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As Price Of Silver Pulls Back Shares Of Hecla Mining Company (NYSEARCA: HL) Benefit From Dividend Boost – Mike Swanson (09/08/2020)

Today has been a tough day for the Nasdaq and even the price of silver is down today roughly -1.47% going into the noon hour. Mining stocks are also getting some selling pressure, but shares of Hecla Mining Company (NYSEARA: HL) are building a nice support right on their 50-day moving average. Take a look at the chart.

Hecla Mining Company shares are off the lows of their day and remain above their 50-day moving average. HL is one of few pure play silver mining stocks and recently just announced a beefy 50% dividend boost. The company announced on September 1, 2020 that it was increasing the “dividend 50% to an annualized one and one-half cents per share and lowering the silver-linked dividend threshold price. If Hecla’s average realized silver price for a quarter is $25.00 per ounce, the new silver-linked quarterly dividend policy provides an annualized two cents per share, while at $30 and above, the realized silver-linked dividend per quarter is unchanged.”

The stock price action and fundamentals behind Hecla Mining Company caused Zacks to declare it to be “a great momentum stock to buy.” I agree and have been owning shares myself for sometime. People on Twitter into mining stocks also are getting more focused on it.

Again I own shares of Hecla Mining Company. although I don’t expect it to go up as my favorite small cap mining stock pick for this month, but it is a nice dividend paying stock. Before the opening bell every morning I send out an email with the top stories I am following today and thoughts and ideas on trading these markets. To subscribe for free just click here.