Hecla Mining: Q1 Earnings Snapshot
May 6, 2021
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COEUR D`ALENE, Idaho (AP) Hecla Mining Co. (HL) on Thursday reported first-quarter net income of $19 million, after reporting a loss in the same period a year earlier.
The Coeur d`Alene, Idaho-based company said it had net income of 3 cents per share. Earnings, adjusted for non-recurring costs, came to 6 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The precious metals company posted revenue of $210.9 million in the period.
Hecla Mining shares have declined 3.5% since the beginning of the year. The stock has more than doubled in the last 12 months.
Shares outstanding: 178.6 million; management/insiders own 21%, institutions own 52%
Highlights
Strong insider ownership at 21%;
Two advanced-stage projects in Canada with drilled resources;
Clarence Stream, New Brunswick first-mover status, 100% control of 65 kilometers (65 km) of strike in emerging gold belt;
Clarence Stream, 2017, NI 43-101 of 390,000 (390k) gold ounces Measured and Indicated (M&I) with 277k gold ounces Inferred;
Clarence Stream resources are in just two of six deposits and all six are open to expansion;
>140,000 meters of historical/recent drilling and adjacent to Mount Pleasant Mill;
Current 100,000-meter drill program with sevel rigs underway at Clarence Stream;
Estrades polymetallic project, Quebec; a 10,000-meter drill program underway;
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