mining (NYSE:HL) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $245.09 million for the quarter, compared to the consensus estimate of $232.03 million. Hecla Mining had a positive return on equity of 0.75% and a negative net margin of 2.27%. Hecla Mining’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) EPS.

A number of other analysts have also issued reports on HL. Roth Mkm lowered their price target on Hecla Mining from $6.25 to $6.00 and set a “buy” rating for the company in a report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and set a $10.25 price target on shares of Hecla Mining in a research report on Thursday, August 8th. StockNews.com lowered shares of Hecla Mining from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. TD Securities lowered their price target on shares of Hecla Mining from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, National Bank Financial downgraded shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.94.

Hecla Mining Stock Performance

Shares of HL opened at $5.46 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.54 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $6.52 and a 200 day moving average of $5.85. Hecla Mining has a 1-year low of $3.33 and a 1-year high of $7.68.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HL. Continuum Advisory LLC lifted its holdings in shares of Hecla Mining by 313.6% during the second quarter. Continuum Advisory LLC now owns 6,551 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 4,967 shares during the period. Innealta Capital LLC purchased a new stake in shares of Hecla Mining in the 2nd quarter valued at $41,000. Sound Income Strategies LLC acquired a new stake in shares of Hecla Mining in the third quarter worth $49,000. Ballentine Partners LLC purchased a new position in shares of Hecla Mining during the second quarter worth $54,000. Finally, Oak Family Advisors LLC acquired a new position in Hecla Mining during the second quarter valued at $55,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Insider Buying and Selling

In other Hecla Mining news, VP Kurt Allen sold 108,612 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,175,949. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.

Hecla Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be given a $0.0138 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.01%. Hecla Mining’s payout ratio is -125.00%.

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.