Earnings reports released Tuesday morning were again overwhelmingly positive, with the vast majority of companies reporting profits that beat consensus estimates.<\/p>\n
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\u00a0will release results.<\/p>\n
We also posted a preview of five companies reporting June quarter results after markets close Wednesday: Electronic Arts, Fastly, Lumen, MGM Resorts and Uber.<\/p>\n
Here are previews of three companies set to report quarterly results before Thursday’s opening bell.\n<\/p>\n
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.<\/p>\n
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%.<\/p>\n
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.<\/p>\n
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%).<\/p>\n