Sumary of Why Hecla Mining Stock Fell 13% in March:
- What happened Shares of silver and gold miner Hecla Mining (NYSE:HL) fell just shy of 13% in March, according to data from S&P Global Market Intelligence..
- The price move was an up-and-down affair, however, which makes complete sense when you step back and look at the big picture..
- Gold makes up 47% of the business and silver 34%, with the rest a mixture of zinc (13%) and lead (the remainder)..
- However, Hecla has hitched its wagon to the silver train, actively touting itself as the largest silver producer in the United States, accounting for two-thirds of the country’s total silver production..
- In March silver prices started high, fell, rose back toward the early-month highs, and then fell again to finish the month near the lows..
- Hecla’s shares also tracked along with silver’s move, as miners are generally leveraged to the price moves in the commodities they produce..
- Now what The story here is that what happened in March is exactly what you would expect, so there’s really nothing to read into…