Silver for September delivery is climbing 0.78% to $20.51 per ounce this afternoon and gold for December delivery is following suit, up by 1.23% to $1,349 per ounce on the COMEX.
Gold and silver are gaining this afternoon after an economic report earlier today revealed that manufacturing growth in the U.S. for July was more subdued than analysts' anticipated, MarketWatch reports.
The ISM Manufacturing Index declined in July to 52.6 from 53.2 in June, indicating that manufacturers grew at a slower rate this past month.
Analysts see this slight decline as indicative that the Federal Reserve will hold off hiking interest rates in September. Commodity metals tend to trade lower in high interest environments as investors look for assets that provide a yield.
The data, along with a stronger U.S. dollar, is pushing gold and silver prices higher.
Hecla Mining is a Coeur D Alene, ID-based gold, silver, lead and zinc producer.
Separately, 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.
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 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