Hecla Falls 18.4% in 2 Weeks Since Our Take Profits Signal
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| Topic: Silver Mining Companies — December 13th, 2007
On the 30th November 2007 we gave a Take Profits signal on Hecla Mining as we thought the stock was overbought and it had not corrected like other silver stocks had done.
In just two days, masses of selling has driven this stock down nearly three dollars! Hecla was due a correction as it was trading much high than similar silver stocks and it needed to fall back closer to its moving averages. It has now taken quite a drop and so is no longer overbought.
We are looking to give another BUY signal on Hecla soon, and when we do it will be published on www.silver-prices.net ASAP and our subscribers will be informed. To stay updated, subscribe to our Silver Prices Newsletter totally free of charge, simply click here and enter your email to subscribe.
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![[Most Recent Quotes from www.kitco.com]](http://kitconet.com/images/quotes_2a.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
Any idea why Hecla is underperforming today (2/19)? Almost all PM stocks shot up today along with the bullion except for Hecla. Earnings are due Friday (2/22)….I wonder if there is a negative surprise awaiting us?
Any thoughts?
Comment by Norman — February 19, 2008 @ 4:16 pm
Norman,
HL had a better day today up 4.10% to $10.42.
Comment by Silver Prices — February 21, 2008 @ 12:36 am
What do you make of this Wall Street Journal article yesterday on Hecla (2/22):
“Hecla Mining Co.’s (HL) fourth-quarter earnings fell 60% to $8.23 million, or 6 cents a share, from $20.5 million, or 17 cents a share, a year earlier.”
I have a sizeable position (for me anyway) in HL and this kind of news makes me a bit nervous. I read the transcript of the conference call and really can’t figure out why their EPS were so poor last quarter. Any helpful insights?
All of my HL shares were purchased last month in the sub $9 range so I don’t think I will lose money, but I don’t want to hold this stock if it’s not going to gain in the next few months especially with silver breaking out to $18. Should I dump it for another silver stock?
BTW, after closing at $10.42 on Wednesday it was down to $9.86 on Friday. Did the 4Q EPS drag the stock down?
Thanks for any help!
Comment by Norman — February 23, 2008 @ 9:12 pm
I guess I’ll stop complaining about Hecla now!
Comment by Norman — February 27, 2008 @ 8:10 am