B. Riley Has Optimistic View of Hecla Mining FY2024 Earnings

Hecla Mining (NYSE:HL) – Research analysts at B. Riley raised their FY2024 earnings estimates for shares of Hecla Mining in a note issued to investors on Tuesday, December 17th. B. Riley analyst L. Pipes now expects that the basic materials company will post earnings per share of $0.12 for the year, up from their prior estimate of $0.10. The consensus estimate for Hecla Mining’s current full-year earnings is $0.06 per share. B. Riley also issued estimates for Hecla Mining’s Q4 2024 earnings at $0.06 EPS, FY2025 earnings at $0.31 EPS and FY2026 earnings at $0.27 EPS.

Several other brokerages have also recently issued reports on HL. StockNews.com cut Hecla Mining from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. National Bank Financial downgraded Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, TD Securities dropped their target price on shares of Hecla Mining from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Hecla Mining presently has an average rating of “Moderate Buy” and an average price target of $7.94.

Hecla Mining Trading Down 0.4 %

Shares of NYSE:HL traded down $0.02 on Thursday, hitting $4.99. 887,931 shares of the company’s stock were exchanged, compared to its average volume of 9,340,045. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of -124.75 and a beta of 1.92. Hecla Mining has a 12 month low of $3.33 and a 12 month high of $7.68. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.09 and a quick ratio of 0.54. The business’s 50 day simple moving average is $6.05 and its two-hundred day simple moving average is $5.86.

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

Hecla Mining Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were issued a $0.0138 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.06 annualized dividend and a yield of 1.10%. Hecla Mining’s dividend payout ratio (DPR) is presently -125.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HL. Hollencrest Capital Management raised its position in 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 grew its stake in shares of Hecla Mining by 19.2% during the 3rd quarter. KBC Group NV now owns 18,075 shares of the basic materials company’s stock worth $121,000 after purchasing an additional 2,909 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of 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 valued at $1,639,000 after purchasing an additional 2,939 shares in the last quarter. MML Investors Services LLC lifted its stake in shares of Hecla Mining by 28.6% in the 3rd quarter. MML Investors Services LLC now owns 13,229 shares of the basic materials company’s stock valued at $88,000 after purchasing an additional 2,944 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Hecla Mining by 21.7% in 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 institutional investors and hedge funds.

About Hecla Mining

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.