COEUR D’ALENE, Idaho–(BUSINESS WIRE)– Hecla Mining Company (NYSE:HL) today announced third quarter financial and operating results.
THIRD QUARTER HIGHLIGHTS AND SIGNIFICANT ITEMS (compared to Q3 2015)
- Net income applicable to common shareholders of $25.7 million, or $0.07 per share.
- Sales of $179.4 million, up 71%, a record.
- Adjusted EBITDA of $75.2 million, up 323%.1
- Cash provided by operating activities of $87.0 million, up 225%. Includes $16 million of insurance proceeds for the Troy Mine reclamation.
- Free cash flow of $27.7 million, up $38 million.2
- Total silver production of 4.3 million ounces, up 67%.
- Gold production of 52,126 ounces, up 19%.
- Silver equivalent production of 10.3 million ounces, up 17%.3
- Last 12 months net loss of $13.7 million and adjusted EBITDA of $234 million.1
- Net debt/adjusted EBITDA (last 12 months) of 1.4x, a 49% decline.1,4
- Cash and cash equivalents and short-term investments of $192.4 million at September 30, 2016, up $33 million over the second quarter.
- Completed the acquisition of the Montanore project, located near the Rock Creek project.
- Reduced estimate for 2016 cash cost, after by-product credits, per silver ounce to $4.00 and increased estimate for 2016 cash cost, after by-product credits, per gold ounce to $750.5