H.C. Wainwright Reiterates Their Buy Rating on Hecla Mining Company (HL)


H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Hecla Mining Company (HL) today and set a price target of $2.75. The company’s shares closed yesterday at $1.67.

Ihle commented:

“We reiterate our Buy recommendation while lowering our price target to $2.75 per share from $3.00 per share. Our reduced PT was the result of updated financials amid a greater share count. Our valuation remains based on an equally weighted composite of our NAV estimate and our 2020E CFPS. Our NAV remains predicated on a DCF of Hecla’s operating assets, utilizing a 7.0% discount rate, which is in-line with similar assets in equal geopolitical climates. We also maintain our previous NAV multiple of 1.25x in addition to our unchanged 13x CFPS multiple.”

According to TipRanks.com, Ihle is a 5-star analyst with an average return of 7.1% and a 53.1% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Americas Silver Corporation, Golden Star Resources Ltd, and Northern Dynasty Minerals.

Hecla Mining Company has an analyst consensus of Moderate Sell, with a price target consensus of $1.81.

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Based on Hecla Mining Company’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $25.53 million. In comparison, last year the company had a net profit of $12.07 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, Nevada Operations and San Sebastian.

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