Shares of Hecla Mining Co. fell sharply on Monday after the silver producer posted a better first-quarter profit but still missed Wall Street estimates.
The stock shed $1.05, or 10.1 percent, to $9.32.
RBC Capital Markets analyst Michael Curran cut his price target $1 to $15 in a note to investors Tuesday, citing the company's lower-than-anticipated profit. The new figure implies a rate of return of 45 percent.
Although the company is a low-cost producer of silver, Curran said, its appeal is tempered by its below-average growth rates among its peers. Curran still maintained his "Outperform" rating on the stock.
After the end of trading Monday, the Coeur d'Alene, Idaho, miner posted a first-quarter profit of 10 cents per share. The results missed analyst estimates by 3 cents per share, according to a poll by Thomson Financial, and Curran's estimate by 5 cents.
The stock has traded between $6.58 and $13.14 in the last 52 weeks.
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