|Stock symbol: HL|
|Reporting period: 1Q|
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.|
Subscribe to the Morning Review newsletter
Get the day’s top headlines delivered to your inbox every morning by subscribing to our newsletter.
You have been successfully subscribed!
There was a problem subscribing you to the newsletter. Double check your email and try again, or email firstname.lastname@example.org
Subscribe and login to the Spokesman-Review to read and comment on this story