RE:short squeeze likelyBtw, anyone noticed all the downgrades? Guess why they had to do that :).
All the analysts downgrade, all the institutions buy!
Hecla Mining Company (NYSE:HL) was downgraded byZacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Marketbeat.comreports.
According to Zacks, “Hecla Mining Company is a leading low-cost U.S. silver producer with operating mines in Alaska and Idaho, and is a growing gold producer with an operating mine in Quebec, Canada. The Company also has exploration and pre-development properties in five world-class silver and gold mining districts in the U.S., Canada, and Mexico, and an exploration office and investments in early-stage silver exploration projects in Canada. “
Other institutional investors recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Hecla Mining Company by 4.2% in the fourth quarter. Rhumbline Advisers now owns 544,620 shares of the company’s stock valued at $1,029,000 after buying an additional 21,985 shares during the period. California State Teachers Retirement System boosted its position in shares of Hecla Mining Company by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 686,324 shares of the company’s stock valued at $1,297,000 after buying an additional 12,231 shares during the period. Royce & Associates LLC boosted its position in shares of Hecla Mining Company by 1.1% in the fourth quarter. Royce & Associates LLC now owns 2,917,818 shares of the company’s stock valued at $5,515,000 after buying an additional 31,000 shares during the period. Global X Management CO LLC boosted its position in shares of Hecla Mining Company by 12.7% in the fourth quarter. Global X Management CO LLC now owns 2,985,794 shares of the company’s stock valued at $5,643,000 after buying an additional 337,535 shares during the period. Finally, Voya Investment Management LLC boosted its position in shares of Hecla Mining Company by 43.8% in the fourth quarter. Voya Investment Management LLC now owns 4,619,755 shares of the company’s stock valued at $8,731,000 after buying an additional 1,406,103 shares during the period.
A number of other equities analysts have also recently issued reports on HL. RBC Capital increased their price target on Hecla Mining Company from $2.50 to $3.25 in a report on Tuesday. Scotiabank cut Hecla Mining Company from a “sector perform” rating to an “underperform” rating in a report on Monday. FBR & Co. increased their target price on Hecla Mining Company from $1.50 to $2.00 and gave the stock a “mkt perform” rating in a report on Wednesday, March 2nd. Deutsche Bank cut Hecla Mining Company from a “buy” rating to a “hold” rating and set a $2.90 target price on the stock. in a report on Wednesday, March 23rd. Finally, CIBC cut Hecla Mining Company from a “sector outperform” rating to a “sector perform” rating and increased their target price for the stock from $2.50 to $2.75 in a report on Friday, April 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Hecla Mining Company presently has an average rating of “Hold” and a consensus price target of $2.89.
Shares of Hecla Mining Company (NYSE:HL) opened at 3.08 on Wednesday. The firm’s market cap is $1.17 billion. The stock’s 50 day moving average is $2.77 and its 200 day moving average is $2.22. Hecla Mining Company has a 12 month low of $1.45 and a 12 month high of $3.35.
Hecla Mining Company (NYSE:HL) last posted its quarterly earnings results on Tuesday, February 23rd. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $115.40 million for the quarter, compared to the consensus estimate of $122.12 million. Hecla Mining Company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 earnings per share. Analysts forecast that Hecla Mining Company will post ($0.04) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Friday, March 18th were paid a dividend of $0.0025 per share. This represents a $0.01 annualized dividend and a yield of 0.32%. The ex-dividend date was Wednesday, March 16th.
Hecla Mining Company is engaged in discovering, acquiring, developing and producing silver, gold, lead and zinc. The Company operates in three segments: the Greens Creek, Lucky Friday, and Casa Berardi units. It focuses on its San Sebastian project, which is located in Mexico; North Idaho’s Silver Valley, which is located in Coeur d’Alene Mining District; Greens Creek unit on Alaska’s Admiralty Island, which is located near Juneau; the silver-producing district near Durango, which is located in Mexico; the Abitibi region of north-western Quebec, which is located in Canada, and the Creede district of Southwestern Colorado.