Why Hecla Mining Stock Fell 13% in March
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.
Hecla Mining's production is a mixture of metals, like most miners. 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. It has also tied its dividend to the price of silver. So while gold is a bigger contributor, the company is often viewed as a silver miner.
Image source: Getty Images.
Source Fool.com
