Smaller Precious Metals Miner Sets up Breakout Higher
Hecla Mining (HL) shares of the small cap precious metals name are curling higher and looks poised to break out above the $6.00 level which is one year value area high and a previous ceiling this year. HL blew through the 200 day EMA last week on its rebound off lows and saw a rare buyer of 5000 January $8 calls at $0.49 and still has a massive 21,000 January $5.50 short puts in OI from a seller last August. Hecla mines for both gold and silver as well as lead and zinc but has a focus on silver and likely can start to see the price of silver catch up to gold from here as the ratio between the two metals has become extreme with gold runup.