Hecla Mining Company Stock Tanked 20.8% in November: Here's What You Should Do Now
You'd expect a silver mining stock to move in line with silver prices, but that's not always the case. So while shares of Coeur Mining (NYSE: CDE) were flat last month, pretty much like silver, Hecla Mining (NYSE: HL) stock plunged 20.8%, marking one of its worst months so far this year. What should investors in Hecla make of the sharp fall?
Hecla shares took a nosedive right after the silver miner announced its third-quarter numbers on Nov. 7. As you might've guessed, Hecla's numbers were far from encouraging.
Hecla's sales dropped nearly 21% year over year, largely because of a long-drawn labor strike at one of its key mines, Lucky Friday, that hit production hard. In contrast, it was higher production volumes that helped rival Coeur Mining grow its revenue by 1% in Q3 despite pressure on metal prices. It's also worth noting that Hecla currently has only three mines in operation -- Greens Creek, Lucky Friday, and San Sebastian -- which places it at a disadvantage to rival Coeur which has five operating mines, including high-potential ones like the Palmarejo in Mexico.
Source: Fool.com
Hecla Mining Corp. Stock
With 17 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 6 € shows a slightly positive potential of 13.46% compared to the current price of 5.29 € for Hecla Mining Corp..
