Hecla Mining (NYSE:HL) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Hecla Mining (NYSE:HL) issued its quarterly earnings results on Tuesday. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01), FiscalAI reports. The business had revenue of $333.85 million for the quarter, compared to the consensus estimate of $368.75 million. Hecla Mining had a return on equity of 16.89% and a net margin of 17.41%.Hecla Mining’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 earnings per share.

Hecla Mining Stock Performance

Shares of Hecla Mining stock traded up $1.00 on Tuesday, hitting $15.44. The stock had a trading volume of 33,635,285 shares, compared to its average volume of 24,336,896. Hecla Mining has a twelve month low of $5.86 and a twelve month high of $34.17. The business’s 50 day moving average is $15.61 and its two-hundred day moving average is $19.14. The company has a quick ratio of 4.53, a current ratio of 4.94 and a debt-to-equity ratio of 0.10. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 37.65 and a beta of 1.32.

Institutional Trading of Hecla Mining

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. bought a new stake in shares of Hecla Mining during the 4th quarter valued at $1,557,000. Invesco Ltd. grew its holdings in shares of Hecla Mining by 102.1% during the 4th quarter. Invesco Ltd. now owns 4,327,712 shares of the basic materials company’s stock worth $83,049,000 after purchasing an additional 2,186,601 shares in the last quarter. Axxcess Wealth Management LLC increased its position in shares of Hecla Mining by 9.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 10,905 shares of the basic materials company’s stock worth $209,000 after purchasing an additional 905 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Hecla Mining by 10.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,120 shares of the basic materials company’s stock valued at $405,000 after purchasing an additional 2,075 shares in the last quarter. Finally, Summit Global Investments acquired a new position in Hecla Mining in the fourth quarter valued at about $1,279,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on HL. Wall Street Zen downgraded shares of Hecla Mining from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. HC Wainwright decreased their price objective on shares of Hecla Mining from $36.50 to $26.75 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Scotiabank lowered their price objective on shares of Hecla Mining from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Zacks Research raised shares of Hecla Mining to a “hold” rating in a report on Friday, July 17th. Finally, Weiss Ratings downgraded 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.12.

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.