Hecla Mining (NYSE: HL) stock was quite a winner on Monday, but not because of anything the company extracted from the ground. Rather, investors piled into the mining company because of its ascension to a closely followed stock index. This boosted the company’s share price by more than 12%, which made it quite the outperformer next to the S&P 500‘s (SNPINDEX: ^GSPC) 0.2% rise.
That news hit the headlines after market hours Friday, after being divulged in a press release from index company S&P Global. Every quarter S&P Global’s S&P Dow Jones Indices unit makes adjustments to its slate of influential stock indexes, and Hecla was involved in the latest set of changes.
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