Hecla Mining initiated with a Hold at Jefferies

Jefferies initiated coverage of Hecla Mining (HL) with a Hold rating and $22 price target as part of a broader research note on Metals & Mining. Gold and silver have rebounded in recent weeks, though the firm continues to believe the market is underestimating the implications of growing fiscal deficits, elevated debt levels, and currency debasement, the analyst tells investors in a research note. The firm adds it is positive on the company’s high-quality North American asset base, strong balance sheet, and long-term growth pipeline, but its Hold rating is due to valuation, which “reflects much of the operational turnaround”.

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Hecla Mining initiated with a Hold at Jefferies

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