Hecla Mining Company (NYSE:HL) today announced fourth quarter and full year 2019 financial and operating results.
HIGHLIGHTS
- Fourth quarter sales of $225 million; cash flow from operations of $57 million; net loss of $8.0 million; and adjusted EBITDA of $62 million.1
- 2019 silver production of 12.6 million ounces, up 22% and record gold production of 272,873 ounces, up 4%, over 2018.
- 2019 sales of $673.3 million (the highest in the company’s history); cash flow from operations of $120.9 million; net loss of $99.6 million; and adjusted EBITDA of $177.7 million.1
- Record reserves for silver, lead and zinc; increases of 11%, 5% and 8%, respectively over 2018.
- Net debt reduction of approximately $136 million, or more than 23%, from the peak net debt mid-year.
- Cash and cash equivalents of $62 million at year end, an increase of $35 million with no borrowings on the revolving line of credit facility.
- Lowest All Injury Frequency Rate (AIFR) in Company history.
- Lucky Friday return to full production is underway and expected to be complete by the end of 2020.
- Moody’s Investors Service upgraded Hecla’s Corporate Family Rating from Caa1 to B3 with a stable outlook.