In This Article:
We recently compiled a list of the These 10 Firms Were Heavily Hit on Friday. In this article, we are going to take a look at where Hecla Mining Company (NYSE:HL) stands against the other stocks.
Wall Street’s main indices finished mixed on Friday, with the tech-heavy Nasdaq emerging as the sole gainer, rallying 0.41 percent. The Dow Jones, for its part, decreased by 0.37 percent, while the S&P 500 was little changed, dipping 0.01 percent.
Ten companies mirrored a mostly pessimistic broader market.
To come up with this list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
Aerial view of a gold mine, with its winding roads and pits.
Hecla Mining Company (NYSE:HL)
Hecla Mining Company (NYSE:HL) fell for a second day on Friday, losing 14.60 percent to end at $5.44 apiece as investors sold off positions after the company missed analysts’ earnings expectations.
Despite impressive earnings performance for the fourth quarter and full year 2024, investors focused on the company missing earnings per share targets, registering only 2 cents as compared with the 6 cents expected by analysts.
For the last quarter of 2024, Hecla Mining Company (NYSE:HL) swung to an attributable net income of $11.8 million as compared with a $43-million net loss in the same period a year earlier. It also registered a net profit of $35 million in full-year 2024, reversing an $84-million net loss in 2023.
Sales in the said quarter increased by 55 percent to $249 million from $160 million year-on-year, while that of full-year 2024 increased 29 percent to $929 million from $720 million.
Overall HL ranks 4th on our list of the stocks that crashed on Friday. While we acknowledge the potential of HL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for other AI stocks that are as promising as HL but that trade at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
Disclosure: None. This article is originally published at Insider Monkey.