In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Hecla Mining Company (HL), with a price target of $3.75. The company’s shares closed last Monday at $1.45, close to its 52-week low of $1.21.
Ihle observed:
“We reiterate our Buy recommendation while increasing our price target to $3.75 per share from $3.00 per share. Our increased PT is a result of the aforementioned price deck revision. 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 4-star analyst with an average return of 4.7% and a 48.0% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
Hecla Mining Company has an analyst consensus of Moderate Sell, with a price target consensus of $2.08.
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The company has a one-year high of $3.12 and a one-year low of $1.21. Currently, Hecla Mining Company has an average volume of 8.67M.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HL in relation to earlier this year.
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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.
