HL - Why Coeur Mining Endeavour Silver and Hecla Mining All Popped 10% Today
Shares of gold and silver miner Hecla Mining (NYSE: HL) rose roughly 11% in the first hour of trading on Dec. 17. Coeur Mining (NYSE: CDE) was right there with it, also up about 11%. And topping the list was Endeavour Silver (NYSE: EXK) , which rose just north of 12%. There wasn't any earth-shattering news out of any of these precious metals miners today. The price gains were really more of a fundamental nature.
Hecla, Coeur, and Endeavour Silver mine commodity products that trade based on supply and demand. That said, very short-term movements in the price of silver and gold are often driven by investor sentiment. And while these miners can control their operating costs, to some degree, they simply can't do anything about the price of the commodities they produce. Today, silver, and to a lesser extent gold, were in rally mode in early trading.
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Why Coeur Mining, Endeavour Silver, and Hecla Mining All Popped 10% Today