Scotiabank Has Lowered Expectations for Hecla Mining (NYSE:HL) Stock Price

Hecla Mining (NYSE:HL) had its price target lowered by Scotiabank from $25.00 to $21.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s target price would indicate a potential upside of 35.01% from the company’s current price.

A number of other equities analysts also recently commented on the company. HC Wainwright dropped their price objective on Hecla Mining from $36.50 to $26.75 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Canaccord Genuity Group upgraded Hecla Mining from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, April 29th. Wall Street Zen cut shares of Hecla Mining from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings lowered shares of Hecla Mining from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, June 5th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Hecla Mining currently has a consensus rating of “Hold” and an average target price of $24.12.

Hecla Mining Price Performance

Shares of NYSE HL traded up $0.30 during trading on Tuesday, hitting $15.55. The company had a trading volume of 19,127,266 shares, compared to its average volume of 22,011,805. The business’s 50-day moving average is $16.62 and its 200 day moving average is $19.76. The company has a market cap of $10.43 billion, a P/E ratio of 37.92 and a beta of 1.29. Hecla Mining has a 52 week low of $5.62 and a 52 week high of $34.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.53 and a current ratio of 4.94.

Hecla Mining (NYSE:HL) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The business had revenue of $411.43 million for the quarter, compared to analysts’ expectations of $407.63 million. Hecla Mining had a net margin of 17.41% and a return on equity of 16.89%. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 EPS.

Hedge Funds Weigh In On Hecla Mining

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in Hecla Mining by 20.9% during the first quarter. Goldman Sachs Group Inc. now owns 4,285,345 shares of the basic materials company’s stock worth $23,827,000 after acquiring an additional 739,360 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Hecla Mining by 24.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,959,276 shares of the basic materials company’s stock valued at $10,894,000 after acquiring an additional 380,448 shares during the period. Cetera Investment Advisers increased its position in Hecla Mining by 10.9% in the second quarter. Cetera Investment Advisers now owns 65,536 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 6,450 shares during the period. Prudential Financial Inc. raised its holdings in Hecla Mining by 71.6% during the 2nd quarter. Prudential Financial Inc. now owns 78,395 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 32,714 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Hecla Mining by 1.8% during the second quarter. Russell Investments Group Ltd. now owns 153,867 shares of the basic materials company’s stock worth $922,000 after buying an additional 2,793 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

About Hecla Mining

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.