H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Hecla Mining Company (NYSE: HL) today and set a price target of $7. The company’s shares closed yesterday at $3.11, close to its 52-week low of $2.85.
Ihle wrote:
“We maintain our Buy rating, while reducing our PT to $7.00 per share from $7.50 per share. Our reduced PT is primarily due to the lower-than-expected near-term production and cash flow from Nevada. This is as the firm focuses on integrating the assets and implementing several long-term initiatives.”
According to TipRanks.com, Ihle is a 3-star analyst with an average return of 1.5% and a 34.2% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
Currently, the analyst consensus on Hecla Mining Company is a Moderate Buy with an average price target of $5.25.
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Based on Hecla Mining Company’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $12.07 million. In comparison, last year the company had a GAAP net loss of $24.02 million.
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Hecla Mining Co. operates as a silver and gold producer. It produces lead, zinc and bulk concentrates for custom smelters and brokers; and develops unrefined precipitate and bullion bars for precious metals traders. It operates through the following business segments: Greens Creek, Lucky Friday, Casa Berardi, and San Sebastian.
