Will Hecla Mining (HL) Gain on Rising Earnings Estimates?

Hecla Mining (HL) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving.Analysts' growing optimism on the earnings prospects of this precious metals company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- has this insight at its core.The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.For Hecla Mining, there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.Current-Quarter Estimate RevisionsThe earnings estimate of $0.03 per share for the current quarter represents a change of +400% from the number reported a year ago.The Zacks Consensus Estimate for Hecla Mining has increased 300% over the last 30 days, as one estimate has gone higher compared to no negative revisions.Current-Year Estimate RevisionsFor the full year, the company is expected to earn $0.06 per share, representing a year-over-year change of +700%.In terms of estimate revisions, the trend for the current year also appears quite encouraging for Hecla Mining. Over the past month, one estimate has moved higher compared to no negative revisions, helping the consensus estimate increase 46.67%.Favorable Zacks RankThe promising estimate revisions have helped Hecla Mining earn a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.Bottom LineInvestors have been betting on Hecla Mining because of its solid estimate revisions, as evident from the stock's 16% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Hecla Mining Company (HL): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks