Hecla Mining (HL) Stock Slides with Falling Gold Prices
NEW YORK (TheStreet) -- Shares of Hecla Mining (HL) - Get Report are down 4.23% to $5.89 this morning after gold prices began to slump.
Gold for August delivery is down 1.07% to $1,318 per ounce on the COMEX today. Silver for September delivery is also down, dropping 2.16% to $19.58 per ounce on the COMEX.
Gold and silver are falling as the U.S. dollar strengthens.
Also pressuring commodity metal prices is economic data that indicates the U.S. government will increase interest rates this year, potentially as early as September, MarketWatch reports.
Gold and silver typically see losses when interest rates increase, as investors search for investments that bring higher yield than the commodity metals.
Hecla Mining is a Coeur D Alene, ID-based mining company.
Separately, TheStreet Ratings rated this stock as a "hold" with a ratings score of C.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, TheStreet Ratings also finds weaknesses including disappointing return on equity, weak operating cash flow and feeble growth in the company's earnings per share.
You can view the full analysis from the report here: HL
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.