In This Story
Hecla Mining Company (HL-6.13%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports a net income applicable to common stockholders of $1.6 million for the third quarter of 2024, compared to a net loss of $22.6 million in the same period of 2023.
Total sales for the quarter were $245.1 million, an increase from $181.9 million in the third quarter of 2023. The increase was driven by higher realized prices for silver and gold.
Greens Creek reported sales of $116.6 million, with a gross profit of $43.0 million. The mine produced 1.9 million ounces of silver and 11,746 ounces of gold during the quarter.
Lucky Friday's sales were $51.1 million, with a gross profit of $11.8 million. The mine produced 1.2 million ounces of silver. Operations resumed in January 2024 following a suspension due to a fire in August 2023.
Keno Hill, which is still in the ramp-up phase, reported sales of $19.8 million. The mine produced 597,293 ounces of silver during the quarter.
Casa Berardi's sales were $50.3 million, with a gross profit of $4.0 million. The mine produced 20,534 ounces of gold.
Cash provided by operating activities was $150.8 million for the first nine months of 2024, compared to $74.6 million in the same period of 2023.
Capital expenditures totaled $153.7 million for the first nine months of 2024, with significant investments in development and equipment at Greens Creek, Lucky Friday, Casa Berardi, and Keno Hill.
Hecla raised $58.4 million through equity sales under its ATM program, which were used to repay $115.0 million on its revolving credit facility.
The company declared and paid dividends of $16.7 million during the first nine months of 2024, compared to $11.8 million in the same period of 2023.
Hecla continues to focus on expanding production and locating new resource potential, while managing risks associated with market prices for metals and foreign exchange rates.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Hecla Mining Company quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.