FY2024 EPS Estimates for Hecla Mining Cut by Roth Capital

Hecla Mining (NYSE:HL) – Analysts at Roth Capital cut their FY2024 earnings estimates for shares of Hecla Mining in a note issued to investors on Monday, November 11th. Roth Capital analyst J. Reagor now forecasts that the basic materials company will post earnings of $0.06 per share for the year, down from their previous forecast of $0.08. The consensus estimate for Hecla Mining’s current full-year earnings is $0.06 per share.

A number of other equities research analysts have also recently commented on the company. StockNews.com cut Hecla Mining from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Roth Mkm lowered their price target on Hecla Mining from $6.25 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. TD Securities reduced their price objective on shares of Hecla Mining from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and issued a $10.25 target price on shares of Hecla Mining in a research note on Thursday, August 8th. Finally, National Bank Financial cut shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Hecla Mining has an average rating of “Moderate Buy” and a consensus price target of $7.94.

Hecla Mining Stock Performance

Shares of Hecla Mining stock opened at $5.43 on Wednesday. The firm has a fifty day moving average of $6.52 and a two-hundred day moving average of $5.84. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.54 and a current ratio of 1.09. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of -135.75 and a beta of 2.00. Hecla Mining has a 52 week low of $3.33 and a 52 week high of $7.68.

Hecla Mining (NYSE:HL) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $245.09 million for the quarter, compared to analyst estimates of $232.03 million. Hecla Mining had a positive return on equity of 0.75% and a negative net margin of 2.27%. The firm’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) earnings per share.

Hecla Mining Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st will be issued a $0.0138 dividend. This represents a $0.06 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, November 21st. Hecla Mining’s dividend payout ratio (DPR) is presently -125.00%.

Insider Transactions at Hecla Mining

In other news, VP Kurt Allen sold 108,612 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,175,949. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is owned by insiders.

Institutional Trading of Hecla Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Hecla Mining by 2.6% in the first quarter. Vanguard Group Inc. now owns 59,420,114 shares of the basic materials company’s stock valued at $285,811,000 after acquiring an additional 1,506,573 shares during the last quarter. Van ECK Associates Corp lifted its stake in Hecla Mining by 4.3% in the 3rd quarter. Van ECK Associates Corp now owns 54,680,051 shares of the basic materials company’s stock valued at $391,510,000 after purchasing an additional 2,238,559 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Hecla Mining by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 34,644,620 shares of the basic materials company’s stock worth $168,027,000 after purchasing an additional 146,689 shares during the period. Tidal Investments LLC acquired a new position in Hecla Mining during the first quarter worth approximately $42,576,000. Finally, Ninety One UK Ltd raised its stake in Hecla Mining by 17.0% in the second quarter. Ninety One UK Ltd now owns 8,219,231 shares of the basic materials company’s stock valued at $39,863,000 after buying an additional 1,196,515 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

Hecla Mining Company Profile

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.