As the largest primary silver producer in the US it is clear that Hecla Mining should benefit greatly from a major new silver bullmarket and happily, as we have seen, that is what we can reasonably expect to see going forward.
It should thus come as no surprise to see on its 6-month chart below that Hecla last month staged a clear breakout from a fine Head-and-Shoulders bottom pattern. Having missed the breakout it was incumbent on us to wait until the first reaction back to support near to the top of the base pattern in order to buy it at a good price. That we have now seen with the reaction back of the past week or so and the appearance of a bullish looking candle on the chart yesterday at this support is thus a very encouraging sign.
Hecla Mining is thus rated a strong conservative buy here for all timeframes.
Hecla Mining website
Hecla Mining Co., HL, closed at $4.71 on 11th December 23.
Posted at 9.20 am EST on 12th December 23.