Hecla Mining price target raised to $16.50 from $15 at CIBC

CIBC raised the firm’s price target on Hecla Mining (HL) to $16.50 from $15 and keeps a Neutral rating on the shares following the exploration update. Hecla previously transitioned its Nevada assets from production to exploration back in 2019 due to high costs and operational issues, but the recent results bring the potential to restart operations at significantly lower costs with existing infrastructure already in place, the analyst tells investors in a research note.