Stocks of Hecla Mining Company (HL) are poised to climb above their peers

Hecla Mining Company (NYSE: HL) stock jumped 0.32% on Tuesday to $6.36 against a previous-day closing price of $6.34. With 9.89 million shares changed hands, the volume of the stock remained heavier than its average volume of 9.07 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $6.41 whereas the lowest price it dropped to was $6.14. The 52-week range on HL shows that it touched its highest point at $7.66 and its lowest point at $3.41 during that stretch. It currently has a 1-year price target of $6.22. With its current market cap of 3.81 billion, HL has annualized dividend of $0.02 while the current yield stands at 0.36%. Beta for the stock currently stands at 2.01.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HL was up-trending over the past week, with a rise of 5.30%, but this was up by 13.57% over a month. Three-month performance surged to 32.78% while six-month performance rose 56.65%. The stock gained 19.37% in the past year, while it has gained 14.39% so far this year. A look at the trailing 12-month EPS for HL yields -0.04 with Next year EPS estimates of 0.06. For the next quarter, that number is 0.01. This implies an EPS growth rate of 435.70% for this year and 88.24% for next year.

Float and Shares Shorts:

At present, 606.27 million HL shares are outstanding with a float of 562.56 million shares on hand for trading. On Oct 13, 2022, short shares totaled 17.7 million, which was 2.97% higher than short shares on Sep 14, 2022. In addition to Mr. Phillips S. Baker Jr. as the firm’s Pres, CEO & Director, Mr. Russell D. Lawlar serves as its Sr. VP & CFO.

Institutional Ownership:

Through their ownership of 63.38% of HL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.20% of HL, in contrast to 2.47% held by mutual funds. Shares owned by individuals account for 12.65%. As the largest shareholder in HL with 8.56% of the stake, The Vanguard Group, Inc. holds 51,878,325 shares worth 51,878,325. A second-largest stockholder of HL, Van Eck Associates Corp., holds 50,930,908 shares, controlling over 8.40% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in HL, holding 37,568,074 shares or 6.20% stake. With a 5.20% stake in HL, the VanEck Gold Miners ETF is the largest stakeholder. A total of 31,521,541 shares are owned by the mutual fund manager. The VanEck Junior Gold Miners ETF, which owns about 3.11% of HL stock, is the second-largest Mutual Fund holder. It holds 18,849,171 shares valued at 104.8 million. Vanguard Total Stock Market Index holds 2.90% of the stake in HL, owning 17,560,999 shares worth 97.64 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HL since 10 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With HL analysts setting a high price target of $7.25 and a low target of $5.00, the average target price over the next 12 months is $6.23. Based on these targets, HL could surge 13.99% to reach the target high and fall by -21.38% to reach the target low. Reaching the average price target will result in a decline of -2.04% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. HL will report FY 2023 earnings on 01/10/2024. Analysts have provided yearly estimates in a range of $0.18 being high and -$0.03 being low. For HL, this leads to a yearly average estimate of $0.10. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Hecla Mining Company surprised analysts by $0.01 when it reported -$0.03 EPS against a consensus estimate of -$0.04. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is $0.04 and the low estimate is -$0.02. The average estimate for the next quarter is thus $0.01.

Summary of Insider Activity:

Insiders traded HL stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 11 over the past year. The total number of shares bought during that period was 1,512,812 while 459,174 shares were sold.

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