The Hart Inland Capital Index increased by 7.7% during the fourth quarter of 2019, primarily driven by gains from Coeur d’Alene-based Hecla Mining Co.
For comparison, The S&P’s 500 Index reported an increase of 8.5% during the quarter.
The Hart Index, compiled by Spokane-based Hart Capital Management, tracks the performance of the seven largest publicly traded companies in the region.
Hecla Mining Co. reported a 92.6% gain in the fourth quarter of 2019, driven by favorable pricing for precious metals, the company’s debt reduction and reopening of the Lucky Friday Mine.
Itron Inc. and W.T.B. Financial Corp., the holding company for Washington Trust Bank, gained 13.5% and 8.5%, respectively.
Key Tronic Corp. reported a 14.3% loss because of “tariff pressures and a sharp increase in demand for sheet metals, resulting in “underwhelming revenues” for the quarter,” according to a Hart Capital Management report.
The Hart Capital Inland Northwest Composite, which measures each company by its total market value, increased by $1.44 billion, or 13.1% in the fourth quarter. The gain was led by Hecla Mining Co., which added $819 million to its market capitalization over the fourth quarter.
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