Shares of Hecla Mining (NYSE: HL) rose by as much as 16% at one point this week according to data from S&P Global market Intelligence . Although it hasn't held on to all of that advance, by the open of trading on Jan. 21 the stock was still sitting with a roughly 9.5% gain. There was no news out of the gold and silver miner this week, but a business update on Jan. 13 may have set the stock up for this week's gains.
Last week Hecla Mining provided an update on its 2021 production, which was mixed, but overall appears to bode well for the future. Notably, while gold and silver production fell 4% and 5%, respectively last year, there were positive trends at key mines. For example, the Lucky Friday mine increased silver production by a huge 75% in 2021 because it was fully operational for the year. But perhaps more notable was the 15% sequential production increase from the third quarter thanks partially to improved silver grades. The Greens Creek mine also saw a sequential quarterly increase in production. Sequential production was up at the Casa Berardi mine, as well, with the mill there operating at record levels helped by production coming from an expansion investment. While that's last week's news, it's an important backdrop.
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Why Hecla Mining Stock Jumped as Much as 16% This Week