Mining Stocks Surge on Metal Rally
The record precious metal prices lifted silver mining stocks to multi-year highs. Hecla Mining Company reached a 52-week high near $20.57 on Friday, up nearly 300% for the year. The company is set to join the S&P MidCap 400 Index on December 22, reflecting its growing market capitalization.
The surge comes as Hecla reported record quarterly revenue of $409.5 million and record net income in its third quarter, benefiting from silver prices that have climbed well above the $42.58 per ounce the company realized during that period.
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