Hecla Mining Q4 Adj. Loss Matches View, But Revenues Miss - Quick Facts

(RTTNews) - Hecla Mining Co. (HL) reported fourth-quarter net loss applicable to common shareholders of $3.05 million or $0.01 per share, compared to net income of $605 thousand or breakeven per share in the year-ago period.

Adjusted net loss applicable to common stockholders was $1.54 million or breakeven per share, compared to adjusted net income of $10.08 million or $0.03 per share in the same period last year. On average, eight analysts polled by Thomson Reuters expected the company to report breakeven per share for the quarter. Analysts' estimates typically exclude one-time items.

Sales of products for the quarter rose to $114.18 million from $81.10 million in the year-ago period. Analysts had a consensus revenue estimate of $121.28 million for the quarter.

The company reported a 20 percent increase in silver production for the fourth quarter to 2.5 million ounces. Gold production surged 203 percent from last year to 47,108 ounces.

Realized silver prices in the latest quarter were $20.13 per ounce, down 31 percent from the prior-year quarter. Realized gold price was $1,267 per ounce, down 23 percent from last year.

Looking ahead, Hecla Mining projects company-wide silver production for 2014 of 9.5 million to 10.0 million ounces and gold production of 125,000 ounces. The company also forecasts primary silver equivalent production for the year of 17 million ounces.