#7 - Hecla Mining (NYSE:HL)
Closing out our list of precious metals stocks is Hecla Mining (NYSE:HL). This company is a pure-play on silver mining. In fact, the company produces approximately one-third of all silver mined in the United States. One of the company’s primary assets is the Greens Creek mine in Alaska. This is one of the largest silver mines in the world and helps the company generate significant cash flow.
Hecla Mining draws a surprising amount of interest from the analyst community. The consensus of six analysts is for HL stock to climb 22.58% above its current price. It should encourage investors that even after a disappointing earnings report in November, HL stock has climbed 7%.
That is likely because the company forecasts that production at one of its other assets, the Lucky Friday mine will double between 2020 and 2023. And with the price of silver rallying since the end of September, this should boost the company’s top and bottom lines in subsequent quarters.
About Hecla Mining
Hecla Mining Company, together with its subsidiaries, provides precious and base metal properties in the United States, Canada, Japan, Korea, and China. The company mines for silver, gold, lead, and zinc concentrates, as well as carbon material containing silver and gold for custom smelters, metal traders, and third-party processors; and doré containing silver and gold.
Read More - Current Price
- $5.52
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 4 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $7.94 (43.8% Upside)
There is a sentiment among many retail investors that precious metals are yesterday’s news. In their minds, the real hedge against inflation is cryptocurrency. They may be right. We’re inclined to believe both will be quite effective. Let’s just agree that a growing cryptocurrency market doesn’t change the value of precious metals. They are a proven store of value against inflation.
A “typical” precious metals portfolio will give investors exposure to gold, silver, platinum, and palladium. The latter two are used in many of the sectors that will drive the economy forward. And that’s what we’ve tried to provide in this presentation. And it’s often theorized that one or more precious metals is always in a bull market.
Investors who don’t want to invest in a single metal or any single company (like the ones in this presentation) may consider one of the many precious metals exchange-traded funds that focus on precious metals. If you choose this alternative, you may have to pick one or more funds as many funds are specific to a particular metal.
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