In a research report sent to investors today, Roth Capital analyst Joe Reagor maintained a Buy rating on Hecla Mining Company (NYSE:HL) with a $3.50 price target, which represents a potential upside of 45% from where the stock is currently trading. The analyst has revised his precious metals price forecasts for 2015-2017. As a result, Reagor reduced his estimates for HL.
Reagor commented: “We revised our gold and silver price forecasts for 2015-2017. We elected to lower our forecasts due to a combination of a strong U.S. dollar, a lack of reaction to world events that appear positive for the gold price, and a general herd mentality that fears reentering the precious metals space following the collapse of 2012-2013. For further details on our revised price assumptions refer to our Precious metals report issued July 9, 2015.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joe Reagor has a total average return of -15.1% and a 21.3% success rate. Reagor has a -7.4% average return when recommending HL, and is ranked #3674 out of 3694 analysts.