LONDON, UK / ACCESSWIRE / January 12, 2018 / Active-Investors.com has just released a free research report on Hecla Mining Co. (NYSE: HL) ("Hecla"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HL as the Company's latest news hit the wire. On January 10, 2018, the Company announced preliminary production results of silver and gold for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Hecla Mining most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Production Summary of 2017
The Company reported silver production of 12.5 million ounces, down from the record achieved in 2016, and gold production of 232,685 ounces. The Company's silver equivalent production totaled 40.9 million ounces, while its gold equivalent production was of 554,843 ounces. Hecla also declared lead production of 22,734 tons and zinc production of 55,109 tons, and that gold production at Casa Berardi was the highest since its acquisition.
Hecla is Well-Positioned for 2018
Phillips S. Baker, Jr., President and Chief Executive Officer (CEO) of Hecla, stated that the Company's mines finished the year strongly, with Greens Creek exceeding the estimates again this year and Casa Berardi and San Sebastian performing at the upper end of the estimates, generating the second highest annual silver production and third highest gold production in the Company's 126-year history. Baker, Jr. added that although annual silver production has declined from 2016 as a result of the strike at the Lucky Friday, two things about 2017 stand out. One being the silver production which was better than any other year in Hecla's history, except last year, and the other being the Company's cash position which increased by $20 million. The Company is therefore well-positioned for 2018.
Production Overview of All Mines
- In 2017, the Greens Creek mine declared production of 8.4 million ounces of silver and 50,855 ounces of gold, lower production compared to 2016. For Q4 2017, 2.1 million ounces of silver and 11,565 ounces of gold were produced.
- The Lucky Friday mine reported 838,657 ounces and 69,578 ounces of silver for the whole year and Q4 2017, respectively, lower compared to the same periods of 2016; the reason being the ongoing strike by unionized employees.
- In 2017, 156,653 ounces of gold, including 37,922 ounces from the East Mine Crown Pillar pit, were reported at the Casa Berardi mine. For Q4 2017, 43,444 ounces of gold were produced including 12,333 ounces from the East Mine Crown Pillar pit. The mine's production increased by eleven thousand ounces compared to 2016.
- The San Sebastian mine produced 3.3 million ounces of silver and 25,177 ounces of gold in 2017. For Q4 2017, 759,100 ounces of silver and 5,955 ounces of gold were produced; both exceeding estimates for the year, though being lower compared to 2016.
Impact of Strike at Lucky Friday Mine
Hecla blames the ongoing strike at the Lucky Friday mine for the drop in silver production in 2017. Around 250 union employees of the mine have been on strike since March 13, 2017. Reports suggest that the previous contract between management and United Steelworkers Local 5114 expired in April 2016. Hecla's management's unfair labor practices forced the employees to go on strike. Both sides could not reach an agreement on a new contract.
About Hecla Mining Co.
Founded in 1891 and headquartered in Coeur d'Alene, Idaho, Hecla is a precious metals Company, discovering, acquiring, developing, producing, and marketing mineral resources. The Company is a primary leading, low-cost silver producer with operating silver mines in Alaska, Idaho, and Mexico, and is a gold producer with an operating mine in Quebec, Canada.
Stock Performance Snapshot
January 11, 2018 - At Thursday's closing bell, Hecla Mining's stock advanced 5.40%, ending the trading session at $4.49.
Volume traded for the day: 6.97 million shares, which was above the 3-month average volume of 4.48 million shares.
Stock performance in the last month – up 24.03%; and year-to-date - up 13.10%
After yesterday's close, Hecla Mining's market cap was at $1.83 billion.
Price to Earnings (P/E) ratio was at 74.83.
The stock has a dividend yield of 0.22%.
The stock is part of the Basic Materials sector, categorized under the Silver industry. This sector was up 1.7% at the end of the session.
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