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Fly News Breaks for January 17, 2019
HL
Jan 17, 2019 | 07:09 EDT
As noted earlier, RBC Capital analyst Mark Mihaljevic downgraded Hecla Mining to Underperform from Sector Perform and lowered his price target to $2.75 from $3.25. The analyst cites the company's "challenging operating outlook" given the slow turnaround of its recently purchased Nevada operations. Mihaljevic is also concerned with Hecla's limited free cash flow and elevated financial leverage after it was able to generate only $12M in cash flow while ending the year with $27M in cash in 2018.
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