10 Firms Battered by Poor Earnings, Dismal Outlook

2. Hecla Mining Company (NYSE:HL)

Hecla Mining declined by 17 percent on Friday to end at $4.54 apiece as investor sentiment was dampened by an investment firm’s rating downgrade on its stock.

In its market note, BMO Capital lowered its rating for Hecla Mining Company (NYSE:HL) to Market Perform from Outperform previously, while reducing its price target to $5.50 from $7.5.

According to BMO Capital, the adjustment was based on the company’s persistent challenges in ramping up operations at Keno Hill, coupled with uncertainties over its Casa Berardi site.

Meanwhile, Hecla Mining Company (NYSE:HL) officially entered the oversold territory, having hit an RSI index of 28.8.

In the first quarter of the year, Hecla Mining Company (NYSE:HL) swung to a net income of $28.7 million from a $5.89 million net loss in the same period a year earlier.

Sales amounted to $261 million, higher by 38 percent than the $189 million registered in the same period last year.