Hecla Mining (NYSE: HL) is a mining company engaged in the exploration and development of mineral properties also the mining and processing of silver, gold, lead and zinc.
Since May 2019, HL established a strong reversal after it ended the decline since 2016 peak and started a new bullish cycle. the stock traded higher within an impulsive structure which is currently still in progress within wave 3 of ((3)) with a short term target at $3.56 – $3.87.
As the stock is still in the process of correcting the decline from 2016 peak then ideally it’s expected to revisit $4.4 – $6.1 area this year before a larger pullback can take place to allow buyers to join the rally again after a 3 or 7 swings correction.
The stock will remain supported in 2020 with the rise of precious metals Gold & Silver and similar mining companies like Barrick Gold Corporation (NYSE: GOLD) & Royal Gold (RGLD).
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