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We recently published a list of These 10 Stocks Defied Thursday’s Slump. In this article, we are going to take a look at where Hecla Mining Co. (NYSE:HL) stands against other stocks that defied Thursday’s slump.
The stock market ended in the red territory anew on Thursday following a fresh wave of uncertainties and reports of a looming government shutdown that rattled investors.
The Dow Jones dropped by 1.30 percent, while the S&P 500 and Nasdaq declined by 1.39 percent and 1.96 percent, respectively.
Meanwhile, investors took refuge in 10 companies, predominantly mining firms, to mitigate the risks from the macroeconomic threats.
In this article, we have listed the 10 strongest stocks and detailed the reasons behind their performance.
To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in trading volume.
Aerial view of a gold mine, with its winding roads and pits.
Hecla Mining Co. (NYSE:HL)
Hecla Mining extended its winning streak for the third consecutive day on Thursday, adding 3.59 percent to close at $5.77 apiece as the company continues to benefit from the favorable conditions for precious metals amid the ongoing trade tensions globally.
HL traded in line with higher gold prices, which, as of Thursday, was already nearing the $3,000 mark, ending at $2,982.87 per troy ounce.
The rally also came despite a downgrade in its price target to $7 from $8 by the Royal Bank of Canada. The bank, however, assigned the company an “outperform” rating.
Last year, HL posted an impressive earnings performance for both the fourth quarter and the full year of 2024. Net income attributable to shareholders in the quarter stood at $11.79 million, a reversal from the $43 million net loss in the same period a year earlier.
It also swung to a net income of $35 million from a net loss of $84.77 million in the same period a year ago.
Overall, HL ranks 10th on our list of stocks that defied Thursday’s slump. While we acknowledge the potential of HL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HL but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.