Hecla Mining Reports Fourth Quarter and Year 2016 Results Financial Results & Earnings

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1104-nyse/hl/29596-hecla-mining-reports-fourth-quarter-and-year-2016-results.html

COEUR D’ALENE, Idaho–(BUSINESS WIRE)–Hecla Mining Company (NYSE:HL) today announced fourth quarter and year end 2016 financial and operating results.

FOURTH QUARTER AND FULL YEAR 2016 HIGHLIGHTS
Q4 2016 Q4/16 vs. Q4/15 2016 2016 vs. 2015
Net income applicable
to common shareholders
$20.1 M $0.05/share 132% $69.0 M $0.18/share 179%
Adjusted net income1 $11.2 M $0.03/share 34% $60.7 M $0.16/share 277%
Sales $164.2 M 42% $646.0 M 46%
Cash provided by
operating activities
$52.1 M 90% $225.3 M 111%
Adjusted EBITDA2 $65.1 M 89% $264.6 M 127%
Net debt/adjusted EBITDA2,5 1.2X (61)%
Free cash flow 3 $7.7 M 152% $44.5 M 243%
Cash and cash eq. & short
term investments
$198.9 M 28% $198.9 M 28%
Silver production 3.98 M oz 9% 17.2 M oz 48%
Gold production 63.2 K oz 5% 233.9 K oz 24%
Silver equivalent production4 12.1 M oz 108% 46.1 M oz 123%
  • San Sebastian produced 4.3 million ounces of silver and 34,042 ounces of gold, generating $93.9 million of cash provided by operating activities with only $1.5 million of capital.
  • East Mine Crown Pillar (EMCP) pit at Casa Berardi fully operational, increasing mill throughput and gold production.
  • First hardrock mining company to receive independent certification under CORESafety.
  • Maintained proven and probable silver reserve levels despite record silver production, lowered exploration budget and $14.50/oz silver used for calculation, among the lowest in industry.
  • Acquired the Montanore Project, a large silver-copper development asset in Montana.
  • Estimated 2017 silver equivalent production of 46.5-49.4 million ounces (or gold equivalent production of 655,000-696,000 ounces), higher than 2016’s record production.10

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