Shares of Hecla Mining Company (HL) plummeted by 5.87% on November 11, 2024, extending its losing streak to nine consecutive trading days. The stock has now fallen by 23.38% over this period, marking its longest stretch of declines since April 2008.
The continued sell-off comes as Roth MKM, an investment firm, lowered its price target on Hecla Mining to $6.60 from $6.90, while maintaining a "Buy" rating on the stock. Analyst price target revisions can sometimes influence investor sentiment and contribute to stock price movements.
Despite the recent downturn, Hecla Mining's stock is still up 12.46% year-to-date, putting it on track for its best annual performance since 2020. However, the company's shares have fallen 28.16% from their 52-week closing high of $7.53 reached on October 22, 2024.
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