TD Securities Cuts Hecla Mining (NYSE:HL) Price Target to $8.00

Hecla Mining (NYSE:HL) had its price objective decreased by TD Securities from $8.50 to $8.00 in a report issued on Friday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the basic materials company’s stock.

Several other research firms 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. HC Wainwright reissued a “buy” rating and issued a $10.25 target price on shares of Hecla Mining in a research note on Thursday, August 8th. Finally, Roth Mkm cut their price objective on Hecla Mining from $6.25 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Hecla Mining currently has an average rating of “Moderate Buy” and an average target price of $7.94.

Hecla Mining Stock Down 2.8 %

Shares of NYSE:HL opened at $5.57 on Friday. The stock’s 50-day moving average price is $6.52 and its 200-day moving average price is $5.84. Hecla Mining has a 12-month low of $3.33 and a 12-month high of $7.68. The stock has a market capitalization of $3.51 billion, a P/E ratio of -139.25 and a beta of 2.00. The company has a current ratio of 1.29, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29.

Hecla Mining (NYSE:HL) last posted its earnings results 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 company had revenue of $245.09 million for the quarter, compared to analysts’ expectations of $232.03 million. Hecla Mining had a positive return on equity of 0.76% 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 period last year, the firm earned ($0.01) earnings per share. On average, equities analysts anticipate that Hecla Mining will post 0.07 earnings per share for the current year.

Hecla Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.0138 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.06 annualized dividend and a yield of 0.99%. Hecla Mining’s payout ratio is -125.00%.

Insider Buying and Selling at Hecla Mining

In other news, VP Kurt Allen sold 108,612 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $6.77, for a total value of $735,303.24. Following the sale, the vice president now directly owns 173,700 shares of the company’s stock, valued at $1,175,949. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Trading of Hecla Mining

A number of hedge funds have recently made changes to their positions in HL. Landscape Capital Management L.L.C. bought a new position in Hecla Mining in the 3rd quarter valued at approximately $430,000. Intech Investment Management LLC bought a new position in Hecla Mining in the 3rd quarter valued at approximately $1,210,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Hecla Mining by 83.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 858,091 shares of the basic materials company’s stock valued at $5,723,000 after buying an additional 391,114 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in Hecla Mining during the 3rd quarter valued at $2,373,000. Finally, KBC Group NV raised its stake in Hecla Mining by 19.2% during the 3rd quarter. KBC Group NV now owns 18,075 shares of the basic materials company’s stock valued at $121,000 after buying an additional 2,909 shares during the last quarter. 63.01% of the stock is owned by institutional investors.

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.