What: Shares of Hecla Mining (NYSE: HL) jumped 13% today as the price of silver rose.
So what: Silver has lagged gold lately, but now that silver is catching up so are silver miners like Hecla Mining. Lately, precious metals can do no wrong and this trade has only gained momentum.
Now what: With gold and silver being the trader's investment of choice, I just can't stand in the way of the trade. Hecla Mining will benefit from higher silver prices and there's no reason to say those prices will fall in the near term. I might wait for a better price, but I'm buying the long-term move by Hecla.
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