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