Kevin O’Halloran, an analyst from BMO Capital, maintained the Buy rating on Hecla Mining Company (HL – Research Report). The associated price target is $6.00.
Kevin O’Halloran has given his Buy rating due to a combination of factors including operational advancements and financial insurance expectations. The recommencement of operations at the Lucky Friday mine aligns with management’s projections for an early Q1 restart, and it is anticipated to quickly return to full production capacity, which is a positive indicator for the company’s future output. Furthermore, Hecla Mining Company’s assurance of receiving insurance payments starting in Q1 bolsters financial prospects, as these are expected to cover the costs of recent infrastructure developments, adding a layer of financial security to the company’s outlook.
Additionally, O’Halloran recognizes Hecla Mining Company as a superior silver producer with a low-cost profile, especially notable at Greens Creek, and its operations are based in highly regarded jurisdictions. The expected progression to full-scale production at Keno Hill, along with the resolution of the temporary production halt at Lucky Friday, supports the analyst’s perspective that these developments will lead to a reevaluation of the Hecla’s stock, potentially driving its shares to trade at higher multiples. This optimistic projection, coupled with a planned mitigation of safety concerns to ensure steady production, underpins the Buy rating assigned to Hecla Mining Company.
See the top stocks recommended by analysts >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Hecla Mining Company (HL) Company Description:
Hecla Mining Co. operates as a silver and gold production company. It produces lead, zinc and bulk concentrates for custom smelters and brokers; and develops unrefined precipitate and bullion bars for precious metals traders. It operates through the following business segments: Greens Creek, Lucky Friday, Casa Berardi, Nevada Operations and San Sebastian. The Greens Creek segment is located on Admiralty Island, Junea, Alaska. The Lucky Friday segment is located in northern Idaho. The Casa Berardi segment is located in the Abitibi region of northwestern Quebec, Canada and is operated by Aurizon. The San Sebastian segment is located in the state of Durango, Mexico and contains underground mines. The company was founded by Amasa B. Campbell, Patsy Clark and John Finch on October 14, 1891 and is headquartered in Coeur d’Alene, ID.
