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Hecla Mining Company HL reported fourth-quarter 2024 adjusted earnings per share of 4 cents, in line with the Zacks Consensus Estimate. HL incurred a loss per share of 4 cents in the year-ago quarter.
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Including one-time items, the company posted earnings of 2 cents per share against a loss of 7 cents in the prior-year quarter.
Hecla Mining Company Price, Consensus and EPS Surprise
Hecla Mining Company price-consensus-eps-surprise-chart | Hecla Mining Company Quote
HL’s Sales & Margins Rise Y/Y on Higher Gold Prices
The company’s revenues increased 55.4% year over year to $250 million in the quarter under review. The top line beat the Zacks Consensus Estimate of $229 million.
Gold prices rose 10.7% year over year to $2,656 an ounce. The realized silver price was $30.19 per ounce in the quarter, up 28.6% from $23.47 in the prior-year quarter. Realized prices for lead and zinc were down 13.8% and up 10.1%, respectively.
The total cost of sales increased 17.9% year over year to $181 million in the quarter. Gross profit marked a substantial improvement to $68.3 million from the prior-year quarter’s $7 million. The gross margin in the fourth quarter of 2024 was 27.4% compared with 4.3% in the prior-year quarter.
Adjusted EBITDA was $86.6 million, up from $33 million in the fourth quarter of 2023.
Hecla Mining’s Q4 Production Numbers
HL reported a silver production of 3.87 million ounces in the fourth quarter of 2024, up 6.3% on a sequential basis. Production improved 32% from the fourth quarter of 2023.
Gold production grew 10.7% to 35,727 ounces from the third quarter of 2024. The same was down 3.9% from the prior-year quarter.
HL’s 2024 Performance
The company delivered adjusted earnings per share of 11 cents in 2024. The Zacks Consensus Estimate was pegged at earnings of 8 cents. It reported an adjusted loss of 1 cent in 2023.
Including one-time items, Hecla Mining reported earnings of 6 cents per share against a loss per share of 14 cents in the prior year.
The company’s revenues grew 29.1% year over year to a record $930 million in 2024. The top-line figure beat the Zacks Consensus Estimate of $919 million.
Hecla Mining’s Financial Position
The company ended 2024 with $26.8 million of cash and cash equivalents, down from the $106 million held at the end of 2023. The cash flow from operating activities was $218.3 million in 2024 against an inflow of $75 million in the prior year.
HL’s 2025 Guidance
The company expects consolidated silver production of 15.5-17.0 million ounces in 2025. Consolidated gold production is anticipated to be 120-130 thousand ounces in 2025.