Hecla Posts Q3 Loss/Shr Of $0.03, Sales Up - Quick Facts

(RTTNews) - Hecla Mining Co. (HL) announced net loss applicable to common shareholders of $8.6 million, or $0.03 per basic share in the 2013 third quarter, chiefly due to lower average silver and gold prices over the prior-year period. Last year's loss applicable to common shareholders was $1.02 million. On average, 6 analysts polled by Thomson Reuters expected loss per share of $0.02 for the quarter. Analysts' estimates typically exclude one-time items.

Sales of products reached $106.63 million in the quarter, versus $81.87 million a year earlier. Five analysts estimated $110.90 million sales in the latest peirod.

The company reported a 42% growth in third quarter silver production to 2.3 million ounces compared with last year, with strong production from Greens Creek and the re-opened Lucky Friday reaching full production levels towards the third-quarter end. Moreover, with the June 1, 2013 acquisition of the Casa Berardi mine in Quebec, gold production climbed 164% year-on-year to 36,966 ounces.

Looking forward, silver production for 2013 is expected to be near the high end of prior guidance of 8 to 9 million ounces with cash costs, after by-product credits, per silver ounce at around $6.50.

Further, the board declared a quarterly dividend of $0.0025 per share, payable on or about December 4, 2013, to shareholders of record on November 25, 2013. The firm said its realized silver price was $22.22 in the latest quarter and hence did not trigger a larger dividend under its dividend policy.