Hecla Mining Upgraded to Buy After Silver Selloff
Hecla Mining (HL) upgraded to Buy from Hold by Seeking Alpha analyst after silver selloff. Analyst plans to initiate a long position in the stock.
HECLA MINING CO/DE/ currently carries an Alpha Score of n/a, giving AlphaScala's model a neutral read on the setup.
Hecla Mining (HL) received an upgrade to Buy from Hold on Seeking Alpha, with the analyst citing the recent selloff in silver as a better entry point. The analyst, who rated the stock a Hold in February, changed their view after the decline.
The analyst's disclosure states they have no current position in HL but may initiate a beneficial long position through a stock purchase or call options over the next 72 hours.
The upgrade follows a drop in silver prices that has weighed on mining stocks. Hecla, a large primary silver producer, is among the names most exposed to the metal's swings.
The analyst's previous Hold rating reflected valuation concerns at higher prices. The selloff, in their view, has pushed the stock into a more attractive range.
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