B. Riley Has Strong Outlook for Hecla Mining FY2024 Earnings

Hecla Mining (NYSE:HL) – Equities researchers at B. Riley upped their FY2024 earnings per share estimates for shares of Hecla Mining in a research report issued on Tuesday, December 17th. B. Riley analyst L. Pipes now forecasts that the basic materials company will earn $0.12 per share for the year, up from their prior estimate 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.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of Hecla Mining from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. National Bank Financial lowered shares of Hecla Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, TD Securities decreased their price target on shares of Hecla Mining from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Hecla Mining has an average rating of “Moderate Buy” and an average target price of $7.94.

Hecla Mining Price Performance

HL opened at $5.04 on Thursday. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -126.00 and a beta of 1.92. The company has a current ratio of 1.09, a quick ratio of 0.54 and a debt-to-equity ratio of 0.24. The stock’s 50-day moving average price is $6.01 and its 200 day moving average price is $5.85. Hecla Mining has a 12-month low of $3.33 and a 12-month high of $7.68.

Hecla Mining (NYSE:HL) last released 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 positive return on equity of 0.75% and a negative net margin of 2.27%. The company 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 firm earned ($0.01) earnings per share. The firm’s revenue was up 34.7% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HL. Hollencrest Capital Management lifted its position in shares of Hecla Mining by 1.0% during the 3rd quarter. Hollencrest Capital Management now owns 248,727 shares of the basic materials company’s stock worth $1,659,000 after purchasing an additional 2,367 shares during the last quarter. KBC Group NV raised its stake in Hecla Mining by 19.2% in the third quarter. KBC Group NV now owns 18,075 shares of the basic materials company’s stock valued at $121,000 after buying an additional 2,909 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Hecla Mining by 0.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 338,040 shares of the basic materials company’s stock worth $1,639,000 after buying an additional 2,939 shares during the last quarter. MML Investors Services LLC boosted its position in shares of Hecla Mining by 28.6% during the 3rd quarter. MML Investors Services LLC now owns 13,229 shares of the basic materials company’s stock worth $88,000 after acquiring an additional 2,944 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Hecla Mining by 21.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,714 shares of the basic materials company’s stock valued at $111,000 after acquiring an additional 2,982 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Hecla Mining Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Thursday, November 21st were paid a $0.0138 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.06 dividend on an annualized basis and a yield of 1.09%. Hecla Mining’s dividend payout ratio is currently -125.00%.

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.