2024-03-25 15:01:26 ET
Summary
- Hecla Mining Company reported lower silver production in Q4 and relatively flat output in FY2023 because of operational challenges, primarily related to the fire at its Lucky Friday Mine.
- Fortunately, Hecla Mining expects to see strong growth in silver production in the coming years & ended 2023 with one of the longest weighted average mine lives in its peer group.
- In this update, we'll dig into the Q4 and FY2023 results, recent developments, and how Hecla stacks up vs. peers at current levels.
We're nearing the end of the Q4 Earnings Season for the precious metals sector, and one of the first companies to report its results was Hecla Mining Company ( HL ). Unfortunately, while 2022 was a solid year for the company with a massive year from Lucky Friday (4.4 million ounces) and record throughput at all operations, 2023 was a tougher year. This was related to wildfires and the cessation of underground mining at the East Mine in Quebec at Casa Berardi, a fire and temporary halting of operations at Lucky Friday in Idaho, and a slower than planned ramp-up at its new Keno Hill Mine in the Yukon Territories. On a positive note, Hecla is back on track to start the new year and expects to see industry-leading growth among its silver peers looking out to 2026....
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For further details see:
Hecla Mining: Silver Exposure At A Reasonable Price