Welcome to our dedicated page for Hecla Mining Company news (Ticker: HL), a resource for investors and traders seeking the latest updates and insights on Hecla Mining Company stock.
Hecla Mining Company (NYSE: HL) is a prominent player in the mining industry, specializing in the discovery, acquisition, development, production, and marketing of mineral resources. The company mainly focuses on the exploration and production of silver, gold, zinc, and other valuable metals. Hecla’s operations are diversified across several key segments, including Greens Creek, Lucky Friday, Keno Hill, Casa Berardi, and Nevada Operations, with the Greens Creek segment generating the maximum revenue.
Hecla Mining has a significant geographical footprint, operating across Canada, the United States, and Mexico, but derives the majority of its revenue from the United States. This diversified geographic presence helps the company mitigate risks and capitalize on various market opportunities.
Hecla's enduring success is largely attributed to its dedicated workforce. The company emphasizes that its people are its greatest resource, whose dedication and group effort drive the company forward.
In terms of financial stability, Hecla has consistently demonstrated its ability to generate profits through its core operations. The company is committed to creating value for its shareholders by efficiently managing its resources and continuously exploring new opportunities for growth.
Hecla Mining Company remains a critical entity in the mining sector due to its robust operational strategy, significant mineral reserves, and a clear commitment to sustainable and profitable resource management.
Hecla Mining Company (NYSE:HL) will celebrate its 60-year milestone on the New York Stock Exchange by ringing the NYSE Closing Bell® on November 21, 2024. As the oldest continuously listed precious metals mining company on the NYSE and the largest silver producer in the United States, Hecla marks this occasion highlighting its 133-year legacy of innovation, community engagement, and environmental stewardship.
The ceremony, scheduled for 4:00 p.m. Eastern Time, will be broadcast live on CNBC and NYSE's streaming platforms. CEO Rob Krcmarov emphasized the company's enduring strength and commitment to shareholder value.
Hecla Mining reported Q3 2024 results with revenues of $245.1 million, the second highest in company history. The company produced 3.6 million silver ounces and 32,280 gold ounces. Net income was $1.6 million or $0.00 per share, with adjusted net income of $19.7 million. The company reduced total debt by $50.6 million and achieved a net leverage ratio of 1.8. Cash flow from operations was $55.0 million, with strong free cash flow generation at Greens Creek ($46.9 million) and Lucky Friday ($23.2 million). The company declared a silver-linked quarterly dividend of $0.01 per share.
Hecla Mining Company (NYSE: HL) has appointed Rob Krcmarov as its new President and CEO, effective November 7, 2024. Krcmarov, who will also join the Board of Directors, brings over 35 years of industry experience, including 13 years on Barrick Gold 's executive leadership team. He succeeds Catherine Boggs, who served as Interim President and CEO since May 2024 and will remain as Board Chair. Additionally, Carlos Aguiar has been promoted to Senior Vice President and Chief Operating Officer, advancing from his previous role as Vice President – Operations.
Hecla Mining Company (NYSE:HL) has announced it will release its third quarter 2024 operational and financial results after market close on November 6, 2024. The company will host a conference call and webcast to discuss the results on November 7, 2024 at 10:00 a.m. Eastern Time. Following the main conference call, Hecla will offer opportunities for one-on-one calls with management team members, with sign-up details to be provided in the earnings news release.
Hecla Mining Company (NYSE:HL) has appointed Jill Satre to its Board of Directors, effective October 16, 2024. Ms. Satre, currently the Vice President of Internal Audit & Corporate Compliance at TC Energy, brings extensive expertise in mining and energy sectors, as well as leadership in corporate governance, risk management, and compliance.
Cassie Boggs, Interim CEO of Hecla, expressed enthusiasm about the appointment, highlighting Ms. Satre's deep understanding of financial controls, audit processes, and enterprise risk management as valuable contributions to Hecla's growth strategy. Prior to TC Energy, Ms. Satre spent over two decades at PwC, accumulating significant experience in resource extraction industries. She holds a Chartered Professional Accountant (CPA) designation in Alberta and a Bachelor of Business Administration from the University of Regina.
Hecla Mining Company (NYSE:HL) has announced its participation in two major industry events. Cassie Boggs, Interim President and CEO, will represent the company at both Gold Forum Americas 2024 and MINExpo International.
At Gold Forum Americas in Colorado Springs, Boggs will deliver a presentation on September 16 at 3:30 PM Mountain Time. A live webcast will be available. At MINExpo International in Las Vegas, she will participate in the Producer CEO Panel on September 24 at 1:00 PM Pacific Time at the Las Vegas Convention Center.
Presentation materials for both events will be accessible on Hecla's website under News & Media > Events & Webcasts.
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.
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