BMO Capital analyst Kevin O’Halloran downgraded Hecla Mining (HL) to Market Perform from Outperform with a price target of $5.50, down from $7.50, following the company’s Q1 earnings report. Hecla’s commentary “underscored ongoing challenges at Keno Hill’s ramp up,” and the firm cited the uncertainty at Keno Hill as a reason for the downgrade to Market Perform, along with uncertainty at Casa Berardi, where the company is evaluating strategic alternatives.
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