Hecla Mining price target raised to C$7.50 from C$6.75 at CIBC

CIBC raised the firm’s price target on Hecla Mining to C$7.50 from C$6.75 and keeps a Neutral rating on the shares. The analyst says silver has “punched through the key psychological level” of $30 per ounce. The firm adjusted price targets to reflect the multiple expansion that has benefitted the silver group. The new target multiples reflect a strong Q1, as well as continuing strength in silver fundamentals, the analyst tells investors in a research note.