BMO Capital Markets Maintains Perform on Hecla Mining

BMO Capital Markets reiterates its Perform rating on Hecla Mining

as it discusses a negative impact on the company from the MSHA-ordered closure of Luck Friday mine shaft until 2013. BMO Capital Markets says, "Hecla announced that the Mine Safety and Health Administration (MSHA) has ordered the closure of the Lucky Friday mine Silver Shaft in order to remove built-up material in the shaft. Hecla expects the removal of sand and concrete material from the shaft to take through the end of 2012 to complete. Accordingly, production is expected to resume in early 2013, and HL has revised its 2012 production guidance down to 7Moz from 9.5Moz. The mine has been placed on temporary care & maintenance. The order from MSHA follows on its investigation surrounding the rock burst incident at the mine in mid-December." HL closed at $5.84 per share on Tuesday.