Hecla Mining Co. (NYSE: HL) Stock Coverage Initiated at Rodman & Renshaw

Analysts at Rodman & Renshaw initiated coverage on Hecla Mining Co. (NYSE: HL) stock, starting the company at Buy and a price target of $9.00. As a means of comparison, a number of other analysts have commented on the stock recently, and the company has earned a consensus one-year price target of $6.06, lower than the opening price of $6.14. Hecla Mining Co.stock has a 52-week high of $7.26.After beginning or initiating coverage, analysts and brokerage firms will subsequently issue periodic updates. Changes in price targets are not unusual.

Meanwhile U.S stocks were up on Tuesday after the long holiday weekend, with the NASDAQ establishing a new record closing high

The Dow Jones Industrial Average DJIA, +0.25% finished up 46.16 points, or 0.3%, at 18,538.12.

The S&P 500 index SPX, +0.30% rose 6.50 points, or 0.3%, to close at 2,186.48.

Meanwhile, the Nasdaq Composite Index COM P, +0.50% rose 26.01 points, or 0.5% to a new closing high of 5,275.91.

The Russell 2000 index RUT, +0.12% briefly touched a 52-week high of 1,254.41 Tuesday, and closed up fractionally just above 1,253.

Stock prices often move to the upside on recommendations and new price targets of professional analysts.

Shares of Hecla Mining Co. (NYSE: HL) opened at $6.14 and traded in a range between, $6.05 and $6.31 yesterday, and last traded at $6.30, which represents a change of $ 0.39 over the previous closing price.

Hecla Mining Co. (NYSE: HL) now has a market cap of 2.43B

The stocks average daily volume is 10,326,600 shares out of a total float 382,393,000 of and some 12,786,177 shares crossed the trading desk yesterday, 69 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.

However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.

By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.

With that in mind Hecla Mining Co. (NYSE: HL) now has a 50-day MA is $6.34 and 200-day MA is $4.50, and it has traded in a 52-week range between $1.45 – 7.26 and today’s last price is -13.22 percent off the 52 week high.

Earnings growth is an important factor toresearch when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of BNB Daily News. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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