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Fly News Breaks for November 7, 2019
Nov 7, 2019 | 19:59 EDT
BMO Capital analyst Ryan Thompson upgraded Hecla Mining to Market Perform from Underperform with a price target of $2.20, up from $1.60. The analyst says today's 5.9% selloff was "overdone" since the company's Q3 results were "relatively in-line". Thompson notes that the top-line miss was related to deferred revenue and not of "real relevance", even though he still sees Hecla Mining constrained by its balance sheet problem. The analyst further states that the improved pricing environment in metals since his May downgrade of the stock alleviates some of the pressure.