Hecla Mining Co. Earnings: Here’s Why Shares are Up Now
Hecla Mining Co. (NYSE:HL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.67%.
Hecla Mining Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 42.86% to $0.04 in the quarter versus EPS of $0.07 in the year-earlier quarter.
Revenue: Decreased 21.16% to $81.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Hecla Mining Co. reported adjusted EPS income of $0.04 per share. By that measure, the company beat the mean analyst estimate of $0.03. It beat the average revenue estimate of $76.9 million.
Quoting Management: “The action by Hecla’s Board to declare this regular and special dividend reiterates Hecla’s excellent operating margin and strong financial position,” said Hecla’s President and Chief Executive Officer, Phillips S. Baker, Jr. “While our average realized silver price during this recent quarter was below $30 per ounce, which is below the threshold for our silver price-linked dividend, prices have rebounded above $30 and we remain confident in the silver market. Therefore the Board has elected to declare a special common stock dividend, in addition to the regular common stock dividend for this quarter to allow the continued opportunity for Hecla shareholders to benefit from strong silver prices.”
Key Stats (on next page)…