UPDATE: Global Hunter Securities Initiates Coverage on Hecla Mining

According to a research report published this morning, Global Hunter Securities has initiated Hecla Mining Co.

with a Neutral rating and $4.85 PT. In the report, Global Hunter Securities commented, "Hecla Mining (HL) has been knocked down but not out in the past six months. While the company has suffered a major setback with the mandated closure of the Lucky Friday Mine, we believe it is on solid ground with its Greens Creek Mine continuing to operate at a high level and the ability to return to a silver growth story in 2013. In our opinion, HL represents meaningful exposure to the silver market, but with the risk of the Lucky Friday Mine taking much longer than anticipated to return to production." Hecla Mining is currently trading at $4.41.