Hecla Mining Swings To Profit

(RTTNews) - Silver producer Hecla Mining Co (HL) Wednesday reported third-quarter net earnings to stockholders of $3.5 million or $0.01 per share compared with a loss of $8.6 million or $0.03 per share last year.

Excluding items, adjusted loss for the quarter was $0.01 per share compared with a loss of $0.02 per share a year ago.

Revenues for the quarter were $135.5 million compared with $106.6 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.00 per share on revenues of $127.6 million for the quarter. Analysts' estimates typically exclude special items.

Silver production for the quarter rose 25% from last year to 2.9 million ounces, and gold production increased 15% to 42,501 ounces, the company said.

Average realized silver prices for quarter slid to $18.53 per ounce from $22.22 per ounce last year. Realized gold prices were also lower, while realized prices for lead and zinc were higher.

The company declared a quarterly dividend of $0.0025 per share.