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Why Hecla Mining Company (NYSE: HL) Stock Should Not Be Discarded By Investors In 2023

In the last trading session, 9.36 million shares of the Hecla Mining Company (NYSE:HL) were traded, and its beta was 2.03. Most recently the company’s…

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This article was originally published by The Marketing Sentinal

In the last trading session, 9.36 million shares of the Hecla Mining Company (NYSE:HL) were traded, and its beta was 2.03. Most recently the company’s share price was $5.62, and it changed around -$0.2 or -3.44% from the last close, which brings the market valuation of the company to $3.29B. HL currently trades at a discount to its 52-week high of $7.38, offering almost -31.32% off that amount. The share price’s 52-week low was $3.41, which indicates that the current value has risen by an impressive 39.32% since then. We note from Hecla Mining Company’s average daily trading volume that its 10-day average is 10.55 million shares, with the 3-month average coming to 8.87 million.

Hecla Mining Company stock received a consensus recommendation rating of a Buy, based on a mean score of 2.10. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended HL as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. Hecla Mining Company is expected to report earnings per share of $0 for the current quarter.

Hecla Mining Company (NYSE:HL) trade information

Instantly HL has showed a red trend with a performance of -3.44% at the end of last trading. The rise to weekly highs of 5.87 on Tuesday, 03/21/23 increased the stock’s daily price by 4.26%. We can see from the shorts that 20.38 million shares have been sold at a short interest cover period of 2.27 day(s).

The consensus price target as assigned by Wall Street analysts is $6.42, which translates to bulls needing to increase their stock price by 12.46% from its current value. Analyst projections state that HL is forecast to be at a low of $5.50 and a high of $7.50. In order for the stock price to hit the forecast high, the stock would need to plunge -33.45% from its current level, while the stock would need to crash 2.14% from its current level to reach the projected low.

Hecla Mining Company (HL) estimates and forecasts

Hecla Mining Company share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 35.81 percent over the past six months and at a 80.00% annual growth rate that is well above the industry average of -16.60%. The year-over-year growth rate is expected to be -9.00%, down from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $197.8 million in revenue for the current quarter. 2 analysts expect Hecla Mining Company to make $167.49 million in revenue for the quarter ending Mar 2023. The company’s sales for the same quarters a year ago were $185.08 million and $186.5 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 6.90%. Forecasts for the next quarter put sales growth at -10.20%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 14.50%.

HL Dividends

Hecla Mining Company’s next quarterly earnings report is expected to be released around May 08 and May 12. The annual dividend yield of the stock is 0.41 percent and its annual dividend per share was 0.02. It is important to note, however, that the 0.41% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Hecla Mining Company (NYSE:HL)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 7.21% of Hecla Mining Company shares, and 60.87% of them are in the hands of institutional investors. The stock currently has a share float of 65.60%. Hecla Mining Company stock is held by 406 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Dec 30, 2022, it held 9.11% of the shares, which is about 55.23 million shares worth $307.05 million.

Vanguard Group, Inc. (The), with 8.70% or 52.77 million shares worth $207.89 million as of Sep 29, 2022, holds the second largest percentage of outstanding shares.

VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF were the top two Mutual Funds as of Dec 30, 2022. The former held 31.42 million shares worth $174.71 million, making up 5.18% of all outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held roughly 18.85 million shares worth around $104.8 million, which represents about 3.11% of the total shares outstanding.

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