NYSE$HL
Hecla Mining Company · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported strong silver free cash flow generation and affirmed silver guidance.
Hecla Mining Company reported a net loss of $(15.8) million, or $(0.03) per share, and an adjusted net income of $15.1 million, or $0.03 per share. Sales reached $178.1 million, driven by silver and gold. The company affirmed its silver production and cost guidance, while adjusting gold production guidance due to reduced underground mining and wildfires at Casa Berardi.
- Produced 3.8 million ounces of silver in Q2, 7.9 million ounces in the first half of the year.
- Restarted the mill at Keno Hill, producing 184,264 ounces of silver and full production expected by year-end.
- Lucky Friday's silver production of 1.3 million ounces was the highest since the first quarter of 2000.
- Acquired ATAC Resources on July 7th for $18.8 million in Hecla stock.
Headline financials
Revenue & EPS history
Hecla · Revenue · Quarterly
$178M
Revenue by segment
Hecla · $175M total across 3 segments · Q2 2023
- Greens Creek Cash Flow$95.9M+3.4%54.6%
- Lucky Friday Cash Flow$42.6M+18.9%24.3%
- Casa Berardi Cash Flow$36.9M-41.0%21.1%
Forward guidance
The Company has updated its annual gold production, cost, and capital guidance. There is no change to silver production guidance.
Tailwinds
- Greens Creek gold production guidance increased to reflect higher gold production.
- Lucky Friday is expected to achieve annual production rate of 425,000 ore tons by the end of 2023.
- Greens Creek will achieve throughput of 2,600 tpd by the fourth quarter.
- Keno Hill will achieve full production by year-end, with expected throughput of approximately 440 tpd.
- Casa Berardi is expected to be free cash flow positive after the completion of stripping and Cell 7 of the tailings facility.
Headwinds
- Wildfires-related suspension of operations in June and the closure of the East Mine underground operations has resulted in lower expected gold production for 2023.
- Three-year gold production outlook has also decreased to include the closure of underground operations in mid-2024, and transition to full surface operations in 2024.
- Casa Berardi is expected to have a production gap of approximately two years between 2028 and 2030.
- Zinc prices by-product credits are expected to decrease slightly for Greens Creek.
- Casa Berardi East Mine closure and June’s wildfires have reduced production guidance by about 25,000 ounces in 2023
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.0%
Avg return
Earnings day
-1.1%
Avg return
5 days after
-0.1%
Avg return
30 days after
49%
33 / 68 earnings
Positive
+17.1%
Q4 2021
Best reaction
-23.5%
Q1 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.2% | +21.3% | -13.4% | |
| Q4 2025 | +3.6% | +12.9% | -18.8% | |
| Q3 2025 | +11.9% | +22.0% | +40.1% | |
| Q1 2025 | +5.3% | +8.4% | +24.0% | |
| Q4 2024 | -14.6% | -15.5% | -9.9% | |
| Q3 2024 | -4.4% | -11.4% | -12.4% | |
| Q2 2024 | +1.5% | +6.3% | +19.8% | |
| Q1 2024 | +9.6% | +4.8% | +7.0% | |
| Q4 2023 | +7.4% | +3.2% | +26.7% | |
| Q3 2023 | -5.8% | -12.7% | +9.9% | |
| Q2 2023 | -9.3% | -7.0% | -21.5% | |
| Q1 2023 | -12.5% | -13.3% | -13.2% | |
| Q4 2022 | -10.1% | -8.5% | -1.1% | |
| Q3 2022 | +0.4% | +3.8% | +11.7% | |
| Q2 2022 | +5.4% | +4.3% | -11.6% | |
| Q1 2022 | -4.8% | +0.2% | +1.8% | |
| Q4 2021 | +17.1% | +15.1% | +33.5% | |
| Q3 2021 | +1.7% | +4.2% | -13.1% | |
| Q2 2021 | -1.6% | -4.6% | +1.6% | |
| Q1 2021 | +16.5% | +18.9% | +42.7% | |
| Q4 2020 | +1.5% | +14.3% | +8.3% | |
| Q3 2020 | -5.9% | -4.7% | -9.5% | |
| Q2 2020 | -4.7% | -12.3% | -13.1% | |
| Q1 2020 | +3.5% | -1.6% | +23.7% | |
| Q4 2019 | +11.4% | +2.3% | -14.3% | |
| Q3 2019 | -2.5% | +2.1% | +17.3% | |
| Q2 2019 | -14.5% | -20.0% | -10.0% | |
| Q1 2019 | -23.5% | -24.0% | -27.9% | |
| Q4 2018 | -11.6% | -10.6% | -17.1% | |
| Q3 2018 | +0.0% | -8.6% | -0.8% | |
| Q2 2018 | +5.6% | -0.7% | -5.6% | |
| Q1 2018 | -0.5% | -1.0% | -5.3% | |
| Q4 2017 | -1.0% | -6.7% | -4.2% | |
| Q3 2017 | +2.2% | -10.4% | -23.3% | |
| Q2 2017 | -7.9% | -10.9% | -1.8% | |
| Q1 2017 | +1.7% | +8.5% | +10.8% | |
| Q4 2016 | -7.2% | -12.3% | -20.4% | |
| Q3 2016 | +9.4% | -8.9% | -4.5% | |
| Q2 2016 | +0.8% | +8.5% | -8.4% | |
| Q1 2016 | +10.6% | — | — | |
| Q4 2015 | +6.4% | — | — | |
| Q3 2015 | -0.9% | — | — | |
| Q2 2015 | -5.1% | — | — | |
| Q1 2015 | +0.3% | — | — | |
| Q4 2014 | +7.5% | — | — | |
| Q3 2014 | -0.5% | — | — | |
| Q2 2014 | -6.6% | — | — | |
| Q1 2014 | -1.6% | — | — | |
| Q4 2013 | -0.6% | — | — | |
| Q3 2013 | -1.0% | — | — | |
| Q2 2013 | +11.5% | — | — | |
| Q1 2013 | -3.9% | — | — | |
| Q4 2012 | +1.2% | — | — | |
| Q3 2012 | -6.2% | — | — | |
| Q2 2012 | -1.5% | — | — | |
| Q1 2012 | +3.6% | — | — | |
| Q4 2008 | -0.4% | — | — | |
| Q4 2011 | -0.4% | — | — | |
| Q3 2011 | -5.6% | — | — | |
| Q2 2011 | +7.2% | — | — | |
| Q1 2010 | +6.3% | — | — | |
| Q1 2011 | -0.6% | — | — | |
| Q4 2010 | +0.6% | — | — | |
| Q3 2010 | -0.9% | — | — | |
| Q3 2009 | -0.9% | — | — | |
| Q2 2010 | +2.8% | — | — | |
| Q2 2009 | +2.8% | — | — | |
| Q4 2009 | +2.8% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro