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Hecla Mining Company (HL-6.13%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total sales of $929.9 million for 2024, with the company producing 16.2 million ounces of silver and 141,923 ounces of gold. The increase in revenue was attributed to higher realized prices for silver and gold.
Production at the Lucky Friday mine resumed in January 2024 after being suspended due to a fire in August 2023. The mine produced 4.9 million ounces of silver in 2024.
Keno Hill produced 2.8 million ounces of silver in 2024, meeting production guidance despite power conservation measures affecting throughput in the fourth quarter.
Greens Creek mine reported a gross profit of $153.4 million, driven by higher realized prices for all metals except lead, despite increased production costs.
Casa Berardi reported a gross loss of $13.9 million, although the loss decreased compared to the previous year due to higher gold prices.
Capital expenditures totaled approximately $214.5 million in 2024, with significant investments made at Greens Creek, Lucky Friday, Casa Berardi, and Keno Hill.
The company raised $58.4 million through its ATM equity program, which was used to repay amounts drawn on its revolving credit facility.
Net income attributable to common stockholders was $35.3 million, with $50.0 million in insurance proceeds related to the Lucky Friday fire contributing to the income.
Hecla's liquidity position included $26.9 million in cash and cash equivalents at year-end, with $195.8 million available under its $225.0 million revolving credit facility.
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 annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.