Hecla Mining (NYSE:HL – Free Report) – Equity research analysts at National Bank Financial have released their earnings per share estimates for Hecla Mining for 2023 in a research report provided to clients and investors on Tuesday, June 27. National Bank Financial Analyst M. Parkin expects the basic materials company to post earnings of $0.15 per share this year. National Bank Financial currently has an “Outperform” rating and a $7.50 price target for the stock. The consensus estimate for Hecla Mining’s current annual earnings is $0.06 per share. National Bank Financial also issued estimates for Hecla Mining’s earnings for FY2024 at $0.24 EPS.
Hecla Mining (NYSE:HL – Free Report) last reported its quarterly results on Wednesday, May 10. The basic materials company reported earnings of $0.01 per share for the quarter, beating analyst consensus estimates of $0.01. The company had revenue of $199.50 million during the quarter, compared to analyst estimates of $198.42 million. Hecla Mining had a positive return on equity of 1.52% and a negative net margin of 6.10%.
Several other equity analysts have also weighed in on HL. HC Wainwright raised their target price on Hecla Mining from $7.00 to $8.25 and gave the company a Buy rating in a research note on Friday, April 14. 58.com reaffirmed a “downgrade” rating on shares of Hecla Mining in a research report on Friday, May 12. Roth Mkm downgraded Hecla Mining from a “buy” rating to a “neutral” rating and raised their price target for the company from $5.50 to $6.25 in a research report on Friday, April 14. National Bankshares set a $7.50 price target on Hecla Mining and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Cantor Fitzgerald downgraded Hecla Mining’s stock from a “buy” rating to a “hold” rating in a research note on Friday, May 12. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given the stock a buy rating. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.47.
Performance of Hecla mining stocks
HL shares opened Friday at $5.12. Hecla Mining has a 12-month low of $3.41 and a 12-month high of $7.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.48 and a quick ratio of 0.97. The company’s 50-day moving average is $5.50 and its 200-day moving average is $5.70.
Institutional investors weigh in on Hecla Mining
A number of major investors have recently increased or decreased their holdings in the company. State Street Corp increased its stake in shares of Hecla Mining by 23.3% during the first quarter. State Street Corp. now owns 31,925,189 shares of the basic materials company stock worth $209,748,000 after purchasing an additional 6,033,244 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Hecla Mining by 10.3% in the first quarter. Van ECK Associates Corp. now owns 60,912,197 shares of basic materials company stock valued at $385,574,000 after acquiring an additional 5,686,975 shares during the period. Goldman Sachs Group Inc. increased its stake in Hecla Mining by 325.3% in the first quarter. Goldman Sachs Group Inc. now owns 6,801,009 shares of the company’s basic materials stock valued at $44,682,000 after purchasing an additional 5,202,053 shares during the period. Driehaus Capital Management LLC acquired a new $26,623,000 position in Hecla Mining in the fourth quarter. Finally, Ninety One UK Ltd increased its position in Hecla Mining by 161.8% during the first quarter. Ninety One UK Ltd now owns 5,204,891 shares of the basic materials company stock valued at $32,947,000 after acquiring a further 3,216,959 shares during the period. Institutional investors own 59.30% of the company’s shares.
Hecla Mining cuts dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 9. Shareholders with a record Monday, May 22, received a dividend of $0.0063. The ex-dividend date of this dividend was Friday, May 19. This represents an annualized dividend of $0.03 and a dividend yield of 0.49%. The payout ratio of Hecla Mining is -33.33%.
About Hecla Mining
Hecla Mining Company, along with its subsidiaries, supplies properties of precious and base metals in the United States and internationally. The company mines silver, gold, lead and zinc concentrates, as well as carbon material containing silver and gold for sale to custom smelters, metal merchants and third party processors; and dore with silver and gold.
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