For May delivery, silver is up by 1.05% to $15.35 per ounce and gold for June delivery is soaring by 1.8% to $1,244 per ounce on the COMEX this afternoon.
Gold is gaining after dovish comments from Federal Reserve Chair Janet Yellen, who said the slowdown in China and plunging oil prices help justify a slower pace for future interest rate hikes, the Wall Street Journal reports.
Yellen's cautious tone hurt the U.S. dollar this afternoon.
Higher interest rates strengthen the greenback at the expense of metals that don't offer a yield, such as gold and other dollar-priced commodities, MarketWatch noted.
"This speech will presumably kill any speculation that the Fed might somehow raise rates in April," Paul Ashworth, chief U.S. economist at Capital Economics, wrote in a note following Yellen's policy speech, cited by MarketWatch.
Hecla Mining is a Coeur d'Alene, ID-based company that mines and processes silver and gold, with properties and plants in the U.S., Mexico and Venezuela.
Separately, TheStreet Ratings Team as a Sell with a ratings score of D+ on the stock.
This is driven by a few notable weaknesses, which should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks covered.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
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.
You can view the full analysis from the report here: HL