Hecla Stock Among Worst Performers
Hecla Mining Co.’s stock performance over the last decade made news Thursday, but not the kind that would make its executives smile.
The Wall Street Journal’s analysis of stock returns ranked Hecla sixth on the list of the worst performers in the 10 previous years. Hecla investors a decade ago had 6.2 percent less money on Dec. 31, 1996, in a time of unparalleled stock growth.
Houston-based Battle Mountain Gold Co. ranked seventh, losing 4.9 percent of its value over a decade. The company continues to develop the Crown Jewel gold mine in northeastern Washington.
Hecla’s performance has been hurt by low silver prices and disappointing results at its once-promising Grouse Creek gold mine in central Idaho. The mine is set to close this year.
Bright spots on Hecla’s horizon include the expansion of its flagship silver mine, the Lucky Friday in Mullan, Idaho, and its new Rosebud gold mine in Nevada.
Hecla’s stock once traded in the midteens, but hit decade-long lows around $5 a share last year. Since the beginning of the year, Hecla’s stock has risen nearly $2 a share, thanks in part to a recent rise in silver prices. The stock closed Thursday up 25 cents to $7.13 a share.
, DataTimes