Investing

Earnings Previews: Hecla Mining, Moderna, ViacomCBS

Earnings reports released Tuesday morning were again overwhelmingly positive, with the vast majority of companies reporting profits that beat consensus estimates.

After markets close on Tuesday, four firms we covered in an earlier preview (Activision-Blizzard, Lyft, Occidental Petroleum and Skillz) are due to report results. Before markets open on Wednesday, CVS Health, General Motors, Marathon Petroleum and Royal Caribbean will release results.

We also posted a preview of five companies reporting June quarter results after markets close Wednesday: Electronic Arts, Fastly, Lumen, MGM Resorts and Uber.

Here are previews of three companies set to report quarterly results before Thursday’s opening bell.

Hecla Mining

Idaho-based Hecla Mining Co. (NYSE: HL) is the largest U.S. producer of silver. Over the past 12 months, the stock price is up more than 20%. It spiked to an 11-year high in early June but has pulled back significantly as silver prices have come down. Those prices have dropped by about $4.00 per ounce or about 23% since their peak in February. Second-quarter silver production rose by 5% in the first half of 2021 to 6.98 million ounces. Gold production dipped 6% to 111,143 ounces.

Of 10 surveyed brokerages covering the stock, there are six Hold ratings and four Buy or Strong Buy ratings. At the recent trading price of around $6.60, the upside potential to the median price target is 21%. At the high price target of $11, the upside potential is 67%.

Second-quarter revenue is forecast to rise 5% sequentially and 33% year over year to $221.49 million. Adjusted earnings per share (EPS) are forecast at $0.05, down a penny sequentially and up by four cents year over year. For the full year, EPS are forecast to rise by 410% to $0.20 and revenue is expected to increase by nearly 25% to $862.37 million.

Hecla stock trades at a multiple of 32.8 times expected 2021 EPS, 22.7 times estimated 2022 earnings and 23.5 times estimated 2023 earnings. The stock’s 52-week range is $4.32 to $9.44, and the company pays an annual dividend of $0.04 per share (yield of 0.67%).

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