Hecla Mining (NYSE:HL) Cut to “Hold” at Canaccord Genuity Group

Hecla Mining (NYSE:HL) was downgraded by research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other equities research analysts also recently issued research reports about the company. HC Wainwright increased their price objective on Hecla Mining from $12.50 to $16.50 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Scotiabank started coverage on Hecla Mining in a report on Thursday, November 13th. They set a “sector perform” rating and a $15.00 price objective on the stock. Wall Street Zen raised Hecla Mining from a “hold” rating to a “buy” rating in a research note on Sunday, November 2nd. Roth Mkm set a $8.75 price target on shares of Hecla Mining and gave the company a “sell” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Hecla Mining in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.75.

Hecla Mining Stock Performance

NYSE HL traded up $0.27 on Friday, hitting $31.56. 15,326,570 shares of the stock traded hands, compared to its average volume of 25,071,500. The firm has a market capitalization of $21.15 billion, a price-to-earnings ratio of 101.82 and a beta of 1.28. The business’s fifty day moving average is $19.49 and its two-hundred day moving average is $13.21. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.51 and a current ratio of 2.15. Hecla Mining has a 12 month low of $4.46 and a 12 month high of $32.04.

Hecla Mining (NYSE:HL) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Hecla Mining had a net margin of 16.35% and a return on equity of 7.87%. The company had revenue of $409.54 million for the quarter, compared to analysts’ expectations of $315.60 million. During the same period in the prior year, the company posted $0.03 EPS. Hecla Mining’s revenue was up 67.1% compared to the same quarter last year. As a group, equities analysts anticipate that Hecla Mining will post 0.21 EPS for the current fiscal year.

Insider Activity

In related news, VP David C. Sienko sold 207,553 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $19.42, for a total transaction of $4,030,679.26. Following the completion of the sale, the vice president owned 906,370 shares of the company’s stock, valued at $17,601,705.40. This trade represents a 18.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kurt Allen sold 52,219 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $21.91, for a total value of $1,144,118.29. Following the sale, the vice president owned 216,641 shares in the company, valued at approximately $4,746,604.31. This represents a 19.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 426,679 shares of company stock worth $7,678,773. Insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Choreo LLC lifted its stake in shares of Hecla Mining by 150.1% during the 4th quarter. Choreo LLC now owns 51,206 shares of the basic materials company’s stock valued at $998,000 after buying an additional 30,731 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Hecla Mining during the fourth quarter worth $3,815,000. V Square Quantitative Management LLC purchased a new position in Hecla Mining during the fourth quarter valued at $322,000. MH & Associates Securities Management Corp ADV purchased a new stake in Hecla Mining in the 4th quarter worth $887,000. Finally, Stone House Investment Management LLC lifted its position in shares of Hecla Mining by 449.0% in the fourth quarter. Stone House Investment Management LLC now owns 2,811 shares of the basic materials company’s stock worth $54,000 after buying an additional 2,299 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Hecla Mining Company Profile

Hecla Mining Company, founded in 1891 and headquartered in Coeur d’Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d’Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.

The company’s principal operations are located in North America and Latin America.