Hecla Mining Co Stock Price, News & Analysis

Hecla Mining Company (NYSE:HL) reported its Q2 2024 financial results, reflecting strong performance in silver production and record revenues. The second quarter highlights include:

• Production of 4.5 million silver ounces, the second highest in company history.
• Record mill throughput of 1,181 tpd.
• Revenues of $245.7 million, the highest in company history.
• Net income of $27.7 million or $0.04 per share.
• Adjusted EBITDA of $90.9 million, a record high.

Operational efficiency improved, with Lucky Friday achieving its highest production since 2000. The company's free cash flow was $28.3 million, with significant contributions from Greens Creek and Lucky Friday. Consolidated silver cost was $123.3 million, with cash costs per ounce at $2.08. Hecla reiterated 2024 silver production and financial guidance, while also increasing gold production guidance.

Hecla Mining Company (NYSE:HL) has announced its plans to release second quarter 2024 operational and financial results after the market close on August 6, 2024. The company will hold a conference call and webcast on August 7, 2024, at 10:00 a.m. Eastern Time to discuss the results. Investors can join the call using the provided toll-free and international dial-in numbers or access the webcast through the given link. Following the main call, Hecla will offer one-on-one calls with management members, with sign-up details to be provided in the earnings news release on the morning of the conference call.

Hecla Mining Company (NYSE:HL) announced the dismissal of the 'bad actor' lawsuit targeting its Libby Exploration Project in Montana. The lawsuit was dismissed following the retirement of Hecla's former CEO, Phillips Baker Jr. Filed by environmental groups and tribes against the Montana Department of Environmental Quality (MDEQ), the lawsuit claimed Baker's past involvement with Pegasus Gold's bankruptcy should disqualify Hecla from receiving exploration and mining permits. With the lawsuit dismissed, Hecla now aims to advance the permitting of its silver-copper Libby Project.

Hecla Mining Company (NYSE:HL) has announced its preliminary production results for Q2 2024, highlighting a 10% year-to-date increase in silver production compared to 2023.

The Keno Hill mine achieved 1.5 million ounces of silver, with a throughput of 341 tons per day year-to-date, increasing to 406 tpd in Q2. Lucky Friday mine reported record quarterly throughput of 1,181 tpd, with a 23% increase in silver production over Q1.

Casa Berardi's gold production rose by 4%, while Greens Creek's silver and gold outputs declined by 9% and 3% respectively, due to lower grades and throughput. Hecla produced 4.5 million silver ounces in Q2, a 6% rise from Q1. The company's projected annual silver production is 17 million ounces for 2024, marking a nearly 20% growth from 2023.

The company also collected $17.8 million in insurance proceeds this quarter, totaling $35.2 million of the $50 million policy sub-limit. Despite significant achievements, Hecla continues to focus on improving safety and environmental practices, particularly at Keno Hill.

Hecla Mining Company (NYSE: HL) has announced a leadership transition with Catherine J. “Cassie” Boggs appointed as the Interim President and CEO. Ms. Boggs, currently the Chair of the Board, succeeds Phillips S. Baker Jr., who is retiring after nearly 23 years of service. In addition to her new role, she will continue as Chair of the Board, and Charles B. Stanley will serve as Lead Independent Director starting May 23, 2024. Ms. Boggs will be supported by a committee of senior executives. The Board has initiated a search for a permanent CEO.

Ms. Boggs brings over 40 years of mining industry experience, including roles at Resource Capital Funds, Barrick Gold , and Tethyan Copper Company. The company assures that day-to-day operations will remain unaffected during the transition.

Hecla Mining Company (NYSE: HL) has released its 2023 Sustainability Report, detailing the company's ESG (Environmental, Social, and Governance) performance amidst operational disruptions from wildfires in Quebec and severe weather in Alaska. Key highlights include an $855 million direct economic impact on local communities, over 40,000 hours of safety and health training, a 16% lower All-Injury Frequency Rate than the US average, a 5% increase in women in professional roles, a 36% reduction in Scope 1 & 2 GHG emissions since 2019, and achieving net zero carbon emissions for the third consecutive year using carbon offset credits. The report follows GRI Standards and benchmarks against SASB Metals and Mining standards, TCFD guidelines, and the TSM framework for the Casa Berardi mine in Quebec.

Hecla Mining Company (NYSE:HL) reported strong first quarter 2024 results with operational highlights including increased silver production, improved safety measures, and financial sales of $189.5 million. The company affirmed its 2024 production and cost guidance, reiterating its position as the largest U.S. silver producer and projected growth in silver production up to 20 million ounces by 2026.