Hecla Mining price target lowered to $7.00 from $7.25 at National Bank

National Bank analyst Mike Parkin lowered the firm’s price target on Hecla Mining to $7.00 from $7.25 and keeps an Outperform rating on the shares. The firm is updating its model after the company update on Lucky Friday mine advising that they are suspending operations for the remainder of 2023 as they look to develop a secondary egress. Based on its update, Hecla is now expected to make modest draws on their revolving credit facility over the second half of 2023, and the firm’s net asset value estimate for the stock falls by about 2%, National Bank added.