May 9, 2012 in Idaho

Hecla Mining Co.

Precious metals miner
 
Stock symbol: HL
Reporting period: 1Q
Earnings:

Profit of $12.4 million

4 cents per share

Versus 1Q 2011:

Profit of $43.2 million

16 cents per share

Revenue: $91.2 million
Analysis: Work continues on shaft rehabilitation at Hecla’s Lucky Friday Mine, where the company spent $11.7 million during the first quarter. Production halted at the underground silver mine in January as a result of shaft safety issues identified by federal inspectors. About 1,500 feet of work has been completed on the 6,100-foot-long shaft, with the work expected to be finished in December. Hecla’s stock price has dropped by about one-third since the Lucky Friday’s closure. The board of directors authorized a buyback program of up to 20 million shares of common stock.

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