FY2024 Earnings Forecast for Hecla Mining Issued By B. Riley

Hecla Mining (NYSE:HL) – Equities researchers at B. Riley upped their FY2024 earnings per share (EPS) estimates for Hecla Mining in a research note issued to investors on Tuesday, December 17th. B. Riley analyst L. Pipes now anticipates that the basic materials company will post earnings of $0.12 per share for the year, up from their previous forecast of $0.10. The consensus estimate for Hecla Mining’s current full-year earnings is $0.06 per share. B. Riley also issued estimates for Hecla Mining’s Q4 2024 earnings at $0.06 EPS, FY2025 earnings at $0.31 EPS and FY2026 earnings at $0.27 EPS.

A number of other research firms have also weighed in on HL. National Bank Financial lowered Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. TD Securities decreased their price objective on Hecla Mining from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, StockNews.com lowered Hecla Mining from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Hecla Mining currently has a consensus rating of “Moderate Buy” and an average target price of $7.94.

Hecla Mining Stock Performance

HL stock opened at $4.95 on Thursday. Hecla Mining has a 1-year low of $3.33 and a 1-year high of $7.68. The business has a 50-day moving average price of $6.01 and a 200 day moving average price of $5.85. The company has a market capitalization of $3.11 billion, a P/E ratio of -123.75 and a beta of 1.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.09 and a quick ratio of 0.54.

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

Institutional Trading of Hecla Mining

Several large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Hecla Mining in the third quarter worth about $28,000. Innealta Capital LLC purchased a new stake in Hecla Mining in the 2nd quarter worth approximately $41,000. Sound Income Strategies LLC acquired a new stake in shares of Hecla Mining during the 3rd quarter worth approximately $49,000. Ballentine Partners LLC purchased a new position in shares of Hecla Mining during the 2nd quarter valued at approximately $54,000. Finally, SPC Financial Inc. acquired a new position in shares of Hecla Mining in the 2nd quarter valued at $67,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

Hecla Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were issued a $0.0138 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, November 21st. Hecla Mining’s dividend payout ratio is presently -125.00%.

About Hecla Mining

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.