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On January 20, Eastern Time, Hecla Mining options saw a total of 93625 contracts traded, with calls accounting for 73% and puts making up 26%.
Shares of EchoStar (SATS.O) rose 6.2% to $78.20 in premarket trading following reports that Verizon Communications (VZ.N) is in talks to acquire the company's wireless spectrum, specifically the AWS-3 licenses crucial for 5G. If the deal goes through, Verizon would join AT&T and SpaceX in purchasing SATS spectrum licenses. SATS values its AWS-3 spectrum at $9.8 billion, and the company's stock has more than tripled in value year-to-date.
Hecla Mining (NYSE:HL) has outperformed the market over the past 5 years, achieving an average annual return of 27.23% and a market capitalization of $13.25 billion. A $1000 investment in HL stock 5 years ago would be worth $3,162.38 today. This highlights the significant impact of compounded returns on cash growth over time.
EchoStar Corp's shares rose 2.93% in premarket trading after brokerages increased their target prices following a $17 billion deal to sell wireless spectrum to SpaceX. TD Cowen raised its price target to $100 from $67, while Deutsche Bank increased its target to $102 from $67, citing the deal's significant after-tax spectrum value. EchoStar's stock has surged 252.10% year-to-date, benefiting from the resolution of its dispute with the FCC and the expansion of satellite service for Boost Mobile subscribers.
Cogent Biosciencesis launching $400 million in equity and convertible debt offerings following a 119% surge in its stock price, closing at a 7-year high of $32.46. The capital raised will be used to repay a $50 million term loan and fund development activities for its drug, bezuclastinib. Jefferies and JP Morgan are the joint bookrunners for the convertible bonds, while multiple firms are leading the equity deal. COGT has approximately 142.4 million shares outstanding, with a market cap of about $4.6 billion.
