Deutsche Bank Starts Hecla Mining (HL) at Hold; Lucky Friday Mine Not So Lucky

Deutsche Bank initiates coverage on Hecla Mining (NYSE: HL) with a Hold. PT $5.50.

Deutsche analyst said, "Hecla is the largest primary silver producer in the US, producing 9.5m oz of silver in 2011. It derives about a third of revenues from zinc/lead by-products. Although our $5.50/share target implies ~22% capital upside coupled with 1.5% dividend yield, the Hold rating is attributable to the operational risk at Lucky Friday mine, which has been temporarily closed post Mine Safety and Health Administration (MSHA) order."

For an analyst ratings summary and ratings history on Hecla Mining click here. For more ratings news on Hecla Mining click here.

Shares of Hecla Mining closed at $4.56 yesterday.

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