On June 9, Hecla Mining declined 5.2% in regular trading, trading at $13.98/share, with trading volume of $125 million. The decline reflects continued pressure from a broad silver sector selloff compounded by lingering effects of a prior investment bank target price reduction.
The silver mining sector experienced widespread weakness, with peers Silvercorp Metals down 8.26%, First Majestic Silver down 7.51%, Aya Gold & Silver down 7.14%, Endeavour Silver down 6.65%, and New Pacific Metals down 5.60%, indicating systemic sector-wide selling pressure on precious metals miners.
Adding to the headwinds, Royal Bank of Canada previously cut Hecla Mining's target price from $28 to $24, a reduction of approximately 14%, while maintaining its outperform rating. The target revision reflected a recalibration of near-term earnings expectations for the precious metals mining industry. Hecla Mining reported EPS of $0.24 in its most recent quarterly results on May 5.
Hecla Mining, incorporated in 1891 and headquartered in Coeur d'Alene, Idaho, is a precious and base metals mining company operating silver, gold, lead, and zinc mines across the United States, Canada, and Mexico.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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