Hecla Mining (NYSE:HL) Rating Lowered to Hold at TD Securities

Hecla Mining (NYSE:HL) was downgraded by analysts at TD Securities from a “buy” rating to a “hold” rating in a research note issued on Tuesday,BayStreet.CA reports. They presently have a $5.50 price objective on the basic materials company’s stock, down from their previous price objective of $6.50. TD Securities’ price target points to a potential upside of 2.57% from the stock’s previous close.

A number of other equities research analysts have also issued reports on HL. HC Wainwright reiterated a “buy” rating and issued a $11.50 price target on shares of Hecla Mining in a research note on Friday, February 14th. Roth Mkm cut their target price on Hecla Mining from $6.60 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Finally, StockNews.com raised Hecla Mining from a “sell” rating to a “hold” rating in a research note on Monday, February 17th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Hecla Mining currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.75.

Hecla Mining Stock Performance

HL stock traded up $0.21 during midday trading on Tuesday, reaching $5.36. 21,666,144 shares of the company’s stock traded hands, compared to its average volume of 11,427,912. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 0.25. The stock has a market cap of $3.39 billion, a P/E ratio of 107.32 and a beta of 1.94. Hecla Mining has a 52-week low of $4.04 and a 52-week high of $7.68. The stock’s 50-day moving average is $5.46 and its 200 day moving average is $5.85.

Hecla Mining (NYSE:HL) last released its quarterly earnings results on Thursday, February 13th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $249.66 million for the quarter, compared to the consensus estimate of $229.21 million. Hecla Mining had a net margin of 3.85% and a return on equity of 3.10%. As a group, analysts anticipate that Hecla Mining will post 0.21 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Russell Douglas Lawlar sold 16,333 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $5.18, for a total value of $84,604.94. Following the completion of the transaction, the chief financial officer now owns 297,983 shares of the company’s stock, valued at approximately $1,543,551.94. This trade represents a 5.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Michael L. Clary sold 32,387 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $5.18, for a total value of $167,764.66. Following the sale, the chief accounting officer now directly owns 246,440 shares in the company, valued at $1,276,559.20. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,915 shares of company stock valued at $300,000 in the last quarter. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hecla Mining

A number of institutional investors and hedge funds have recently modified their holdings of HL. Tidal Investments LLC raised its position in Hecla Mining by 100.5% in the 4th quarter. Tidal Investments LLC now owns 15,885,647 shares of the basic materials company’s stock worth $77,999,000 after purchasing an additional 7,960,826 shares during the period. Wealthfront Advisers LLC bought a new position in Hecla Mining in the 4th quarter valued at $18,441,000. Marshall Wace LLP lifted its position in shares of Hecla Mining by 182.4% during the fourth quarter. Marshall Wace LLP now owns 5,006,115 shares of the basic materials company’s stock worth $24,580,000 after purchasing an additional 3,233,116 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Hecla Mining during the third quarter valued at $14,623,000. Finally, Jefferies Financial Group Inc. boosted its stake in shares of Hecla Mining by 1,331.9% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,997,790 shares of the basic materials company’s stock valued at $9,809,000 after purchasing an additional 1,858,271 shares during the period. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.