Wall Street brokerages expect that Hecla Mining (NYSE:HL) will announce sales of $189.25 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Hecla Mining’s earnings, with the highest sales estimate coming in at $189.29 million and the lowest estimate coming in at $189.21 million. Hecla Mining reported sales of $136.52 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 38.6%. The business is expected to announce its next quarterly earnings results on Thursday, February 20th.
On average, analysts expect that Hecla Mining will report full year sales of $710.54 million for the current financial year, with estimates ranging from $637.61 million to $823.90 million. For the next financial year, analysts expect that the company will post sales of $789.48 million, with estimates ranging from $733.24 million to $881.11 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Hecla Mining.
Hecla Mining (NYSE:HL) last issued its earnings results on Thursday, November 7th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $161.50 million for the quarter, compared to analysts’ expectations of $179.40 million. Hecla Mining had a negative return on equity of 5.71% and a negative net margin of 19.71%. Hecla Mining’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share.
Several brokerages have commented on HL. B. Riley decreased their target price on shares of Hecla Mining from $2.30 to $1.80 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Canaccord Genuity downgraded Hecla Mining from a “hold” rating to a “sell” rating and set a $2.00 price target for the company. in a research note on Wednesday, August 7th. Cantor Fitzgerald raised Hecla Mining from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. BMO Capital Markets raised Hecla Mining from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $1.60 to $2.20 in a research note on Thursday, November 7th. Finally, Zacks Investment Research downgraded Hecla Mining from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Five analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Hecla Mining currently has an average rating of “Hold” and an average price target of $2.10.
Shares of NYSE HL traded up $0.01 during trading on Wednesday, hitting $2.43. 8,836,388 shares of the company were exchanged, compared to its average volume of 7,312,414. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -22.09 and a beta of 0.97. Hecla Mining has a 1 year low of $1.21 and a 1 year high of $3.07. The firm’s fifty day moving average price is $2.06 and its 200 day moving average price is $1.81. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.23 and a quick ratio of 0.55.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.002 per share. This represents a $0.01 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Thursday, November 21st. Hecla Mining’s dividend payout ratio (DPR) is presently -9.09%.
In other news, Director Catherine J. Boggs purchased 40,540 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was acquired at an average price of $1.50 per share, with a total value of $60,810.00. Following the purchase, the director now directly owns 40,540 shares of the company’s stock, valued at approximately $60,810. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in HL. Commerzbank Aktiengesellschaft FI raised its stake in Hecla Mining by 81.4% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 7,226,329 shares of the basic materials company’s stock valued at $13,007,000 after purchasing an additional 3,242,092 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in Hecla Mining in the 2nd quarter valued at about $3,389,000. BlackRock Inc. grew its holdings in Hecla Mining by 4.7% in the 2nd quarter. BlackRock Inc. now owns 34,285,217 shares of the basic materials company’s stock valued at $61,715,000 after buying an additional 1,533,202 shares during the period. Alps Advisors Inc. grew its holdings in Hecla Mining by 348.8% in the 2nd quarter. Alps Advisors Inc. now owns 1,752,151 shares of the basic materials company’s stock valued at $3,154,000 after buying an additional 1,361,747 shares during the period. Finally, Morgan Stanley grew its holdings in Hecla Mining by 22.0% in the 2nd quarter. Morgan Stanley now owns 6,255,702 shares of the basic materials company’s stock valued at $11,260,000 after buying an additional 1,129,826 shares during the period. 56.38% of the stock is owned by hedge funds and other institutional investors.
About Hecla Mining
Hecla Mining Company, together with its subsidiaries, discovers, acquires, develops, and produces precious and base metal properties worldwide. The company offers lead, zinc, and bulk flotation concentrates to custom smelters and brokers; and unrefined gold and silver bullion bars to precious metals traders.
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