Hecla Mining Company's stock saw a significant pre-market surge of 5.15% on Tuesday, following positive sentiment around the gold market and analysts' bullish outlook for the precious metal.

According to industry analysts at major financial institutions like UBS and Goldman Sachs, gold prices are expected to continue their upward trajectory in the coming months. UBS strategist Joni Teves raised her year-end gold price target to $2,900 per ounce, citing strong positive investor sentiment and a lack of positioning as driving factors for further price appreciation.

Goldman Sachs analysts, led by Lina Thomas, echoed a similar sentiment, lifting their gold price forecast to $3,100 per ounce by the end of the year. They cited structurally higher central bank demand as a key factor, which they estimate could add 9% to the gold price by the end of 2025.