FBR Capital Raises Price Target on Hecla Mining (HL) Following Strong 2Q
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall Street slips on earnings; Apple falls late after results
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- After-Hours Movers 10/25: (OGXI) (AKAM) (VRTX) Higher; (EW) (NUVA) (CMG) (AAPL) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
FBR Capital reiterated a Market Perform rating on Hecla Mining (NYSE: HL), and raised the price target to $6.00 (from $5.00), following the company's 2Q earnings report. Hecla reported a 2Q beat with adjusted EBITDA of $77.8M, versus consensus of $60M, and adjusted EPS of $0.07, versus the Street at $0.05.
Analyst Lucas Pipes commented, "On August 4, Hecla reported a 2Q beat as costs beat our estimates and the company realized higher-than-anticipated silver prices. Hecla maintained its recently updated 2016 production guidance (July) and announced its reduced guidance for cash cost after by-products. Overall, Hecla emphasized its strategic objectives of increasing productivity over cost cutting into 2017. We believe the company will emphasize production in the current environment and after successful cost cutting thus far. Hecla added that it would consider hedging some but not all zinc sales in the current market environment. Following another quarter of impressive costs at San Sebastian, Hecla announced positive exploration results and an increased exploration budget (by $2.5M) at the mine. The company will also study the potential to take San Sebastian underground. Finally, Hecla announced securing the option to extend the rental agreement for the Velardena mill through 2018– end on the successful conversion of resources to reserves. We were encouraged by the company’s results and commentary on San Sebastian but maintain our Market Perform on valuation with an updated $6 price target."
Shares of Hecla Mining closed at $6.78 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Raises Price Target on II-VI, Inc. (IIVI) Following 1Q Beat
- Swift Transportation (SWFT) PT Bumped to $24 at Stifel Following Solid Q3
- UBS Raises Price Target on Greenhill & Co. (GHL) to $17; Reiterates Sell
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!