Hecla Mining upgraded to Buy from Neutral at Roth MKM

Roth MKM upgraded Hecla Mining to Buy from Neutral with a price target of $4.40, up from $4. The analyst believes the company is poised for improved results in 2024 and that a second half of 2024 recovery in precious metals prices could provide an additional tailwind. The firm acknowledges Hecla’s Q3 production results were mixed compared to its expectations and that the Keno Hill ramp-up is slightly behind schedule, but it is looking towards the next round of potential catalysts, which it believes should be positive.