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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

8 Mining Stocks to Watch

Stocks in this article: RIC BRD PAL SWC TC HL SLW

3. Hecla Mining (HL) is engaged in discovering, acquiring, developing, producing, and marketing silver, gold, lead and zinc. The company is organized into two segments: the Greens Creek and Lucky Friday units.

During the first quarter 2011, the company's earnings more than doubled to $43.3 million or 15 cents per share from $21.8 million or 7 cents per share in the year-ago quarter as a result of a 70.7% increase in revenue to $136.4 million from $79.9 million in the first quarter of 2010. Revenue growth was driven by higher metal (silver, gold, lead and zinc) prices. In terms of volumes, silver sales increased 15.7% to ~2.4 million ounces, compared to volume declines across gold, lead and zinc.

As of March 2011, cash and cash equivalents soared to $321.7 million from $116.3 million at the end of March 2010 as cash flow from operating activities more than tripled to $60.9 million from $17.8 million.

Hecla reiterated silver production guidance in 2011 which will range between 9 and 10 million ounces. Also, the company forecasts total cash cost per ounce to be approximately zero dollars of silver produced, net of by-product credits, based on $1,350 per ounce of gold, and $1.05 per pound of lead and zinc.

Of the nine analysts covering the stock, 44% recommend a buy on it, while 33% rate a hold. On average, analysts foresee 71.7% upside to $12 from current levels.

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