Hecla Mining Slips To Loss In Q2 On Weak Sales; Adj. EPS Tops View; Declares Dividend

(RTTNews) - Hecla Mining Co. (HL) reported Thursday that its second-quarter net loss applicable to shareholders was $13.66 million or $0.03 per share, compared to prior year's profit of $2.61 million or $0.01 per share.

Adjusted net income was $20.1 million or $0.04 per share, compared to $31.67 million or $0.06 per share a year ago.

On average, six analysts polled by Thomson Reuters expected earnings of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.

Sales dropped to $191.24 million from $217.98 million last year. Analysts estimated sales of $190.65 million for the quarter.

Further, the Board of Directors elected to declare a quarterly cash dividend of $0.875 per share of preferred stock, payable on or about October 1 to stockholders of record on September 15.

Looking ahead for fiscal 2022, the company now expects silver equivalent production of 39.3-40.7 million ounces and gold equivalent production of 509-527 thousand ounces.