natatravel/iStock via Getty Images Hecla Mining Update Data by YCharts This is an update on Hecla Mining ( HL ), a stock I last covered way back in December 2023 in my article, " Hecla Mining: A Silver Lining In A Tough Industry ." At the time, the stock was $5 per share, with silver stuck in the low-$20s range, and I felt investors were ignoring silver producers like Hecla in favor of gold miners...
natatravel/iStock via Getty Images Hecla Mining Update Data by YCharts This is an update on Hecla Mining ( HL ), a stock I last covered way back in December 2023 in my article, " Hecla Mining: A Silver Lining In A Tough Industry ." At the time, the stock was $5 per share, with silver stuck in the low-$20s range, and I felt investors were ignoring silver producers like Hecla in favor of gold miners ( GDX ). My thesis at the time: Hecla's strong asset base was worth more than the market's value, and a recovery in silver prices would significantly boost its cash flows. That call worked out well: HL has delivered roughly 380% returns since then, beating the S&P 500’s 60% gain over the same period. Silver's massive move higher has a lot to do with that, for sure. Gold’s surge above $5,000 also helps. But I have to give Hecla credit for executing their game plan and giving me one of my best stock calls. Yet, investors reading about Hecla today care far more about future upside potential than past gains. I'm not going to spend any more time talking about past share price gains. The question is, does the stock offer enough upside to justify holding (or buying) here? I feel the risk/reward has shifted materially, and there are better places to put your silver dollars right now, as I argue below. 2025: The Year Everything Clicked The Q4 and full-year 2025 results impressed. Here's a look at its results. Hecla Mining For 2025, silver production hit 17 million ounces, a 20% increase year-over-year and the high end of guidance, which is obviously great to see. Gold production came in at 151,000 ounces, slightly above guidance. AISC for silver was $11.28 per ounce (after by-product credits), leading to pretty healthy margins. But the financial transformation is where it gets interesting, as Hecla's free cash flow increased by more than 50x compared to 2024. Metric FY 2025 FY 2024 Revenue ~$1.4 billion ~$880 million Silver Production (Moz) 17.0 14.2 Gold Production (Koz) 151 ~148 ...
Among the NYSE and Nasdaq stocks hitting new 52-week highs on Tuesday were three high-flying consumer staples stocks. While they’re all great businesses, their valuations have gotten ahead of themselves. Replace them with these Mag 7 Upgrades.
Among the NYSE and Nasdaq stocks hitting new 52-week highs on Tuesday were three high-flying consumer staples stocks. While they’re all great businesses, their valuations have gotten ahead of themselves. Replace them with these Mag 7 Upgrades.
President Donald Trump said during the State of the Union address that tech companies will provide their own power for AI data centers — but energy experts say things are not that simple.
President Donald Trump said during the State of the Union address that tech companies will provide their own power for AI data centers — but energy experts say things are not that simple.
Scott Olson/Getty Images News With uncertainty surrounding the U.S. beer consumption outlook and the potential for continued softness, BofA Securities cut Molson Coors ( TAP ) to Underperform from Neutral, flagging profit risks tied to the company’s high fixed-cost structure. After reporting fourth quarter results – which showed a decline in profit and sales—BofA Securities analyst Peter Galbo fou...
Scott Olson/Getty Images News With uncertainty surrounding the U.S. beer consumption outlook and the potential for continued softness, BofA Securities cut Molson Coors ( TAP ) to Underperform from Neutral, flagging profit risks tied to the company’s high fixed-cost structure. After reporting fourth quarter results – which showed a decline in profit and sales—BofA Securities analyst Peter Galbo found the results to be weaker than expected and provided investors with limited visibility into stabilizing volumes. The downgrade reflects not only the likelihood for further losses in the beer category but also the “outsized” impact on TAP’s earnings given its high fixed asset footprint. “We estimate every 0.25% decline in shipments drives roughly $0.06 of EPS reduction,” Galbo writes, which accounts for predictions for FY26 to drop 15% year-over-year and a revision to FY27 EPS guidance to $4.70 from $5.68, reflecting “weak industry dynamics and continued share loss.” “While TAP’s network modernization efforts have improved flexibility, volume risk remains the dominant driver of earnings volatility,” Galbo says. Within the company’s fourth quarter results was recognition that “challenging industry dynamics and rising commodity input costs” have pressured TAP’s bottom-line. And at the company’s CAGNY presentation, Molson Coors ( TAP ) reiterated its outlook for sales to be flat to down 1% from a year ago, driving net income down 15% to 18%. Since reporting fourth quarter results last week, shares of Molson Coors ( TAP ) have lost 7% in value. More on Molson Coors Molson Coors: Results Were Not Refreshing Molson Coors Beverage Company (TAP) Presents at Consumer Analyst Group of New York Conference 2026 - Slideshow Molson Coors Beverage Company (TAP) Presents at Consumer Analyst Group of New York Conference 2026 Transcript Molson Coors Non-GAAP EPS of $1.21 beats by $0.06, revenue of $2.66B misses by $50M Molson Coors Q4 2025 Earnings Preview
Alerian MLP ETF (NYSEARCA:AMLP) offers income investors exposure to midstream energy infrastructure through a portfolio of Master Limited Partnerships. With a current price of $51.79 and trailing annual distributions of roughly $3.93 per share, the fund yields approximately 7.6%. But understanding how the fund works and what risks sit underneath it is essential context. How ... Retirees Are Watchi...
Alerian MLP ETF (NYSEARCA:AMLP) offers income investors exposure to midstream energy infrastructure through a portfolio of Master Limited Partnerships. With a current price of $51.79 and trailing annual distributions of roughly $3.93 per share, the fund yields approximately 7.6%. But understanding how the fund works and what risks sit underneath it is essential context. How ... Retirees Are Watching AMLP as Natural Gas Prices Briefly Hit Highest Price in Years
Coller Capital , a secondaries firm, agreed to buy $477 million of assets from New Mountain Finance Corp. as the private credit fund looked to boost its financial flexibility. The publicly traded business development company disclosed Tuesday that it had sold full or partial investments in 15 of its portfolio companies at 94% of fair value as of Dec. 31. Chief Executive Officer John Kline told inv...
Coller Capital , a secondaries firm, agreed to buy $477 million of assets from New Mountain Finance Corp. as the private credit fund looked to boost its financial flexibility. The publicly traded business development company disclosed Tuesday that it had sold full or partial investments in 15 of its portfolio companies at 94% of fair value as of Dec. 31. Chief Executive Officer John Kline told investors Wednesday that the assets were sold to “a newly formed vehicle backed by Coller Capital.” “The portfolio is comprised of many of our largest positions,” he said on an earnings call, adding that 33% were software-related companies. Executives said pricing represented a normal discount for a transaction of its size.
Peter Wardley and Tom Moore remind us of historical royal troubles. Plus letters from Agama Cunningham, Chris Edwards , Ian Reader and Derrick Cameron Simon Jenkins says that, apart from two fines paid by Princess Anne (one for an uncontrolled dog, the other for speeding), researchers into royal quarrels with the law have to go back to Charles I and Mary, Queen of Scots ( Stripped of finery, detai...
Peter Wardley and Tom Moore remind us of historical royal troubles. Plus letters from Agama Cunningham, Chris Edwards , Ian Reader and Derrick Cameron Simon Jenkins says that, apart from two fines paid by Princess Anne (one for an uncontrolled dog, the other for speeding), researchers into royal quarrels with the law have to go back to Charles I and Mary, Queen of Scots ( Stripped of finery, detained by police as an ordinary citizen: now Andrew enters a new era – and Britain too, 19 February ). Leaving aside less serious brushes with law, often over property rights, there are two cases of major legal significance that he fails to note – in neither were the consequences confined within the British Isles. Continue reading...
Prof Robin Simon on the charity’s visionary founder, Fred Hohler I was pleased to see Art UK’s achievements mentioned in your article, but astonished that it only featured its new chair and not the remarkable man who made it all possible ( ‘We’ve scratched the surface’: mission to digitise UK public art reaches 1m entries, 23 February ). I refer to Fred Hohler, who established the Public Catalogue...
Prof Robin Simon on the charity’s visionary founder, Fred Hohler I was pleased to see Art UK’s achievements mentioned in your article, but astonished that it only featured its new chair and not the remarkable man who made it all possible ( ‘We’ve scratched the surface’: mission to digitise UK public art reaches 1m entries, 23 February ). I refer to Fred Hohler, who established the Public Catalogue Foundation, a charity the work of which is now online under its registered trademark – Art UK. Hohler’s aim was inspired: to record every oil painting in every public collection in the UK. Having achieved that, he is now directing an even larger project with a similar aim, The Watercolour World, which is a charity under the patronage of the king and queen. Prof Robin Simon Editor, British Art Journal Continue reading...
Ana Beard says we should all connect more with colour as it is multidisciplinary and you can engage with it at any level I was with Francesca Newton most of the way ( The 60-second rule? Colour theory? Yet more ways we’re supposed to live our lives, 21 February ). There is too much noise online, and if Francesca mostly wears black, good. But the truth is multifaceted. Connecting with colour is a j...
Ana Beard says we should all connect more with colour as it is multidisciplinary and you can engage with it at any level I was with Francesca Newton most of the way ( The 60-second rule? Colour theory? Yet more ways we’re supposed to live our lives, 21 February ). There is too much noise online, and if Francesca mostly wears black, good. But the truth is multifaceted. Connecting with colour is a joyful way to resist the pervasive, racist and misogynistic chromophobia that has tainted the west for hundreds of years. I enjoy the Colour Me Beautiful movement, but I’ll still wear pink even if it doesn’t “suit” me. Continue reading...
Prof Roger Bayston extols the virtues of wearing wooden shoes I was interested to see the article about the decline in clog wearing ( Experience: I am the last traditional clog maker in England, 22 February ). I had “flat feet” in the 1970s, perhaps due to working in hospitals with underfloor heating. During a visit to Sweden in 1974, I noticed many people wearing wooden shoes, and decided to try ...
Prof Roger Bayston extols the virtues of wearing wooden shoes I was interested to see the article about the decline in clog wearing ( Experience: I am the last traditional clog maker in England, 22 February ). I had “flat feet” in the 1970s, perhaps due to working in hospitals with underfloor heating. During a visit to Sweden in 1974, I noticed many people wearing wooden shoes, and decided to try a pair. Instant comfort. Continue reading...
Stripe is considering an acquisition of all or parts of PayPal Holdings, according to people familiar with the matter. Ryan Gould reports on "Bloomberg Deals." (Source: Bloomberg)
Stripe is considering an acquisition of all or parts of PayPal Holdings, according to people familiar with the matter. Ryan Gould reports on "Bloomberg Deals." (Source: Bloomberg)
Palantir Technologies (NASDAQ: PLTR) posted another blockbuster earnings report in early February. Its fourth-quarter revenue surged 70% year over year, accelerating from the 63% growth in the previous quarter. The main dilemma for investors considering the stock is valuation. It's expensive, trading at a forward price-to-sales ratio (P/S) of 48 times and a forward price-to-earnings multiple (P/E)...
Palantir Technologies (NASDAQ: PLTR) posted another blockbuster earnings report in early February. Its fourth-quarter revenue surged 70% year over year, accelerating from the 63% growth in the previous quarter. The main dilemma for investors considering the stock is valuation. It's expensive, trading at a forward price-to-sales ratio (P/S) of 48 times and a forward price-to-earnings multiple (P/E) of 100 at the time of this writing. Many investors recognize the quality of Palantir's business, but the average Wall Street analyst has kept a hold rating on the stock for the past year, and that can be attributed to its high sales multiple. Year to date, the stock is down 24%. There's competition and negative sentiment across software stocks right now, but there's one reason I continue to hold Palantir shares and remain bullish on the company's long-term growth potential. Continue reading
Monty Rakusen/DigitalVision via Getty Images In this article, I'm going to initiate coverage on Swedish mining supplier Epiroc AB (publ) ( EPOAY ). I cover some of the other Swedish industrials - and while Epiroc is typically a less well-known player, with the exception of key end markets, it's a very qualitative one, though with exposure to volatile end markets. These need to be considered carefu...
Monty Rakusen/DigitalVision via Getty Images In this article, I'm going to initiate coverage on Swedish mining supplier Epiroc AB (publ) ( EPOAY ). I cover some of the other Swedish industrials - and while Epiroc is typically a less well-known player, with the exception of key end markets, it's a very qualitative one, though with exposure to volatile end markets. These need to be considered carefully because their potential for ups and downs is significant. Whenever there's a bout of "market growth" or outperformance, investors may (rightly) become confident about the appeal or upward potential of cyclical stocks. There is nothing wrong with this - as long as it's done carefully and with a reasonable amount of foresight as to what might happen. But that's typically not what happens. Instead, what I see is investors combining a display of high confidence during a cyclical or growth-spurred rise while completely ignoring the downside risks. This is despite these downside risks not only being historically relevant and present but also being very clear in the numbers (if you analyze them the "right" way). Investors tend to, further, ignore the flip side of economic expansion. While it's true that cyclicals have a tendency to outperform during significant growth spurts and recoveries, the rich multiples they tend to achieve are not something that's likely to "stay". Instead, what I see happening is investors falling prey to a significant amount of behavioral biases. I check myself very frequently to make sure I don't fall into these traps (as I see them), such as recency, overconfidence, herd mentality, or incorrect correlations. That's why when I see what I believe to be a bias-driven market, such as the one now, I do what I can to raise awareness of these risks. No matter who you are, I don't want you to lose money. So if you're reading this, and you think you might be invested in things that might not be as good as you think them to be - just like focusing on a tense ...