Analysts fell to the sidelines weighing in on Hecla Mining Company (HL) and Hi-Crush Partners (HCR) with neutral ratings, indicating that the experts are neither bullish nor bearish on the stocks.
Hecla Mining Company (HL)
B.Riley FBR analyst Adam Graf maintained a Hold rating on Hecla Mining Company today and set a price target of $2.35. The company’s shares closed yesterday at $1.67.
Graf wrote:
“Hecla reported a 2Q miss vs. Street, and gave new full-year 2019 production and cost guidance. Management expects a better 2H from operations, leading to sufficient operating cash flows to pay back the $85M draw down on its revolver. Refinancing of the debt continues to be a concern to investors. We have adjusted our operating numbers on 2Q results, new production, and cost guidance, as well as higher gold and silver prices. This has resulted in a modest increase to our 12-month target price from $2.20/sh to $2.35/sh. However, we remain cautious on shares due to tight near-term working capital issues. Maintain Neutral rating.”
According to TipRanks.com, Graf is a 3-star analyst with an average return of 1.6% and a 50.0% success rate. Graf covers the Basic Materials sector, focusing on stocks such as Gold Standard Ventures Corp, Newmont Mining Corporation, and First Majestic Silver.
Currently, the analyst consensus on Hecla Mining Company is a Moderate Sell with an average price target of $1.80.
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Hi-Crush Partners (HCR)
In a report released today, Lucas Pipes from B.Riley FBR maintained a Hold rating on Hi-Crush Partners, with a price target of $3. The company’s shares closed yesterday at $2.08, close to its 52-week low of $1.55.
Pipes noted:
“We are maintaining our Neutral rating and $3 PT following Hi-Crush Inc.’s (HCR) 2Q19 earnings results. For the quarter, HCR reported adjusted EBITDA of $24.1M, exceeding our estimate of $14.1M. The beat is primarily attributable to higher-than-expected frac sand volumes of 2.66M tons which represents a sequential improvement of 10%. The company also experienced material improvements in its newly rebranded “Pronghorn Energy Services” business (i.e. last- mile business) which increased revenue by 34% to $51.1M in 2Q19. 30, HCR had 21 last-mile crews active across all major basins and handled roughly 28% of total sales volumes in 2Q19.”
According to TipRanks.com, Pipes ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -4.1% and a 40.1% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, Novagold Resources Inc New, and Covia Holdings Corporation.
Currently, the analyst consensus on Hi-Crush Partners is a Moderate Sell with an average price target of $2.50.
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