Hecla Mining (HL) Jumps 4.3% on Silver, Gold Rush

Hecla Mining Company (NYSE:HL) is one of the 10 Stocks Investors Are Tracking Now.

Hecla Mining grew its share prices by 4.30 percent on Friday to close at $17.93 apiece, tracking the rally in prices of silver and gold, as investors fled to safer assets amid uncertainties in the ongoing tensions in the Middle East.

During the session, silver and gold both rallied by more than 2 percent, as tensions in the Middle East intensified after Israel announced that it would continue to attack Iran despite the United States’ announcement that it would halt strikes for 10 days.

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Hecla’s Casa Berardi Mine. Photo from Hecla Mining website

This, in turn, sparked an investing appetite in gold and silver producers, including Hecla Mining Company (NYSE:HL), as investors bet that the surging spot prices would support higher profit margins in their next earnings.

In other news, Hecla Mining Company (NYSE:HL), through its wholly owned subsidiary, successfully sold its Casa Berardi Mine in Quebec, Canada.

The transaction involved the receipt of $160 million in cash and approximately 65.8 million Orezone common shares upon closing, on top of $321 million worth of deferred cash payments and contingent cash consideration.

Founded in 1891, Hecla Mining Company (NYSE:HL) is one of the oldest and largest silver mining producers in the world, with operations in the US and Canada.

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