Hecla Mining (NYSE:HL) Stock Price Up 11.4%

Shares of Hecla Mining (NYSE:HL) traded up 11.4% during mid-day trading on Wednesday . The company traded as high as $2.00 and last traded at $1.96, 22,612,336 shares were traded during mid-day trading. An increase of 258% from the average session volume of 6,321,390 shares. The stock had previously closed at $1.76.

A number of equities research analysts have issued reports on the company. Bank of America set a $80.00 price target on Canopy Growth and gave the stock a “buy” rating in a research note on Friday, June 7th. BMO Capital Markets raised their price objective on shares of Air Products & Chemicals to $235.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. CIBC lowered their price objective on shares of Stuart Olson from C$5.50 to C$5.00 in a research report on Tuesday, May 14th. Scotiabank upgraded shares of Gibson Energy from an “average” rating to a “buy” rating and set a C$25.00 target price for the company in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. set a €52.00 ($60.47) target price on shares of Vonovia and gave the stock a “buy” rating in a research note on Friday, May 10th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $2.99.

The firm has a market capitalization of $846.04 million, a PE ratio of -17.82 and a beta of 0.98. The company has a quick ratio of 0.45, a current ratio of 0.98 and a debt-to-equity ratio of 0.33. The stock’s 50-day moving average is $1.63.

Hecla Mining (NYSE:HL) last posted its quarterly earnings results on Thursday, May 9th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Hecla Mining had a negative net margin of 10.40% and a negative return on equity of 3.74%. The company had revenue of $152.60 million during the quarter, compared to analyst estimates of $150.31 million. During the same period in the prior year, the company earned $0.02 earnings per share. The company’s revenue was up 9.2% on a year-over-year basis. Research analysts predict that Hecla Mining will post -0.11 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in HL. First Trust Advisors LP lifted its holdings in Hecla Mining by 68.5% during the 4th quarter. First Trust Advisors LP now owns 596,157 shares of the basic materials company’s stock worth $1,407,000 after buying an additional 242,251 shares in the last quarter. BlackRock Inc. grew its position in shares of Hecla Mining by 0.9% during the fourth quarter. BlackRock Inc. now owns 32,792,082 shares of the basic materials company’s stock worth $77,389,000 after acquiring an additional 278,529 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Hecla Mining by 7.5% during the fourth quarter. Bank of New York Mellon Corp now owns 5,975,987 shares of the basic materials company’s stock worth $14,102,000 after acquiring an additional 419,025 shares during the last quarter. Raymond James & Associates grew its position in shares of Hecla Mining by 14.1% during the fourth quarter. Raymond James & Associates now owns 38,519 shares of the basic materials company’s stock worth $91,000 after acquiring an additional 4,762 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Hecla Mining by 0.5% during the fourth quarter. Northern Trust Corp now owns 5,671,730 shares of the basic materials company’s stock worth $13,386,000 after acquiring an additional 28,179 shares during the last quarter. Institutional investors and hedge funds own 59.42% of the company’s stock.

About Hecla Mining (NYSE:HL)

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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